Economics, Accounting & Business: Post your doubts here!

[Sarah Paul]

Profit on credit and loss on debit

In the disposal account?

 

[Sarah Paul]

Profit on credit and loss on debit

In the disposal account?

 

[AlphaBeta]

In the disposal account?

ya in disposal account only
Debits will be - Cost and Profit if there is any
Credit - Accumulated Dep , Bank or smng , and loss if there is ..
Profit or loss is the balancing figure

 

[Sarah Paul]

ya in disposal account only
Debits will be - Cost and Profit if there is any
Credit - Accumulated Dep , Bank or smng , and loss if there is ..
Profit or loss is the balancing figure

Okay thanks

 

[Sarah Paul]

http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_s09_qp_1.pdf
Q12
Q14 how is it D?

 

[CЯeScɘnt]

All paper 1

really?

 

[David Hussey]

u guys have paper 1 on tuesday right?

 

[David Hussey]

i mean accounts

 

[CЯeScɘnt]

u guys have paper 1 on tuesday right?

ryt!

 

[shehri]

yaaar koe partnership goodwill ka notes dey dey (((

 

[CЯeScɘnt]

yaaar koe partnership goodwill ka notes dey dey (((

http://www.slideshare.net/harrysmarty110/partnership-13052909
http://www.bized.co.uk/learn/accounting/infosystems/bait/work08.htm
hope they help

 

[Sarah Paul]

u guys have paper 1 on tuesday right?

Yes

 

[AlphaBeta]

really?

ya

 

[Sarah Paul]

http://papers.xtremepapers.com/CIE/...AS Level/Accounting (9706)/9706_s10_qp_12.pdf
Q2

 

[CЯeScɘnt]

(3000- 3000x.2)=2400
cheque paid =2400-2400x0.05=2280
recieved =500
balance= -4800-2280+500= -6580
so answer will be C

 

[AlphaBeta]

oct/nov 2013 ppr 13 question 4
maarking scheme says aswer is D but do we include contra in general journal ? ?

 

[Sarah Paul]

View attachment 41093
oct/nov 2013 ppr 13 question 4
maarking scheme says aswer is D but do we include contra in general journal ? ?

Yes we do enter

 

[AlphaBeta]

Yes we do enter

it has to be in sales journal and purchases journal na ?
damn i need to go through the basics

 

[CЯeScɘnt]

View attachment 41093
oct/nov 2013 ppr 13 question 4
maarking scheme says aswer is D but do we include contra in general journal ? ?

all transactions,except those of sales and purchase journal, are included in general journal.

 

[AlphaBeta]

all transactions,except those of sales and purchase journal, are included in general journal.

ya so contra is in sales and purchases journal ... so it has to be C