how was accounting paper 2

[seemo1995]

Hey guys how did u find accounting paper 2 ? Easy yea ?

 

[Omar Mihilmy]

people answer us

 

[AhmedMans]

Variant 21? HARD

 

[mennakhaled]

Variant 21? HARD

variant 2 related to Egypt right?

 

[Omar Mihilmy]

very harrrrrrrrrrd !

 

[sasq111]

variant 21 was easy..not that hardd;P

 

[Omar Khairy]

In egypt we attended variant 1, I found it really tough, I couldn't balance the balance sheet, and I found the surplus 15452, the profit in the income statment 15020, the cash book was 1404 and 2020, the ROCE was 7.56 but I was wrong in the last percentage, (179.6 % ) that all what I can remember till now

 

[Tedex]

Variant 21 was quite easy.

My mistakes:

Balance Sheet, possibly lost 8 marks totally.

ROCE, I got 9.7% return, which I doubt was correct since my net profit might have been wrong

Some theory questions.

 

[Omar Khairy]

I think it was 7.56%, am pretty sure of it

 

[Tedex]

What about Rate of stock turnover. How many times was it?

 

[AhmedMans]

I got rate of stock turn over something like 10.9 or 10.8
ROCE was 9.91 and surplus was 15050 I think
Net profit was 19820

 

[AhmedMans]

variant 2 related to Egypt right?

Yeah, first variant.

 

[Tedex]

I got rate of stock turn over something like 10.9 or 10.8
ROCE was 9.91 and surplus was 15050 I think
Net profit was 19820

Yes that was my rate aswell.

Btw, I was wondering. Do we enter the "Charged interest on overdue payment from supplier" in the Purchase Control Account? As far as my book's concerned, we are not supposed to record anything else other than was was listed.

 

[AhmedMans]

Yes that was my rate aswell.

Btw, I was wondering. Do we enter the "Charged interest on overdue payment from supplier" in the Purchase Control Account? As far as my book's concerned, we are not supposed to record anything else other than was was listed.

It's added on credit side

 

[sasq111]

yess rate of stock turnover was 10. something it was tricky

 

[SmartNour]

Variant 1 was fine not bad xD

 

[Muhammad Bin Anis]

variant 2 ( p22) was xtra ordinary easy
but i and freinds were still argueing over the answers! :x