• We need your support!

    We are currently struggling to cover the operational costs of Xtremepapers, as a result we might have to shut this website down. Please donate if we have helped you and help make a difference in other students' lives!
    Click here to Donate Now (View Announcement)

Igcse accounting 11??

A

amnah

Messages
14
Reaction score
5
Points
13
What abt the question tht how should the partnership agreement be changed so tht we knw tht Raoul sells more thn the other guy? I wrote by increasing its profit share. Is tht right?
Secondly, wasnt the current ratio of the Fazan something ltd's better. I knw it ws less than cole's bt cole's was 2.4:1 which means tht it's assets are laying idle!
 
O

Omar Mihilmy

Messages
16
Reaction score
0
Points
1
amnah said:
Thankks. What did you do for the first mcq? Nd was the current account brought down 5380 cr?
Click to expand...
the current account is correct i think but cant recall the figure exactly. the mcq can you pplease tell me the question ?
 
A

amnah

Messages
14
Reaction score
5
Points
13
Omar Mihilmy said:
the current account is correct i think but cant recall the figure exactly. the mcq can you pplease tell me the question ?
Click to expand...
i dnt remember but it was something tht where would the trader record something i think invoices.lol The options were purchase journa, purchase return journal, sales journal nd sales.return journal. I chose sales journal. Bt im confused cz they didnt say whether the trader was a buyer or seller
 
S

sarahnafea

Messages
56
Reaction score
35
Points
28
I have a question for tomorrow's P2! In preparing PLC, my teacher taught me that since the PLC account is like preparing the creditor's account, everything that increases the amount owed to the creditor is put on the credit side and everything that decreases the amount owed to the creditor is put on the debit side since creditor has a credit normal balance. That works fine but when they say 'cash refund from supplier due to overpayment by X customer' we place it on the credit side! How does a cash refund increase the amount owed to the supplier?? Shouldn't it decrease the amount? Help please!
 
S

sarahnafea

Messages
56
Reaction score
35
Points
28
yes that's what i did for ratios and i checked with the teacher he said the same thing...poor management of current assets for cole ltd.
amnah said:
What abt the question tht how should the partnership agreement be changed so tht we knw tht Raoul sells more thn the other guy? I wrote by increasing its profit share. Is tht right?
Secondly, wasnt the current ratio of the Fazan something ltd's better. I knw it ws less than cole's bt cole's was 2.4:1 which means tht it's assets are laying idle!
Click to expand...
 
N

Numnum

Messages
70
Reaction score
10
Points
18
sarahnafea said:
I have a question for tomorrow's P2! In preparing PLC, my teacher taught me that since the PLC account is like preparing the creditor's account, everything that increases the amount owed to the creditor is put on the credit side and everything that decreases the amount owed to the creditor is put on the debit side since creditor has a credit normal balance. That works fine but when they say 'cash refund from supplier due to overpayment by X customer' we place it on the credit side! How does a cash refund increase the amount owed to the supplier?? Shouldn't it decrease the amount? Help please!
Click to expand...
What are you talking about? Honestly Idont get you. You're talking about public limited companies yea? So what is Plc ACCOUNT? Yu mean appropriation a/c??
 
S

sarahnafea

Messages
56
Reaction score
35
Points
28
Numnum said:
What are you talking about? Honestly Idont get you. You're talking about public limited companies yea? So what is Plc ACCOUNT? Yu mean appropriation a/c??
Click to expand...
PLC = Purchases Ledger Control Account. Sorry I wan't aware others don't use this terminology. But thanks anyways, I got my answer alhamdulilah...good luck to us all.
 
You must log in or register to reply here.
Top