Qualification > Commerce
Accounts p1 doubts here!
Alpha:
Thanks a lot Dasith. :)
Yup, I just wanted to check with someone else in case it was me who made the mistake.
I'm compiling all CIE's legendary mistakes, gonna put them in a museum. :P
Dasith:
--- Quote from: ~Alpha on November 03, 2011, 07:06:57 am ---Thanks a lot Dasith. :)
Yup, I just wanted to check with someone else in case it was me who made the mistake.
I'm compiling all CIE's legendary mistakes, gonna put them in a museum. :P
--- End quote ---
Np , collecting CIE mistakes ::) how jobless can u get ? :P . But this CIE they make mistakes like this & never bother to correct em , & da worst part is they never accept that they hav made a mistake .. i mean its fine if they make a mistake & be fair by accepting it , instead of saying that the students answerd it wrong !
Alpha:
Sarcasm Dasith, sarcasm. :P
Yes, you right there. They commit mistakes, we lose.
Alias:
Can someone please help me with accounting mcq questions 9706
M/j 2010 v12 q 6 and 13??? ???
Tohru Kyo Sohma:
hello there,
Qns6. they are asking the total sales for 30 april 2010
we have to take the first item...that is the credit sales....the second item is also sold but invoiced later...still its a sale....so we consider it too...the third item is not taken because its on sale or return basis .....so according to the accounting concept of realization...its not considered a sale until the customer actually pays for it!so its B
Qns13.so they are asking for the factory profit at COST OF PRODUCTION.---->we have opening stock of finished goods...we have costs of goods produced.....but closing stock of finished goods is at profit......so we have to take the profit out from it.
this is how we do it---> cost*120%(we add 100+20 ask we need the total amount not just profit)=54000
cost=54000/120%
cost=$45000
so now we have the closing stock of finished goods as $45000
there 240000+40000-45000=235000*20%(to find profit)
factory profit=$47000 and its C
hope you understand it!:D
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