in current a/c,did two of them have balance c/d on cr side and another on dr side?
-
Prepare by Xtremepapers!
🚀 NEW from the xtremepape.rs team: AI exam prep — 120,000+ worked solutions, and it marks your handwritten working from a photo. Sign in with your forum account & try it free → prepare.xtremepape.rs
How was accounting p42?
- Thread starter uzair shahid
- Start date
- Messages
- 39
- Reaction score
- 41
- Points
- 28
I don't remember balances exactly. I remember that 2 partners had a profit and one of them had a loss.
- Messages
- 13
- Reaction score
- 19
- Points
- 13
Capital balance was like 108000, 68000, 67000 in Q2.
E="zunipari, post: 918730, member: 145318"]Is the error carried forward for example if retained profit figure is wrong so will marks be deducted for share of profit figure too if the appropriation of profits is done appropriately???[/QUOTE]
Someone please let me know!!
Someone please let me know!!
- Messages
- 18
- Reaction score
- 4
- Points
- 13
OMG YES! So basically you took 57000 as total profit for revaluation in the capital account? ( 100000-157000) ?
- Messages
- 13
- Reaction score
- 19
- Points
- 13
The profit on revaluation was 54000 right?
- Messages
- 91
- Reaction score
- 70
- Points
- 28
How 54000. The 60000 worth of property from total was depreciated and the total NBV in the previous 6 months was. 92800.. So 154000-92800=61200
- Messages
- 13
- Reaction score
- 19
- Points
- 13
But didn't they mention that it was revalued based on the original property? I did remember that they mentioned "Original"
- Messages
- 91
- Reaction score
- 70
- Points
- 28
Yeah I know....but how does it make sense that revalue a particular asset without debiting its depreciation.
- Messages
- 91
- Reaction score
- 70
- Points
- 28
Yes the revaluation is 54000 on the asset but also u have to debit the depreciation of the asset which is 7200 which makes the total revaluation gain of 61200.
- Messages
- 13
- Reaction score
- 19
- Points
- 13
Well I guess you're right. Damned exam.
- Messages
- 39
- Reaction score
- 41
- Points
- 28
Isn't 7200 the depreciation for the whole year? You've got to charge the depreciation for only 6 months.
- Messages
- 91
- Reaction score
- 70
- Points
- 28
Yeah 6600.. should be the depreciation...my bad.
- Messages
- 299
- Reaction score
- 106
- Points
- 53
dont worry people, threshold will be low inshaAllah..
expected threshold 85?
expected threshold 85?
Last edited:
- Messages
- 18
- Reaction score
- 4
- Points
- 13
DOOMED.
- Messages
- 46
- Reaction score
- 51
- Points
- 28
In q1 what do we had to do with the depreciation? Do wehad to subtract from the admin or admin expenses had only to be increased by that ???