Qualification > Commerce
Accounts p1 doubts here!
Dasith:
i was thinking hw purchases are gonna be overstated :O , because usually u take only the purchases made by customers into purchases , it shuldent include stock stolen i suppose ,
By the way i'm gonna need it because i'm doing A2 this month 2 :D
Crooked:
--- Quote from: Dasith on June 03, 2011, 04:53:36 am ---
Do u deduct stolen stock from purchases , or the Closing stock.
Since the closing stock is on physical count basis , the closing stock will be less in trading(it will incude the stolen amount ) so in order to correct that :
Double entry is : credit stock a/c
Debit P/L
rite?
--- End quote ---
When yuh draw goods yuh deduct it from yer purchases, yeah ? Yuh've to apply the same concept here as well. We've to assume sometimes, yeah.
Dasith:
--- Quote from: Crooked on June 03, 2011, 05:05:27 pm ---When yuh draw goods yuh deduct it from yer purchases, yeah ? Yuh've to apply the same concept here as well. We've to assume sometimes, yeah.
--- End quote ---
ok , thanx pal :D
Alpha:
http://www.xtremepapers.com/CIE/International%20A%20And%20AS%20Level/9706%20-%20Accounts/9706_w09_qp_12.pdf
No 17.
I get 12 000. :\
Dasith:
--- Quote from: ~Alpha on November 02, 2011, 03:37:02 pm ---http://www.xtremepapers.com/CIE/International%20A%20And%20AS%20Level/9706%20-%20Accounts/9706_w09_qp_12.pdf
No 17.
I get 12 000. :\
--- End quote ---
its supposed to be 12000 , (another amazing mistake by CIE ) :P
check same year qustion paper 11, question 18
http://www.xtremepapers.com/CIE/International%20A%20And%20AS%20Level/9706%20-%20Accounts/9706_w09_qp_11.pdf
& the answer in marking scheme for the same year question 18
http://www.xtremepapers.com/CIE/International%20A%20And%20AS%20Level/9706%20-%20Accounts/9706_w09_ms_11.pdf
same question 2 answers , definetely an error made by em
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