Author Topic: ACCOUNTING PAPER 1 (Read 4872 times)

exam · « **Reply #15 on:** June 03, 2010, 07:40:46 pm »

help plz

Pap12 nov 09 (variant 2 )
Q7
Q8
Q9
Q10
Q12

plavelil · « **Reply #16 on:** June 03, 2010, 08:34:22 pm »

question 7 is A

as the sale is debited instead of being credited whereas the other errors will affect the trial balance

q9

is D

as the opening capital - drawings = 15000-3000=12000
and reduce this amount from the net assets 20000-12000=8000

plavelil · « **Reply #17 on:** June 03, 2010, 08:37:21 pm »

q 10 is c

the formula u have to remeber is closing stock*(factory cost plus/ 100+factory cost plus)
i.e. 3000*(20/ 100+20)= 500

coco pops · « **Reply #18 on:** June 03, 2010, 09:05:50 pm »

q8) ans is A
error 1 is reversal entry so 200 needs to be added on credit side
error 2 dsnt make a diff ..as telephone wil be debit n its entrd in insurance so its debit..so no changes made
error 3 u need to add 10 more to the debit side

so 200 credit 10 debit =190 credit balance

q12) ans is D
opening capital+profit-drawings=closing capital
so that means profit=closing capital+drawings-opening capital
Openin capital= 10000 <year 1s net asset>
drawings=3000
closing capital= 14000 <year 2s net asset>

hence profit = 14000+3000-10000
=7000

exam · « **Reply #19 on:** June 03, 2010, 09:13:22 pm »

oh Thanks sooooooooooooo much both of u'll

:D:D

exam · « **Reply #20 on:** June 03, 2010, 09:20:12 pm »

same pap 12 nov 09

Q1
Q17
Q22
Q23
Q29
$:-\$

plavelil · « **Reply #21 on:** June 03, 2010, 09:27:48 pm »

q29

first get difference betweenclosing stock and opening stock i.e. 28200-25200=3000 units
then

100800/3000=33.6 & 120300/ 3000=40.1

then take the difference between the 2 answers

40.1-33.6=6.5

coco pops · « **Reply #22 on:** June 03, 2010, 09:28:09 pm »

1) ans is B
6000/4 =1500
so 1500 on april n july =3000 + 500 (1500/3 for month of oct)
so 3500 in pnl and 1000 liabilty as it is prepaid revenue

17) bonus issue dsnt raisse bank balance
so 1st u calculate number of shares issued in bonus that is 3000
then no. of rights issue issued that is 7500
7500*1.6=12000 balnce inc by 12000

22) dividen yield=dividen per share * (norminal value/ market value)*100
4%=0.16*(1/X)*100
X=4

23) B..tht ws jst a gues frm me n i gt it rite

29) OAR= (120300-100800)/(28200-25200) =6.5

exam · « **Reply #23 on:** June 03, 2010, 10:54:57 pm »

oh Thanks a lottttt agin !!

exam · « **Reply #24 on:** June 03, 2010, 11:28:54 pm »

Nov 08 pap1
Q16
Q20
Q22
Q23
Q28
Q30

help again

any time b4 gmt 3 am would be gr8

coco pops · « **Reply #25 on:** June 04, 2010, 04:33:22 am »

how do you calculate working capital cycle?!?!?
may june 06 Q26

coco pops · « **Reply #26 on:** June 04, 2010, 04:49:04 am »

oct nov 06 Q16,25,26
O/n 08 q27 n 28
Mj 08 q21

immortal · « **Reply #27 on:** June 04, 2010, 12:37:24 pm »

How waz ur accounting paper?

exam · « **Reply #28 on:** June 04, 2010, 01:18:32 pm »

wowa not good

immortal · « **Reply #29 on:** June 04, 2010, 02:36:29 pm »

did u get 4 C's & 3C's in a row.

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