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Economics, Accounting & Business: Post your doubts here!

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But can you explain the asset at book value account please?
hi, Sorry guys i was not able to answer queries coz i was busy with something... Asset account at NBV is different from Asset account at cost because in cost account u make Accumulated depreciation a/c separate, where as in NBV account previous depreciation is already deducted from ur asset cost and they give u NBV so no need for accumulated dep. A/c, U only have to adjust this year dep. charge, which u put on credit side. becoz when dep is charged without acc. dep a/c it will be Dep. (Dr) Asset (cr), so as we are preparing asset a/c so it will come on cr. side. additions are same becoz no dep. charged on them.
 
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I'm also writing this may!! we need to work in team.
In fact i solved the AVCO question but got stuck at that part because my AVCO balance was different from the Marking Scheme[/QUOT
have u got answer for ur avco q? If not pls post that q, i will try....
 
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Answer which i am getting is 20 * 31.86 = 637 & I suppose the difference is because of decimals and this much diff. doesn't matter.... what's ur answer?
 
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Guys please I need explanations on this example ASAP..
I do not understand notes 1 2 3.. please :(((
 

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Guys please I need explanations on this example ASAP..
I do not understand notes 1 2 3.. please :(((
It says that In case of redemption of shares if u are issuing new shares at premium then the premium u get from issue of new shares can be used to set off premium u are going to pay on shares which is going to be redeemed, For instance in this particular example premium u got from issue of new share is 15,000 so u can use this 15,000 to pay premium on shares u are going to redeem, u can not use other balance in share premium for this, u can only use premium u got from issue of new shares. 2nd point sometimes it happens that u can redeem shares from amount which u get from issue of new shares in that case it is very simple but in some cases u can not redeem all shares from amount which u got from issue of shares (as in this example) so u have to make capital redemption reserve from retained earning for amount which is remaining for redemption of shares after deducting amount u got from issue of shares and also the premium which is left will be taken from retained earning.

Hope u understand, If not u can ask doubts .....
 
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Answer which i am getting is 20 * 31.86 = 637 & I suppose the difference is because of decimals and this much diff. doesn't matter.... what's ur answer?
I dunno how you calculated that answer but
The answer in the mark scheme is 20 * 31.49= 629.80
 
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Any tips for B.s? :(
Understand main concept, write down important points, Learn how to apply that in scenarios given in exam (for that do past papers)
Remember when attempting case studies u should always relate ur answers to scenario given.... all i know about b.s :)
 
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Understand main concept, write down important points, Learn how to apply that in scenarios given in exam (for that do past papers)
Remember when attempting case studies u should always relate ur answers to scenario given.... all i know about b.s :)
Hmmmmmmmmphhhh (n) Thankss(y)
 
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hi guys,
I hadn't taken accounting in my 9th or 10th IGCSE level but now at AS Level I have taken up Accounting as well as Economics which are new to me. Im struggling a lot with accounting and before I go onto the past papers I need to perfect my concepts itself. Could anyone suggest reliable resourses..(Websites,books,etc.)? I would really appreciate it :)
 
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hi guys,
I hadn't taken accounting in my 9th or 10th IGCSE level but now at AS Level I have taken up Accounting as well as Economics which are new to me. Im struggling a lot with accounting and before I go onto the past papers I need to perfect my concepts itself. Could anyone suggest reliable resourses..(Websites,books,etc.)? I would really appreciate it :)
Although I think it's too late to start while having no concepts but anyways try Accounting by Harold Randall & David Hopkins ....
 
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