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Economics, Accounting & Business: Post your doubts here!

Narcotic

Narcotic

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shahz_h said:
Q.25 last yr debtor ratio was 58.4 nd dis yr 73 so they r paying more slowly nd creditor ratio was 209 nd dis yr 91.25 so they r being paid faster
Q.30 here i assume da 400 units 50% complete as 200 units.
so 60000*600/800=45000
30000*600/800=22500
10000*600/800=7500
now v can get da total cost 4 600 completed units i.e 45000+22500+7500=75000
so cost per unit wud b 75000/600=125
Click to expand...
k got it, thank you
(in Q25. i mixed up last year and this year so marked wrong ans :/)
 
shahz_h

shahz_h

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Narcotic said:
Q15: As a result of the goods taken, X’s current
account would be debited with $2400. The current accounts of the two partners would also be credited with
the profit the goods taken in the ratio of 2:1. Thus X would be credited with $600 and Y with $300. At this
point X has a net debit on the current account of $1800. If the goods are reduced to their cost price, this will
result in X having a net debit of $1500. By crediting X with $300 this is achieved.
By debiting Y with the same amount the profit which no longer exists is eliminated from Y’s current account. (frm ER)

Q19.The key to this question was given as A. This was to indicate that despite the fact the preference shares are
non-cumulative the business may want to make up arrears of dividend from previous years. (ER) and according to me is cheating. what do they mean "may" want to make up.. it can also be "may not" want.. and ans woulb be B which according to me is correct. :/
Click to expand...
Thnx i got da 15th one but da 19th one has absolutely made me mad:mad:
 
H

Hasa321

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shahz_h said:
da debit balance on suspense a/c of 450 had arised bcoz da credit side totalled more by 450.
so here the opt A says dat motor xpenses had been recorded correctly in cashbook(i.e they had been credited), & posted to Motor xpenses as a credit(which should hav been debited)i.e both a/c's had been credited resulting in overstating of credit side & hence suspense a/c arised on debit side.
I hope dis helped u
Click to expand...
Thank you
 
shahz_h

shahz_h

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Hasa321 said:
http://papers.xtremepapers.com/CIE/Cambridge International A and AS Level/Accounting (9706)/9706_s04_qp_1.pdf

Can any1 help how to do the question 6? (Ans is B) , question 17 (Ans B) , question 24 (Ans A) :)
Click to expand...
In q.6 da useful life & residual value is given jus 2 confuse
as da qustion says da asset is going to be depreciated using reducng bal methd
1st yr : 240000*30%=72000(dep chrg 4 yr 1)
240000-72000=168000*30%=50400(dep chrg 4 yr 2)
hence B is da ans
In q.17 stock at 10 jan is 104000 but v hav 2 find da stck on 31 dec
so 104000-16000(as dis was prchased aftr 31 dec)=88000
then stock which had been sold aftr 31 dec, its selling price is given & not da cost price. v ll hav 2 calclat da cost of it
v hav da markup i.e 25 v ll convrt it 2 margin as v hav da selling price
so 25/125*15000=3000(which is da gross profit), so now sellin price - gross profit wud giv u da cost
i.e 15000-3000=12000
now 88000+12000=100000 B is crrct
In q.24 frmula for wrking capital cycle = debtor turnovr days+inventry turnovr days-creditor turnovr days
i.e 26+33-34=25days A is crrct
I hope u ll get it
 
H

Hasa321

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shahz_h said:
In q.6 da useful life & residual value is given jus 2 confuse
as da qustion says da asset is going to be depreciated using reducng bal methd
1st yr : 240000*30%=72000(dep chrg 4 yr 1)
240000-72000=168000*30%=50400(dep chrg 4 yr 2)
hence B is da ans
In q.17 stock at 10 jan is 104000 but v hav 2 find da stck on 31 dec
so 104000-16000(as dis was prchased aftr 31 dec)=88000
then stock which had been sold aftr 31 dec, its selling price is given & not da cost price. v ll hav 2 calclat da cost of it
v hav da markup i.e 25 v ll convrt it 2 margin as v hav da selling price
so 25/125*15000=3000(which is da gross profit), so now sellin price - gross profit wud giv u da cost
i.e 15000-3000=12000
now 88000+12000=100000 B is crrct
In q.24 frmula for wrking capital cycle = debtor turnovr days+inventry turnovr days-creditor turnovr days
i.e 26+33-34=25days A is crrct
I hope u ll get it
Click to expand...

Thank you very much for the help :)
 
sweetiepie

sweetiepie

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which of the following types of letter of credit cannot be cancelled by importer without the consent of the exporter
A open B revocable C Irrecovable D Documentary
answerr

the conditional letter of credit is known as
A open B revocable C Irrecovable D Documentary
whats the answer
 
cool Asviva

cool Asviva

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Narcotic

thankx now i get it. but, can u again explain 27 how inflation decrease? i didnt get AD graph. :)
appreciate ur explainations!:)
 
R

Rizwanjubail

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Assalam o Alikum everyone,
Can someone plz tell me whether "A" grade exists in AS or the highest is "C" because P1 is of 30 marks and P2 is 90 and so total is 120 but in grade threshold 170 are the total marks for the AS. PLz quickly any1.... :(
 
student92

student92

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Rizwanjubail said:
Assalam o Alikum everyone,
Can someone plz tell me whether "A" grade exists in AS or the highest is "C" because P1 is of 30 marks and P2 is 90 and so total is 120 but in grade threshold 170 are the total marks for the AS. PLz quickly any1.... :(
Click to expand...
Waalikum assalam
There is no A star at AS Level, the higest grade achievable is an A,
 
D

DiaJ93

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the uncleared lodgements are uncredited cheques so it has to be added to the bank balance, the unpresented cheques figure is subtracted as well as the bank credit recorded twice in error - 22650+3110-6290-650=18820
 
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