How was accounting p42?

[uzair shahid]

it was fine for me alhamdulillah

 

[uzair shahid]

bump

 

[job wilson]

Tricky question no.2 But aced q1 and 3 easily

 

[MariaZ]

No 1 blew me off. What was the retained profit? Where do you put the capital expenditure ? What happened to bank over draft? What was the total asset? I got 603
Question 2 was okay. Just the first part was tricky. Question 3 was fine too

 

[ayushUcchil]

No 1 blew me off. What was the retained profit? Where do you put the capital expenditure ? What happened to bank over draft? What was the total asset? I got 603
Question 2 was okay. Just the first part was tricky. Question 3 was fine too

No. 1 was tricky for me too, my balance sheet didn't tally by a small amount, about 5180. I made a bank account to enter the expenses, receipts from debtors, payments to creditors and the capital expenditure. I'm not sure whether what I did is right.

 

[EhteshamHaider24]

Was the profit from no 1, 33000?
And the profit from the second was 19100?

 

[ayushUcchil]

Was the profit from no 1, 33000?
And the profit from the second was 19100?

Not sure, I definitely didn't get those numbers man!

 

[Ebby_SaLeem]

No. 1 was tricky for me too, my balance sheet didn't tally by a small amount, about 5180. I made a bank account to enter the expenses, receipts from debtors, payments to creditors and the capital expenditure. I'm not sure whether what I did is right.

Yep, you basically had to make a "mini" cash flow statement adding profit from operations, depreciation charges, increase in inventories, trade receivables and so on. It WASN'T the balancing figure.

 

[pakhee]

Tricky question no.2 But aced q1 and 3 easily

what was net assets for Qs.1?

 

[pakhee]

Yep, you basically had to make a "mini" cash flow statement adding profit from operations, depreciation charges, increase in inventories, trade receivables and so on. It WASN'T the balancing figure.

how many marks do you think the amount of cash at bank will have?I didn't do it.

 

[pakhee]

What do you think the grade threshold will be?Mine wasn't good at all.

 

[ayushUcchil]

Yep, you basically had to make a "mini" cash flow statement adding profit from operations, depreciation charges, increase in inventories, trade receivables and so on. It WASN'T the balancing figure.

Does it have to be a CFS? It can also be a bank a/c right?

 

[kishmishdoll]

Why was current ac of 12 marks? What were the contents in that?
And what about the npv? Was it compulsory to give answers in 2 decimal places?

 

[ayushUcchil]

Why was current ac of 12 marks? What were the contents in that?
And what about the npv? Was it compulsory to give answers in 2 decimal places?

The current a'c contained drawings on the debit side. There was interest on capital and profit on the credit side. Note that Interest on capital had to be charged for 6 months at the original rate and 6 months at the new rate. Profit for the two periods too had to be split in the original and new share. I made 2 rough income statements for calculations. I think that's all, can't remember too well :S

 

[kishmishdoll]

Oh i haven't done it this way. I've just written it according to new adjustments.

 

[pakhee]

The current a'c contained drawings on the debit side. There was interest on capital and profit on the credit side. Note that Interest on capital had to be charged for 6 months at the original rate and 6 months at the new rate. Profit for the two periods too had to be split in the original and new share. I made 2 rough income statements for calculations. I think that's all, can't remember too well :S

wasn't it share of loss?

 

[pakhee]

Was the profit from no 1, 33000?
And the profit from the second was 19100?

Your answers are probably right.What did you get for opening capital in qs.2?

 

[ayushUcchil]

wasn't it share of loss?

Yeah, I got a loss for the second 6 month period.

 

[muddi78]

What if I didn't made a proper cash flow but showed all things that had to be subtracted and added in my workings????????? Will I get full marks for my bank working????

 

[pakhee]

What if I didn't made a proper cash flow but showed all things that had to be subtracted and added in my workings????????? Will I get full marks for my bank working????

yeah,you will.