all acc doubts here !!

[Alpha]

Draft a balance sheet.

[skywalker112233]

as in...wht do i do 2 get the bank balance?

[Alpha]

Put it as a missing figure. Then work backward.

[skywalker112233]

kk...will try it...bt r u sure thats da only way...there is no other way 2 do dat yeh..?? thankz man..and wt must i do..2 get rid of the fear of accounts? if u could suggest

[Alpha]

It's the easiest way I find possible.

Remember the equation, it will simplify things:

Assets = Capital + Liabilities

What the business owns = What owner has brought in + What it borrowed

[pastyear]

skywalker112233 , i think you can help me explain my accounting doubts that i posted to test your skills
Thanks

[***exam***]

we seriously need an angel in this thread !! 

[immortal]

I'll b happy, 2 clear any doubts, 2 da best of ma knowledge..

[***exam***]

immortal, refer to the question that you did before you go Q1,
1) how to find the machine hours ratio?
2) what do you mean by deduct fixed costs of Fixed costs as per ratio?
3) Why do we do this?
   36*0.75=27
   36*0.5=18
   36*2/3=24
   36*0.5=18
4) How to get the contribution of  36 ,32,  45 , 55?

then please do clear this 1 

[immortal]

then please do clear this 1 

1)In da question its time taken is given in minutes, so i converted dem 2 hours
   which allowed me to use da eqn
    O.A.R=overhead/machine hours
     OAR is given as $36
       overhead=OAR*machine hours
       for da first product
         36(OAR)*0.75(machine hrs)=27(fixed overhead)
         Now do this 4 da rest of da products.
         4 da 1^st product da profit is 9
         add back fixed overhead($27) 2 get contribution
         which comes 2 $36
Does this solve ur doubt.
 
     
     

[***exam***]

wow ya
Thanks a lot

[pastyear]

2)50% of July's % August's is needed to b produced.
   dat is 150+300=450
   as 10% of production is faulty 450/0.9=500 is needed to b produced as as 450 will b available.  

why do we need to divide by 0.9 by not *90%?

Q2) The table contains information for the two products of a company.
      product X Y respectively :
      contribution per unit $12 , $9
       machine hours required per unit 6, 3
       estimated sales demand 200 , 200
       required machine hours 1200,  600
       machine capacity limited to 1200 hours
       What is the maximum possible contribution?
Ans : $3000

[pastyear]

can anyone answer my questions?
Thanks

[skywalker112233]

yeah..i did that...i used the equation..bt still i didnt get the answer...this is the weirdest quection ive even seen...

[skywalker112233]

skywalker112233 , i think you can help me explain my accounting doubts that i posted to test your skills
Thanks

as in i dint kinaa get you.. :S