Qualification > Commerce
Accounting help ???
Tohru Kyo Sohma:
--- Quote from: Relina on May 30, 2011, 10:48:37 pm ---http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w05_qp_1.pdf
Q 40 also plz
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w06_qp_1.pdf
Q 30 and 33
--- End quote ---
for Qns 33
Answer is C because they are asking for Net Profit
u must see the qns carefully -firstly deduct gross profit from
administration and selling expenses then see under salaries there is salary to staff which will also be deducted then deduct loan as loan is deducted before appropriation to get net profit
there 95000-(31000+29000+3000)=$32000
there u go the answer is C
for qns 30
im not so sure but i guess its like this
the selling expenses will add to the cost.....and u must choose which ever has the lowest cost
so for product X the selling price is least and as for product Y u must add up the cost and selling expenses...as selling expenses will also add up to the cost of a good...therefore the selling price again is lower
therefore $20+$25=$45
and ur answer is C.
~ Miss Relina ~:
--- Quote from: mimiswift on May 30, 2011, 11:58:58 pm ---for Qns 33
Answer is C because they are asking for Net Profit
u must see the qns carefully -firstly deduct gross profit from
administration and selling expenses then see under salaries there is salary to staff which will also be deducted then deduct loan as loan is deducted before appropriation to get net profit
there 95000-(31000+29000+3000)=$32000
there u go the answer is C
for qns 30
im not so sure but i guess its like this
the selling expenses will add to the cost.....and u must choose which ever has the lowest cost
so for product X the selling price is least and as for product Y u must add up the cost and selling expenses...as selling expenses will also add up to the cost of a good...therefore the selling price again is lower
therefore $20+$25=$45
and ur answer is C.
--- End quote ---
Thanks but for Q 30 answer in mk scheme is B
Tohru Kyo Sohma:
--- Quote from: Relina on May 31, 2011, 12:31:19 am ---Thanks but for Q 30 answer in mk scheme is B
--- End quote ---
wait...no ur markscheme say the answer is A
hmmmm.........*thinking*....*thinking*...hmmmm
i dont know then
sorry! :(
Crooked:
Oct nov 06
Q 30
Ans is A.
Howcome ? Stock will be counted of the lower of the cost or the net realisable value.
Fer item X, the lower price is 20. So X will be valued at 20.
Fer item Y, the cost is 22 whereas the net realisable value is 19 (25-6). Yuh'll always need to deduct the selling expenses, yeah. Latter is lowest of the two, yeah ?
Therefore, 20+19 = 39 = A. :D
Hope yuh understood. Do lemme know if yuh've got anymore q's. (:
~ Miss Relina ~:
--- Quote from: Crooked on May 31, 2011, 01:18:14 am ---Oct nov 06
Q 30
Ans is A.
Howcome ? Stock will be counted of the lower of the cost or the net realisable value.
Fer item X, the lower price is 20. So X will be valued at 20.
Fer item Y, the cost is 22 whereas the net realisable value is 19 (25-6). Yuh'll always need to deduct the selling expenses, yeah. Latter is lowest of the two, yeah ?
Therefore, 20+19 = 39 = A. :D
Hope yuh understood. Do lemme know if yuh've got anymore q's. (:
--- End quote ---
ahhhhhhhhha ............... Thanks a lot now i got it so for stock valuation always calculate the cost and the net realisble value(selling price-sellingexpenses) then choose the lower and do what ever asked right ???
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