Qualification > Commerce

Accounting help ???

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Tohru Kyo Sohma:

--- Quote from: Relina on May 29, 2011, 10:55:57 pm ---hope somebody reply asap http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w02_qp_1.pdf
Q22

--- End quote ---
ok here u go;
the cash book balance is less and the bank statement is more.
Option A-no,because if i paid cheque to supplied and posted it on the wrong side,i.e debited it in the cash book.then to correct it i must add twice the amount on the credit side.this in turn will again reduce by cash book balance
Option B-no,because they show cash book balance less..if it is bank charges..then bank statement's balance should be less.
option C-yes, because u paid cheque to a supplier..and so u reduce the cash book balance, but it is not yet presented in the bank so the bank balance was not reduces. thus the cash book balance was less and bank balance is more.
Option D-no, because u received a cheque, so ur cash book balance is more, and u banked it..but it was not yet credited in the bank statement..so cash book balance here should be more...and bank balance less.
hope u get it! ;D

~ Miss Relina ~:

--- Quote from: mimiswift on May 29, 2011, 11:15:11 pm ---ok here u go;
the cash book balance is less and the bank statement is more.
Option A-no,because if i paid cheque to supplied and posted it on the wrong side,i.e debited it in the cash book.then to correct it i must add twice the amount on the credit side.this in turn will again reduce by cash book balance
Option B-no,because they show cash book balance less..if it is bank charges..then bank statement's balance should be less.
option C-yes, because u paid cheque to a supplier..and so u reduce the cash book balance, but it is not yet presented in the bank so the bank balance was not reduces. thus the cash book balance was less and bank balance is more.
Option D-no, because u received a cheque, so ur cash book balance is more, and u banked it..but it was not yet credited in the bank statement..so cash book balance here should be more...and bank balance less.
hope u get it! ;D

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Thanks alot

Tohru Kyo Sohma:

--- Quote from: Relina on May 29, 2011, 11:58:43 pm ---Thanks alot

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anytime! ;D

~ Miss Relina ~:
another doubts  :(
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w03_qp_1.pdf
Q 5 why we should add accurals when he is not mentioning whether it is accrula income or expenses
Q 28 really need any thing to help withstock valution

Thanks in advance  :)

Tohru Kyo Sohma:

--- Quote from: Relina on May 30, 2011, 12:46:47 pm ---another doubts  :(
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w03_qp_1.pdf
Q 5 why we should add accurals when he is not mentioning whether it is accrula income or expenses
Q 28 really need any thing to help withstock valution

Thanks in advance  :)

--- End quote ---
Qns5.when they dont mention take it as an accrual expense!
so ur answer is B
Qns28.you should take the lowest value.....so for product A the lower value is the net realisable value and for product B the lower value is the cost.
this is one of the accounting principle that u should value stock at lower value. therefore 1500+3500=5000
hope u get it ;D

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