Qualification > Commerce
Accounts p1 doubts here!
aaakhtar19:
--- Quote from: Crooked on June 02, 2011, 10:10:02 pm ---Post yer q's and i'll try to help.
--- End quote ---
q9
q27
q28
Thanks
aaakhtar19:
--- Quote from: mimiswift on June 02, 2011, 10:27:26 pm ---which specimen paper and which qns
--- End quote ---
speciman ppr 1
q9
q27
q28
all others are quite bearable
bt these r above my mind offfff ???
aaakhtar19:
anyone there??????? ??? ???
or i shud lose hope :P :P
Tohru Kyo Sohma:
--- Quote from: aaakhtar19 on June 02, 2011, 10:31:51 pm ---speciman ppr 1
q9
q27
q28
all others are quite bearable
bt these r above my mind offfff ???
--- End quote ---
ok...qns 9 say that closing stock was over-valued by $6000.....what is the effect of this error...cost of goods sold will decrease and profit will increase....to correct this u must reduce Gross profit by 6000
the second error says that uninsered of theft of goods not taken into account....so purchases was high...cost of goods sold increased and gross profit reduced...to correct this u must add $9000 to gross profit
therefore (6000)+9000=3000
so u addup $3000 to gross profit
and ur answer is C (this is my theory) hope u understand
i ll do the rest in a few minutes
Crooked:
--- Quote from: aaakhtar19 on June 02, 2011, 10:29:43 pm ---q9
q27
q28
Thanks
--- End quote ---
Okkay, so fer q9 the only logical explanation could be this. Yer closing stocks were overvalued so reduce yer gp by 6000. But then yer goods were stolen worth 9000. Therefore, these will be deducted from the purchases which will increase the GP by 3000. (9000-6000) - Yuh need to assume that the sales are fixed. Therefore yer ans is C.
Fer q27, it's A because this will effect the GP fer both the ratios. B and C are incorrect because a change in one variable will inc the GP of one product and reduce the other. D will effect Net profit, not Gross profit.
Fer q28, It's basic. Read yer book. If the price is more than yer marginal cost of production, then yuh should make the products. However, if the price being offered is lower than yer cost of producing one product, it's better to buy the products than making it. :D It's A By the way. :D
Hope yuh understood. (:
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