PARTNERSHIP ACCPUNTS nov 2007 p4 q1 pls help

[raza-rocker]

please help me with the current account ...........
here is also the marking scheme .. pls helppppppppppp

 

[SalmanPakRocks]

What didn't u understand in the Current Account? the Current Account is correct! Although I m done accounts in O levels but i may be able to help you for A levels!

 

[raza-rocker]

What didn't u understand in the Current Account? the Current Account is correct! Although I m done accounts in O levels but i may be able to help you for A levels!

im just stucked with the profit again being credited in the current account .... why ?? and how this profit is calculated/shared ??
please explain the third alternative way in the marking scheme ..........
thanks in advance

 

[raza-rocker]

i knw im making a silly mistake here .. im missing something ... bt can't figure it out

 

[SalmanPakRocks]

What didn't u understand in the Current Account? the Current Account is correct! Although I m done accounts in O levels but i may be able to help you for A levels!

im just stucked with the profit again being credited in the current account .... why ?? and how this profit is calculated/shared ??
please explain the third alternative way in the marking scheme ..........
thanks in advance

Profit is always credited in Current account and I think this is happening because first it was credited when there was fair ratio for all three then the first patner changed the ratios for Profit sharing! I think it was due to this!

 

[raza-rocker]

What didn't u understand in the Current Account? the Current Account is correct! Although I m done accounts in O levels but i may be able to help you for A levels!

im just stucked with the profit again being credited in the current account .... why ?? and how this profit is calculated/shared ??
please explain the third alternative way in the marking scheme ..........
thanks in advance

Profit is always credited in Current account and I think this is happening because first it was credited when there was fair ratio for all three then the first patner changed the ratios for Profit sharing! I think it was due to this!

i also know that my friend
i want calculations ..... ???
cz i also knw the profit sharing ratio has changed .. and im also calculating the 2nd profit which is also credited in the current account using the new ration given .. but im not getting the 2nd share of profits credited to the current account the same as any of the alternative methods provided in marking scheme ...
pls help me with that ... i want calculations ???

 

[SalmanPakRocks]

hmmmm well if u wait till tomorrow i will try the calculations! actually I m in O levels so I will still try my best!

 

[raza-rocker]

hmmmm well if u wait till tomorrow i will try the calculations! actually I m in O levels so I will still try my best!

its ok take your time but pls do reply me tomorrow as im in need of great help
it doesn't matter if u r in o-levels .. maybe u might knw better thn me
but pls do reply tomorrow

 

[SalmanPakRocks]

Sure Inshallah!

 

[ahzahra]

I am sorry I think you've got the wrong person I dont study accounts.

 

[raza-rocker]

I am sorry I think you've got the wrong person I dont study accounts.

its ok ..

 

[ching293]

I am using the first answer given

in p and l appropriation

for 1/5/06 to 31/10/06

np before int 29750
less: int on loan (1050)
so s.o.p is 12300 8200 and 8200
-------------------------------------------
for 1/11/06 to 30/4/07
np brefore int 12750
less int on loadn (450)

less int on cap 684,2052,1368

then less salary 4000

s.o.p 699,2098,1399

 

[ching293]

yougot it now?