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Economics, Accounting & Business: Post your doubts here!

azaanahsan

azaanahsan

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Ram97 said:
http://studentbounty.com/pastpapers/Cambridge International Examinations (CIE)/International AS and A Level/Accounting (9706)/2005 Jun/9706_s05_qp_1.pdf
MCQ #4 and #5
Click to expand...

In first question u have to find difference b/w Old provision & new Provision...

Receivables given for 2003 are net receivables i-e is after deduction of provision. So if we want to find full Receivables

17100 = 95 % of Receivables

17100 = 95/100 * receivables

17100 * 100 / 95 = Receivables

Receivables = 18000

So Old provision was 18000 * 5 % = 900

Now new provision will be calculated on 19,000 becoz bad debts is already deducted in Sales ledger Control A/c

So New provision is 19000 * 5 % = 950

Now just take difference 950 - 900 = 50 (B)

In 2nd question u hav to make Rent A/c.

Dr Side. (Opening Balance 760 + 10600)
Cr. side. (closing rent prepaid 1260)

760 + 10600 - 1290 = 10070 (B)

10600 is on Dr. side becoz Expense when paid is Dr.
Opening Prepaid rent is on Dr. side becoz Asset and closing prepaid is on cr. side becoz next year iv will come on Dr. side as an Asset.)

Hope i answer ur q....
 
azaanahsan

azaanahsan

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Ram97 said:
http://onlineexamhelp.com/wp-content/uploads/2012/06/9706_w05_qp_1.pdf
MCQ #9
Click to expand...
Same as previous Expense A/c question... Difference over here that closing prepaid u have to find.

As u can see that payment made is 157200 which is till 31st march... Our accounting period ends at 31st dec.

So closing prepaid is 157200/12 * 3 = 39300

So now same technique

Dr side( Op. Balance 36200 + 157200)
Cr. Side(Closing Prepaid 39300)

36200 + 157200 - 39300 = 154100 (B) :)

I hope i Answer ur question...
 
Emadthegreat

Emadthegreat

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newgirl007 said:
Hey thanks for offering your help :)
So ya... I do know what share capital is... Also capital employed ... ROCE.. Share premium...etc... Basically, I know most of the concepts theoretically but I have no clue on how to apply what concept in the papers. I freeze when I see shares related questions. :( It would be of great help if, As per your convenience, you can choose any 3 different questions from the past papers... different way to record the transactions and explain them to me. My teacher is off on a holiday and is not reachable so I'm in a fix and I have my MCQ paper on 13th of this month :O
Thanks again for your help.! :D
Click to expand...
as or a2?
and mcqs papers or p2?
 
asadalam

asadalam

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EricWongCY said:
How to score full mark for Economics P2 essay?
Data reaponse is way too hard for me
Click to expand...
Layla.. said:
LOL, It's nearly impossible unless you're really really good.
Click to expand...
What do you guys find difficult?Getting Full is hard but you can get 15/16 or even 18 depending on your luck,and thats enough for an A when its usually in mid 20s like 24 26 etc.14 marks in Data response and 16 in essay will guarantee an A.
 
abdulhafeez

abdulhafeez

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asadalam said:
What do you guys find difficult?Getting Full is hard but you can get 15/16 or even 18 depending on your luck,and thats enough for an A when its usually in mid 20s like 24 26 etc.14 marks in Data response and 16 in essay will guarantee an A.
Click to expand...


Hey could you give some tips on attempting an essay question for business studies?
 
Ram97

Ram97

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abdulhafeez said:
Hey could you give some tips on attempting an essay question for business studies?
Click to expand...
Try to link the concept with all the units such as marketing, people in organisations, finance and cost, operations and planning
Observe your surrounding and give examples from your economy where possible
Do mention the name of product or brand you are mentioning as an example. Don't write like company X or Company Y
 
abdulhafeez

abdulhafeez

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Ram97 said:
Try to link the concept with all the units such as marketing, people in organisations, finance and cost, operations and planning
Observe your surrounding and give examples from your economy where possible
Do mention the name of product or brand you are mentioning as an example. Don't write like company X or Company Y
Click to expand...

JAzak Allah :) do you know any important topics for business studies though ? that'd be helpful, I'm self studying Alevels.
 
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