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Author Topic: Accounts p1 doubts here!  (Read 20541 times)

Offline Tohru Kyo Sohma

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Re: Accounts p1 doubts here!
« Reply #60 on: June 02, 2011, 11:37:17 pm »
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Offline Crooked

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Re: Accounts p1 doubts here!
« Reply #61 on: June 02, 2011, 11:39:50 pm »
Quote from: aaakhtar19 on June 02, 2011, 11:36:37 pm
hey Thanks that was helpful
can v use ths formulae for dividend yield:

(rate of dividend * face val)/market price of share * 100
about the formula, follow the formula they've given with the syllabus. There can be a lot of different formulas to calculate dividend yield, yuh know.

I am not sure about the formula so just check it on the paper where all the formulas are written. But remember, yer formula may not always lead yuh to the correct answer. Use yer common sense at times, yeah ?
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Offline Tohru Kyo Sohma

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Re: Accounts p1 doubts here!
« Reply #62 on: June 02, 2011, 11:40:45 pm »
Quote from: aaakhtar19 on June 02, 2011, 11:36:37 pm
hey Thanks that was helpful
can v use ths formulae for dividend yield:

(rate of dividend * face val)/market price of share * 100
the formula is
(dividend per share/market value of one share) *100
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Offline aaakhtar19

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Re: Accounts p1 doubts here!
« Reply #63 on: June 02, 2011, 11:41:36 pm »
Quote from: Crooked on June 02, 2011, 11:39:50 pm
about the formula, follow the formula they've given with the syllabus. There can be a lot of different formulas to calculate dividend yield, yuh know.

I am not sure about the formula so just check it on the paper where all the formulas are written. But remember, yer formula may not always lead yuh to the correct answer. Use yer common sense at times, yeah ?

okeh
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Offline aaakhtar19

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Re: Accounts p1 doubts here!
« Reply #64 on: June 02, 2011, 11:45:44 pm »
leaving tha forum
gud luck to all of US

hope it wud b ezy
atleast for US :P :P
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Offline Crooked

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Re: Accounts p1 doubts here!
« Reply #65 on: June 02, 2011, 11:50:28 pm »
Quote from: aaakhtar19 on June 02, 2011, 11:45:44 pm
leaving tha forum
gud luck to all of US

hope it wud b ezy
atleast for US :P :P
Best of luck. Not just easy. Yuh should be able to do it. So pray no matter how difficult the paper is, yuh are capable of completing it with ease. :D

All of yuh will ace it, IA. (:
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Offline Dasith

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Re: Accounts p1 doubts here!
« Reply #66 on: June 03, 2011, 04:53:36 am »
Quote from: Crooked on June 02, 2011, 10:45:13 pm
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.


Quote from: mimiswift on June 02, 2011, 10:43:20 pm
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


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?


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Offline Tohru Kyo Sohma

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Re: Accounts p1 doubts here!
« Reply #67 on: June 03, 2011, 05:12:15 am »
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?



i added the stolen stock of 9000.......since they were nt accounted for the profit was less....so i justed added it(my theory)
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Offline Dasith

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Re: Accounts p1 doubts here!
« Reply #68 on: June 03, 2011, 07:01:52 am »
Quote from: mimiswift on June 03, 2011, 05:12:15 am
i added the stolen stock of 9000.......since they were nt accounted for the profit was less....so i justed added it(my theory)

yea i knw we add it to profit , i knw , but y do we add it , because purchases figure was overstated or because the stock(closing ) figure shuld be corrected ! ?
« Last Edit: June 03, 2011, 07:04:03 am by Dasith »
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Offline Tohru Kyo Sohma

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Re: Accounts p1 doubts here!
« Reply #69 on: June 03, 2011, 12:02:29 pm »
Quote from: Dasith on June 03, 2011, 07:01:52 am
yea i knw we add it to profit , i knw , but y do we add it , because purchases figure was overstated or because the stock(closing ) figure shuld be corrected ! ?
because purchase is over stated.....cost increases thus reducing profit.....and we have to add back!
well u didnt need this anymore...! :o
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Offline Dasith

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Re: Accounts p1 doubts here!
« Reply #70 on: June 03, 2011, 03:56:04 pm »
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
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Offline Crooked

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Re: Accounts p1 doubts here!
« Reply #71 on: June 03, 2011, 05:05:27 pm »
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?



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.
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Offline Dasith

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Re: Accounts p1 doubts here!
« Reply #72 on: June 04, 2011, 10:46:49 am »
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.

ok , thanx pal :D
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Re: Accounts p1 doubts here!
« Reply #73 on: November 02, 2011, 03:37:02 pm »
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Offline Dasith

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Re: Accounts p1 doubts here!
« Reply #74 on: November 03, 2011, 12:26:27 am »
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