principles of account paper 1&2

[carolinetcw]

how were the papers?

 

[XPFMember]

Assalamoalsikum!\
seems ur paper didnt go well..InshAllah...have faith in Allah...Allah will help u..keep praying!!

 

[carolinetcw]

did you sit for POA? thanks..

 

[XPFMember]

nopes........

 

[Shahnam]

hey.. papers were good. paper 1 was a wee bit tricky but paper2 went quite nice. I made stupid mistakes, balace sheet didnt balance with just $750...
I also made a mistake in the appropritation account where I cancelled out the retained profit from the previous year.. urgh! I had done it correctly at first..

Btw how was yours??

 

[carolinetcw]

paper one was good but not paper 2. I got the limited companies all wrong,but i managed to balance my final accounts. And my correction of error on revised profits,i think i got it all wrong. Whats your profit for appropriation acc,limited company?

 

[Shahnam]

ahan.
In Appropriation A/c, i guess we had to add all the dividends which were for
preference interm paid- $5000
final - $3000
ordinary (.025x whatever was the amount of shares): xxxx
add profit for the year after appropriation: xxxxxxx
add the retained profit c/d: xxxxxx
net profit retained for the year : xxxxxxx

this was easy question just had to rote the format... i feel so bad!!!

 

[carolinetcw]

i remember the ordinary shares being 20 000 =p but i thought including the paid preference interim was wrong.. because my other friend didn't include it.. i dont know... hahaha , it's going to be okay.. i hope. thanks.