Qualification > Commerce
Accounts p1 doubts here!
Dasith:
--- Quote from: mimiswift on June 02, 2011, 03:32:17 am ---im doing it now hehe........i have no idea! :(
im flunking
--- End quote ---
ok puttting it simply , (as i get it ) Purchases ledger is correct ! , error when transferring 63000 to trial balance
63000 entered as 36000, so only the trial balance value & suspense should be corrected(with 27 000 as difference ) according to me ! , but mark scheme gives the ans as D i think :O , & i'm not sure y they give it like that , sorry !
Tohru Kyo Sohma:
--- Quote from: Dasith on June 02, 2011, 03:41:49 am ---ok puttting it simply , (as i get it ) Purchases ledger is correct ! , error when transferring 63000 to trial balance
63000 entered as 36000, so only the trial balance value & suspense should be corrected(with 27 000 as difference ) according to me ! , but mark scheme gives the ans as D i think :O , & i'm not sure y they give it like that , sorry !
--- End quote ---
its ok.....i just hope these type of qns doesnt come....anyway..im going to sleep now!
byebye
Tohru Kyo Sohma:
ok....i dont understand this qns in oct/nov 2002 qns19.
Crooked:
--- Quote from: mimiswift on June 02, 2011, 09:10:53 pm ---ok....i dont understand this qns in oct/nov 2002 qns19.
--- End quote ---
I believe the answer is A.
19 At the beginning of the year a company has authorised share capital of 200 000 $0.50 ordinary
shares and issued share capital of 100 000 $0.50 ordinary shares. During the year the company
makes a further issue of 50 000 $0.50 ordinary shares at a price of $1.20 each.
What is the balance on the Share Capital account at the end of the year?
A $75 000 B $110 000 C $125 000 D $160 000
100000 * 0.50 = 50000 were issued at first. Which means that the share capital at the start was $50000. :D
Later, the company issues 50000 shares at the market value of 1.20. Remember, they are asking yuh the value in the share capital account. Not the premium. Therefore, 50000 * 0.50 = $25000
Therefore, the total value in the end was $75000. :D ; A.
Hope yuh understood. (:
Tohru Kyo Sohma:
--- Quote from: Crooked on June 02, 2011, 09:22:01 pm ---I believe the answer is A.
19 At the beginning of the year a company has authorised share capital of 200 000 $0.50 ordinary
shares and issued share capital of 100 000 $0.50 ordinary shares. During the year the company
makes a further issue of 50 000 $0.50 ordinary shares at a price of $1.20 each.
What is the balance on the Share Capital account at the end of the year?
A $75 000 B $110 000 C $125 000 D $160 000
100000 * 0.50 = 50000 were issued at first. Which means that the share capital at the start was $50000. :D
Later, the company issues 50000 shares at the market value of 1.20. Remember, they are asking yuh the value in the share capital account. Not the premium. Therefore, 50000 * 0.50 = $25000
Therefore, the total value in the end was $75000. :D ; A.
Hope yuh understood. (:
--- End quote ---
i got it......my mistake was that i didnt consider the price $0.5
thanx alot
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