Economics, Accounting & Business: Post your doubts here!

[Sarah Paul]

60000-9000-900=50100

50100/3=16700

16700+500=17200

D is the answer yeah?

Y add the 500?

 

[Sarah Paul]

http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_w13_qp_11.pdf

can somebody please explain how net profit is overstated?

Its usually is overstated if the expenses are understated or the gross profit is overstated

 

[Sarah Paul]

http://papers.xtremepapers.com/CIE/... AS Level/Accounting (9706)/9706_s07_qp_1.pdf
q 15

 

[rackstagryan]

Its usually is overstated if the expenses are understated or the gross profit is overstated

sorry try the third question

 

[rackstagryan]

Y add the 500?

because that partner receives 500 as interest on capital

 

[rackstagryan]

http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_s07_qp_1.pdf
q 15

19000

 

[rackstagryan]

http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_s07_qp_1.pdf
q 15

if mark up is 50% and if sales have been given to us, we divide the sales figure by 150 and multiply it by 100 to get the cost of sales.
u end up getting 14000 for cost of sales. then 15000+18000-14000 will give u 19000 and that is your closing inventory

 

[Sarah Paul]

if mark up is 50% and if sales have been given to us, we divide the sales figure by 150 and multiply it by 100 to get the cost of sales.
u end up getting 14000 for cost of sales. then 15000+18000-14000 will give u 19000 and that is your closing inventory

Thanks

 

[Sarah Paul]

http://papers.xtremepapers.com/CIE/... AS Level/Accounting (9706)/9706_s07_qp_1.pdf
Q12 and 16

 

[rackstagryan]

Q12 is A
q16 is C

 

[Sarah Paul]

Q12 is A
q16 is C

Explanation :/

 

[rackstagryan]

http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_s07_qp_1.pdf
Q12 and 16

Explanation for q12.

Selling price less the repair costs. compare these values with cost and u take the least value for the stock valuation

so for item A cost=2160 and NRV=2450-190=2260
item B cost=3190 NRV=3060-320=2740

therefore add 2740+2160 and u'll get 4900

 

[Sarah Paul]

Explanation for q12.

Selling price less the repair costs. compare these values with cost and u take the least value for the stock valuation

so for item A cost=2160 and NRV=2450-190=2260
item B cost=3190 NRV=3060-320=2740

therefore add 2740+2160 and u'll get 4900

Thnks

 

[rackstagryan]

Explanation :/

Explanation for q16

93500 includes 10% of profit therefore u divide 93500 by 110 and multiply by 100 to get the cost. you end up with 85000. out of that 85000 20% is closing stock so take 20% of 85000 which is 17000 and that is the value that comes in your balance sheet.

thenn for the trading account u divide 17000 by 100 and mutliply by 110 to get 18700.

 

[Sarah Paul]

Explanation for q16

93500 includes 10% of profit therefore u divide 93500 by 110 and multiply by 100 to get the cost. you end up with 85000. out of that 85000 20% is closing stock so take 20% of 85000 which is 17000 and that is the value that comes in your balance sheet.

thenn for the trading account u divide 17000 by 100 and mutliply by 110 to get 18700.

Thanks

 

[rackstagryan]

Explanation :/

sorry the 16th one is a but hard to explain :/

 

[Sarah Paul]

sorry the 16th one is a but hard to explain :/

Its ok i kindof understood it

 

[Sarah Paul]

http://papers.xtremepapers.com/CIE/... AS Level/Accounting (9706)/9706_s09_qp_1.pdf
Q30

 

[Sarah Paul]

http://papers.xtremepapers.com/CIE/...AS Level/Accounting (9706)/9706_w10_qp_12.pdf
Q3 its really important and the above mentioned question please
With explanation

 

[Sarah Paul]

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