Qualification > Commerce
help in accounting paper 3 plz
Nanavel:
where did the 10000 came from ??? its killing me ???
saiki:
lol
in prov for depn a/c
sept 30, depreciate the 2 vehicles at 25 % = credit 9000
apr 1, remove the depreciation of the vehicle being sold = debit 4000 (transfer to disposal) n balance is 5000 cr
sep30, depreeciate the remaining vehicle at 25% of its cost = 25% * 20000=5000, cr 5000, hence bal 10000 cr
remember he bought 2 cars, sold 1, still has 1 left that needs to be depreciated.
Nanavel:
Hey saiki .. I really sorry for bothering you ...
actually I used to get 10000 but something is wronge with me I couldnt see it ... I havent slept in days .. I am getting teh right answers but I cannot see it .. I am thinking the whole time that i am wronge and whatsoever .. Jsut now i realised that i have did ALMOST everything you told me .. but I could not think properly .. I have did everything already but i couldnt see it .. Damn it >> i didnt knew that NO SLEEP will do this to me .
I really should get some sleep havent slept since past 2 days .. ** actually i cannot sleep ** when i am nervous or in stress ,Tension.
Anyhow .. Thanx 1000 times for your help .. I will definitly read your posts for me Again :-* (+rep) for you
HUGS
Aodian:
hey anyone can help with the mark up quesiton for october november 2008 question 3C? how the hell do we do the mark up thing?
Monica:
this one is on general....i expalined it yesterday under the thread called accounting..
gross profit margin= gross profit mark up( by subtracting one from the dominator)
so if gross profit=20%=20/100= 1/5
so the gross profit mark up = 1/4(becuz i subtracted one from the dominator)
now gross profit mark up= Gross Profit/ cost of sales
cost of sales= 9500+22000 -17500=14000
mark up= GP/14000
1/4= GP/14000
GP=3500
NOW GET THE SALES EASILY BY= 3500+14000= 17500
HOPE U UNDERSTOOD ANYTHING!!LOL!!
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