Qualification > Commerce
Accounting help ???
~ Miss Relina ~:
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w03_qp_1.pdf
Q 22
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_s04_qp_1.pdf
Q 9 why should not include the extension for retailer's shop
Thanks in advance
Tohru Kyo Sohma:
--- Quote from: Relina on May 31, 2011, 09:05:12 am ---http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w03_qp_1.pdf
Q 22
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_s04_qp_1.pdf
Q 9 why should not include the extension for retailer's shop
Thanks in advance
--- End quote ---
ok
qns 22.....first find what was the error...they said that purchase of stationary was entered in the purchases a/c....this means the credit entry of cash/bank was entered correctly.....therefore to rectify the error...u must credit purchases and debit the correct entry...therefore u get debit stationary and credit purchases....answer is B
qns 9....i dont know.....sorry!! :(
Dasith:
--- Quote from: Relina on May 31, 2011, 09:05:12 am ---http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w03_qp_1.pdf
Q 22
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_s04_qp_1.pdf
Q 9 why should not include the extension for retailer's shop
Thanks in advance
--- End quote ---
Question 9 ans , shuld be c , i.e 38000 becoz 2000 is drawings for personel use , i.e not used in the business!,
so owner introduces 40000 capital initially & uses 2000 for his own private use so the business dosent get any benifit / the bought asset is not recorded in business accounts. so it reduces capital.(just like in capital a/c)
but the addition of course is a extention for the shop , the addition is recorded in business books probable as a fixed asset so its a part of capital.
Tohru Kyo Sohma:
--- Quote from: Dasith on May 31, 2011, 10:00:45 am ---Question 9 ans , shuld be c , i.e 38000 becoz 2000 is drawings for personel use , i.e not used in the business!,
so owner introduces 40000 capital initially & uses 2000 for his own private use so the business dosent get any benifit / the bought asset is not recorded in business accounts. so it reduces capital.(just like in capital a/c)
but the addition of course is a extention for the shop , the addition is recorded in business books probable as a fixed asset so its a part of capital.
--- End quote ---
dasith to the rescue ;D
~ Miss Relina ~:
--- Quote from: Dasith on May 31, 2011, 10:00:45 am ---Question 9 ans , shuld be c , i.e 38000 becoz 2000 is drawings for personel use , i.e not used in the business!,
so owner introduces 40000 capital initially & uses 2000 for his own private use so the business dosent get any benifit / the bought asset is not recorded in business accounts. so it reduces capital.(just like in capital a/c)
but the addition of course is a extention for the shop , the addition is recorded in business books probable as a fixed asset so its a part of capital.
--- End quote ---
ok plz also Q 26 in http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w03_qp_1.pdf
Navigation
[0] Message Index
[#] Next page
[*] Previous page
Go to full version