Economics, Accounting & Business: Post your doubts here!

[ktc]

In May/June 2013 P22, Q.2,

under additional information, it says items included in the inventory at cost $ 9500 were damaged and had NRV of $ 2000.
In the income statement, we value inventory at lower of cost or NRV value according to prudence right?

Then why is it given in part a) in the marking scheme to subtract $2000 ( the NRV ) from $ 9500 ( the cost) to get the value of inventory damaged? Shouldn't $2000 be the value of inventory damaged and not $7500?

http://maxpapers.com/syllabus-materials/accounting-9706/attachment/9706_s13_qp_22/

http://maxpapers.com/syllabus-materials/accounting-9706/attachment/9706_s13_ms_22/

_____________________

May/june 2013 P21 Q.1

e) someone please explain how the depreciation figure of equipment worth $66000 was calculated.

http://maxpapers.com/syllabus-materials/accounting-9706/attachment/9706_s13_qp_21/

http://maxpapers.com/syllabus-materials/accounting-9706/attachment/9706_s13_ms_21/

 

[MaffinShinigami]

Accounts P3.
http://papers.xtremepapers.com/CIE/...AS Level/Accounting (9706)/9706_w12_qp_31.pdf

Q20 (answer is C)
Q21 (answer is B)

Thank you!

 

[SalmanPakRocks]

there is a mistake in the last question right?
cash budget, for payments to suppliers
for both cash budgets

Yup. I also couldn't get the answer according to marking scheme. There is some problem.

 

[CЯeScɘnt]

Yup. I also couldn't get the answer according to marking scheme. There is some problem.

i checked Nauman Malik's solved past papers there was payment of 880 to suppliers in the month of July,marking scheme is wrong.

 

[AlphaBeta]

i checked Nauman Malik's solved past papers there was payment of 880 to suppliers in the month of July,marking scheme is wrong.

can u post the screenshot from that Nauman Malik's solved past papers please

 

[CЯeScɘnt]

can u post the screenshot from that Nauman Malik's solved past papers please

of that question?

 

[AlphaBeta]

of that question?

ya that budget question

 

[rupa]

Someone pls help me with my doubt
What is terms of trade and how to calculate them

 

[CЯeScɘnt]

ya that budget question

tomorrow inshaAllah

 

[Hasa321]

Can sum1 explain hw to get the no. of linds produced in question 1 part a?
http://papers.xtremepapers.com/CIE/...AS Level/Accounting (9706)/9706_w12_qp_42.pdf

 

[SalmanPakRocks]

Can sum1 explain hw to get the no. of linds produced in question 1 part a?
http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_w12_qp_42.pdf

Inventory at 30th April 2012 = $81 250
Inventory at 1st May 2011 = $ 65000

Rate of inventory turn over = x /average stock
x / 73175 = 10
Cost of sales = $731250

Revenue = $731250 is 65% of revenue,
Therefore
100% : x
65% : 731250
x = 1125000

 

[xmariam3x]

How to revise for P4 economics? I find A2 Micro easier so I only want to focus on it's theory questions. Will it be O.K if I practice theory questions of A2 Micro only??(but I will throughly read Macro too)

**Worried**

 

[xmariam3x]

Prep for the other econ. papers is perfect though

 

[cool Asviva]

anyone please explain INCOME GEARING. also what's the formula to calculate it?

 

[ktc]

anyone please explain INCOME GEARING. also what's the formula to calculate it?

Interest expense/ profit before interest and tax (operating profit).

Its the inverse of interest cover.

 

[David Hussey]

anyone please explain INCOME GEARING. also what's the formula to calculate it?

check the accounting 2014 syllabus
you should be able to find the list of formulae in the last few pages

 

[David Hussey]

do you guys think CIE might make a new type of paper for accounts p4? like new types of questions
cox for maths they made it a lil tough and i heard bio as well
is it a good or a bad thing if they change it? if they do, thresholds will most likely reduce right?

 

[ktc]

do you guys think CIE might make a new type of paper for accounts p4? like new types of questions
cox for maths they made it a lil tough and i heard bio as well
is it a good or a bad thing if they change it? if they do, thresholds will most likely reduce right?

Math wasn't really a "new" version. All they did was change the cover page of the answer sheet, give us 10 instead of 11 questions and bring the standard of the paper higher. There were questions that carried 8 and 5 marks as opposed to the usual p1 3 to 4 mark questions. But everything was in syllabus.
Don't know about bio.

As for p4, I honestly can't tell. You know in the H randall red textbook (the latest one) says capital reconstruction won't be tested....and it came in 2013!

Oh yes, hopefully the threshold drops.

 

[David Hussey]

Math wasn't really a "new" version. All they did was change the cover page of the answer sheet, give us 10 instead of 11 questions and bring the standard of the paper higher. There were questions that carried 8 and 5 marks as opposed to the usual p1 3 to 4 mark questions. But everything was in syllabus.
Don't know about bio.

As for p4, I honestly can't tell. You know in the H randall red textbook (the latest one) says capital reconstruction won't be tested....and it came in 2013!

Oh yes, hopefully the threshold drops.

dont follow what that crazy book tells -_-
yea i seriously hope it drops !

 

[ktc]

dont follow what that crazy book tells -_-
yea i seriously hope it drops !

Crazy book made it to the list of recommended sources of study

What book do you recommend?