Economics, Accounting & Business: Post your doubts here!

[panoramafolks]

AS level Economics
Q. explain why all type of economic system benefit from the existence and the use of money? (8)

First tell the definition of Money : Money is anything that helps the exchange of good ans services... it may be in the form of notes,coins, credit/debit cards and even bank deposits.
Then tell the functions of money very briefly :
1.Medium of exchange
2.Store of value
3 Unit of account
4.Standard of deferred payments
Then tell how the economic systems benefit:
This can be done by giving dis advantages of bartering :
1. Its hard to find some one to swap with
2. There is a double coincidence of wants.
3.Its hard to save something big if you trade in that.
4. Money is durable but not things you trade with for eg. in world war time ciggarette was used as money but it's not durable as it can be consumed.
5. Money is acceptable generally so easier to meet demand and carry out purchasing and selling processes.
6. Money is scarce and this helps economic systems given that it's limited in supply..... things like rocks and pebbles arent scarce so we cannot use them as money.
7. Money is portable usually.... things u might trade with for eg.. tables might not be portable to carry everywhere

Give a reasoned conclusion on benefits.

 

[Waleed007]

Can anyone explain with details or any related link of Accounting Concepts?

 

[Esme]

student92 how did you do this one ? It's from Accounting MJ 09 P3. Why can't the answer be B ?

 

[Esme]

Accounting MJ 08 P3


Please explain the workings. The answer is B

 

[meezan]

HELLO THERE,
CAN ANYONE HELP ME WITH ACCOUNTING http://papers.xtremepapers.com/CIE/...AS Level/Accounting (9706)/9706_s12_qp_22.pdf
QUESTION 3 (A) HOW DO YOU FIND ASSEMBLY INDIRECT WAGE PLEASE HELP

 

[SalmanPakRocks]

HELLO THERE,
CAN ANYONE HELP ME WITH ACCOUNTING http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_s12_qp_22.pdf
QUESTION 3 (A) HOW DO YOU FIND ASSEMBLY INDIRECT WAGE PLEASE HELP

It should be allocated by the no. of employees, therefore it'd be:
104/200 x 2120,000 = $1102400

 

[amandeep04]

Q# 2 - http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_w11_qp_13.pdf

 

[meezan]

hello,
can anyone help me with question number 3 in accounting paper 12 summer 12
http://papers.xtremepapers.com/CIE/...AS Level/Accounting (9706)/9706_s12_qp_22.pdf

 

[aroojshahzad]

easy as a pie, the comparison is between car and bus+train. If you read the question carefully it says:
"Given this information, what is the opportunity cost to the individual of travelling by car rather than
by bus and train?"

so the solution is add all the costs of the car , that is parking fee, petrol, wear and tear, which aggregates to $7. then add the costs of train and bus which aggregates to $5 ( we are adding them because the question stats the opportunity cost of travelling through bus AND train as the opportunity cost is the next best alternative given up. here we are seeing the benefit lost altogether if traveled by car. ). Subtract $7-$5=$2 benefit being lost if traveled by car as we are paying more than $5 which would have resulted in the $2 benefit being retained by the individual

thank you

 

[student92]

student92 how did you do this one ? It's from Accounting MJ 09 P3. Why can't the answer be B ?View attachment 24424

we have to calcute the interst cost for each year, and then take the average of it over the life span of this debt
so its
100 000 for year 1 and 2, and 120 000 for year 3 4 5
so its 560/5 = 112 000
now, i dont know the reasoning why we have to do so, i belive, in accordance with the accruals concept, we should have take the different interest payment for each year

 

[Martee100]

Could someone help me with my accounts doubts? I would be really grateful if someone did so

M/J/10 v12 P1
Q16
Q26

O/n/10 v11 P1
Q6
Q27

O/n/11 v11 P1
Q6
Q7
Q21

O/n/11 v12 P1
Q3
Q5
Q13

O/n/12 v11 P1
Q17
Q24- i chose D as the GP% had also increased

O/n/12 v12 P1
Q8

O/n/12 v13 P1
Q1
Q5- what are the rules for limited liability companies I dint find them anywhere??
Q15
Q19
Q21 - how do we calculate this

Thanks alot!

 

[student92]

Accounting MJ 08 P3
View attachment 24425

Please explain the workings. The answer is B

it says that a $1 share for each $4 of the 20 000 convertable shares, so that is 20 000/4 = 5000, meaing new ordinary shares of 5000 of $1 each
now the only option with the valid answer is b as only it has a share capital 45 000
as for the the share premium account, it is not relevant as only option b has the correct answer for oridinary shares

 

[student92]

Q# 2 - http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_w11_qp_13.pdf

you need to be aware of how to handle accruals and prepayemnts in t accounts
i have attached a t account, hope you can understand my writing!
we know that the business pays each year in april in advance for rent, this means that only 9/12 of the rent paid is for the current year( 9/12 X 4000 = 1000), so this means that 1000 was prepaid rent for the next accounting year of 2010, then similarly, the 4800 paid at 1 april 2010 is also for 9 months, so the prepaid ammount is then 3/12 of 4800 =1200
and the rent expense charged to the income statment becomes, 1000+4800-1200 = 4600, which is c

please ask me if you are unclear about any working

 

[amandeep04]

you need to be aware of how to handle accruals and prepayemnts in t accounts
i have attached a t account, hope you can understand my writing!
we know that the business pays each year in april in advance for rent, this means that only 9/12 of the rent paid is for the current year( 9/12 X 4000 = 1000), so this means that 1000 was prepaid rent for the next accounting year of 2010, then similarly, the 4800 paid at 1 april 2010 is also for 9 months, so the prepaid ammount is then 3/12 of 4800 =1200
and the rent expense charged to the income statment becomes, 1000+4800-1200 = 4600, which is c

please ask me if you are unclear about any working

thank you so much!

 

[amandeep04]

http://papers.xtremepapers.com/CIE/...AS Level/Accounting (9706)/9706_w11_qp_23.pdf

Question no. 2 Section A (ii) Provision for depreciation of motor vehicles accounts - From where did P&L OF 75530 come from...?

 

[amandeep04]

Doubt ^

 

[SalmanPakRocks]

http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_w11_qp_23.pdf

Question no. 2 Section A (ii) Provision for depreciation of motor vehicles accounts - From where did P&L OF 75530 come from...?

It seems like $920, which is for the disposed vehicle is included in the Profit and loss account.
$74610 + $920 = $75530.

 

[Executor]

AOA,
Please spare few minutes and go to this thread http://www.xtremepapers.com/community/threads/dua-for-all-candidates.14272/ and make dua for all those currently appearing in the exams. You will also find useful duas in it and Remember every share counts.

 

[lovely666]

plss can any1 explain how to do this mcq?? pllsss urgenttt!! the ans is ''D"... HOW???

 

[Alice123]

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