Accounting HELP !!!

[elemis]

Thanks a ton!
Also, do you know how the markscheme of the Specimen P1 arrives at the answer of the BRS question? :/

The MS is wrong Dont think too much about it.

[VIP_93]

i have a question... in specimen paper 2 question 3 about clubs...can some1 explain why r wages and depreciation included in the trading account although they should be included in the profit and loss account??
thx in advance

[YNWA]

i have a question... in specimen paper 2 question 3 about clubs...can some1 explain why r wages and depreciation included in the trading account although they should be included in the profit and loss account??
thx in advance

They are the expenses relating to the shop in the club and not the entire club as a whole. In the Club's Income and Expenditure account, under "Incomes" this would appear as profit from shop.

[contraentry]

Best of luck to all doing their Accounting Paper 2 tomorrow, Hopefully it will be a good paper, and we will all do well!

Just another 5 days and the exams are done! I personally can't wait for Summer '10 to start, its gonna be awesome!

[giraffe195]

What do "C/F" and "O/F" mean on the mark schemes?
I've always wondered but never bothered to ask

Own figure and Correct figure.

[elemis]

This is a General Notice to all SF users :

I would like to remind all of you that discussions may not begin until the 24 hour period has passed by.

Thank You aangel42 for noting that point.

[moon]

can u plz help me in questions no. 6,11, 16,22,23,24,30,32,33,39 Nov.06 ppr1
Thanx in advance.

[Alpha]

can u plz help me in questions no. 6,11, 16,22,23,24,30,32,33,39 Nov.06 ppr1
Thanx in advance.

6) B

Capital, opening balance   23 000
Add Capital introduced       2 500
Less Drawings                 (1 500)
Closing Balance               24 000


11) B

Trade discount is decided before transaction takes place, and isn't included in accounting records.
Cash discount given to consumers is considered as an expense, and is recorded => Only if customers pay before a predetermined time period will they receive the cash discount, else not.

16) C

She owes 482. She buys more, she owes more (+260). She pays part of her due, she owes less (-137).

22) B

Bank Interest Credited > The Bank has paid interest to its customer. It will increase his bank balance. Bank Interest received isn't recorded in the Cash Book, until that person has received his bank statement.


Dude, those questions are pretty easy... and I have to admit, I fail to provide explanation for they're so simple. 
Don't mind, but, you need revision. I will advise you to revise your concepts first, and then, try those questions again. If you really cannot, then, I will help.