Qualification > Commerce
Accounts p1 doubts here!
Dasith:
here the next ans:
8.o/n 2003
5,here u gotta make the a/c
FA (netbook value) account
Debit Credit:
balance b/d 28000 P&L(dep) 4000
Additions 10000 Disposal 9000
balance c/d 25000
18, k , here 2001 @ balance sheet value of stock is @ cost
so profit here would be
40000 x 20% = 8000
@ 31st december 2002 its the trading a/c which includes the 20% profit they've given
so if u wanna get profit its gonna be
54000 /120 x 20= 9000
factory transfer value is 240000 x 20/100 = 48,000
AS u can see profit of 1000 is unrealised as its not sold yet ! its in closing stock
so we deduct the nrealised profit from factory profit
48000-1000
=47000
23,
current ratio is 2:1
only liability here is creditiors 10,000
if liabilities are 1 current assets are 2(according to ratio)
10000/1 x 2 =20000(current assets )
so if total CA's are 20,000
10000 + 4000 + D- 2000 = 20000
D=8000 //
28,
150/9.5= 15.789(OAR)
9500 x 15.789 =150,000
Actual is 16,000 ;
Budjeted overheads are 150,000
10000 is under absorbed !
Tohru Kyo Sohma:
--- Quote from: Dasith on May 28, 2011, 06:34:36 am ---17)
we recieve cash of 1500 (500 x 3 ) + 250 from debentures
total is 1750 (increse in cash)
net assets = FA + Working capital
working capital includes cash so its incresed by 1750 my ans is (D)
but marking scheme says 1500 ( thats impossible :o )
because no liabilities increse , debenture is a long term liability so it has no
effect to working capital or the FA(fixed assets ) :o
i really dont get it , sorry !!
--- End quote ---
i think its like this;
they receive 1500 from issue of shares
when they issue debentures of 250000 6%
cash is received
there 1500 +250=1750
my theory....guess its right?makes sense to me....how about u?
Dasith:
yea exactly thats hw i did it but its wrong according to mark scheme !!
marking scheme ans is C!!
Tohru Kyo Sohma:
THANK U THANK U THANK U THANK U!! ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D
u actually took all this time to solve my doubts!!!
thank u soooooooooooooooooooooooooooo much!
Dasith:
--- Quote from: mimiswift on May 28, 2011, 04:42:03 pm ---THANK U THANK U THANK U THANK U!! ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D ;D
u actually took all this time to solve my doubts!!!
thank u soooooooooooooooooooooooooooo much!
--- End quote ---
lol , its revision for me i guesss lol ,
& u r welcome ;D
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