IGCSE/GCSE/O & A Level/IB/University Student Forum
Qualification => Subject Doubts => IGCSE/ GCSE => Commerce => Topic started by: ~ Miss Relina ~ on March 31, 2011, 10:47:33 pm
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can anyone post anthing to help with last part of the syllabus which is about the accounting policies (8.2)
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can anyone post anthing to help with last part of the syllabus which is about the accounting policies (8.2)
You all the policies and concepts(i.e. prudence etc.)?
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You all the policies and concepts(i.e. prudence etc.)?
no the policies i will post the syllabus here 8.2 only
http://www.xtremepapers.net/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_y11_sy.pdf
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http://www.accountingcoach.com/online-accounting-course/09Xpg01.html
http://www.businessbookmall.com/Accounting%20Principles.pdf
You'll get everything you need...
And I found this interesting, might be of some interest. ;)
http://www.principlesofaccounting.com/
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Check these too, cover other parts of the syllabus:
http://www.accountingcoach.com/viewer.html
http://www.principlesofaccounting.com/questions%20-%20problems/comprehensive%20problems%20for%20chapter%2016/chapter%2016%20-%20comprehensive%20problems%20table.htm
http://www.accountingcoach.com/business-forms/
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Check these too, cover other parts of the syllabus:
http://www.accountingcoach.com/viewer.html
http://www.principlesofaccounting.com/questions%20-%20problems/comprehensive%20problems%20for%20chapter%2016/chapter%2016%20-%20comprehensive%20problems%20table.htm
http://www.accountingcoach.com/business-forms/
Thanks abillion times Thanks Thanks i really appreciate ur help much i've addded reputation too
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Thanks abillion times Thanks Thanks i really appreciate ur help much i've addded reputation too
No worries. I'm here to help. :)
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No worries. I'm here to help. :)
You didn't help me :(
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You didn't help me :(
You have a gender superiority complex. ::)
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You have a gender superiority complex. ::)
Ya ya, thats why i have so many opposite gender friends :P
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Ya ya, thats why i have so many opposite gender friends :P
Righttttttttt.....
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Righttttttttt.....
Yesh ;D
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Ya ya, thats why i have so many opposite gender friends :P
"Friends"... You 'auntify' them... ::)
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"Friends"... You 'auntify' them... ::)
I did to some only ;D ok i admit majority are auntified :P
but still not all only 5% are not aunties :P
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I did to some only ;D ok i admit majority are auntified :P
but still not all only 5% are not aunties :P
5%... as if you were talking of the Chinese population. Anyway. ::)
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I did to some only ;D ok i admit majority are auntified :P
but still not all only 5% are not aunties :P
Did you know that 72.5 % of all statistics are made up on the spot ?
Try and figure out that paradox ;)
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Did you know that 72.5 % of all statistics are made up on the spot ?
Try and figure out that paradox ;)
LOL, Ari. :P
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pls, can u help me in ppr3 Nov. 03 Q5.(a) error 3 & 5? ??? ???
Thanks in advance.
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pls, can u help me in ppr3 Nov. 03 Q5.(a) error 3 & 5? ??? ???
Thanks in advance.
error 3... 2000$ to subtract from profit
because depreciation reduces profit :)
error 5... 20$ to subtract from profit
:)
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hope somebody reply asap http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w02_qp_1.pdf
Q22
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hope somebody reply asap http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w02_qp_1.pdf
Q22
ok here u go;
the cash book balance is less and the bank statement is more.
Option A-no,because if i paid cheque to supplied and posted it on the wrong side,i.e debited it in the cash book.then to correct it i must add twice the amount on the credit side.this in turn will again reduce by cash book balance
Option B-no,because they show cash book balance less..if it is bank charges..then bank statement's balance should be less.
option C-yes, because u paid cheque to a supplier..and so u reduce the cash book balance, but it is not yet presented in the bank so the bank balance was not reduces. thus the cash book balance was less and bank balance is more.
Option D-no, because u received a cheque, so ur cash book balance is more, and u banked it..but it was not yet credited in the bank statement..so cash book balance here should be more...and bank balance less.
hope u get it! ;D
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ok here u go;
the cash book balance is less and the bank statement is more.
Option A-no,because if i paid cheque to supplied and posted it on the wrong side,i.e debited it in the cash book.then to correct it i must add twice the amount on the credit side.this in turn will again reduce by cash book balance
Option B-no,because they show cash book balance less..if it is bank charges..then bank statement's balance should be less.
option C-yes, because u paid cheque to a supplier..and so u reduce the cash book balance, but it is not yet presented in the bank so the bank balance was not reduces. thus the cash book balance was less and bank balance is more.
Option D-no, because u received a cheque, so ur cash book balance is more, and u banked it..but it was not yet credited in the bank statement..so cash book balance here should be more...and bank balance less.
hope u get it! ;D
Thanks alot
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Thanks alot
anytime! ;D
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another doubts :(
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w03_qp_1.pdf
Q 5 why we should add accurals when he is not mentioning whether it is accrula income or expenses
Q 28 really need any thing to help withstock valution
Thanks in advance :)
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another doubts :(
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w03_qp_1.pdf
Q 5 why we should add accurals when he is not mentioning whether it is accrula income or expenses
Q 28 really need any thing to help withstock valution
Thanks in advance :)
Qns5.when they dont mention take it as an accrual expense!
so ur answer is B
Qns28.you should take the lowest value.....so for product A the lower value is the net realisable value and for product B the lower value is the cost.
this is one of the accounting principle that u should value stock at lower value. therefore 1500+3500=5000
hope u get it ;D
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http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w06_qp_1.pdf
Q22 explain each choice plz Thanks in advace
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http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w06_qp_1.pdf
Q22 explain each choice plz Thanks in advace
ok
Option A-no, because bank charges reduces bank balance.....thus bank balance will be lower than cash book balance.
Option B-yes, because when u deposit money in a bank u receive bank interest....therefore bank already credits it in ur bank balance, but the business wont know of this transaction until it receice the bank statement...therefore bank balance will be more than cash book balance.
Option C-no, because when u receive a cheque from a credit customer ur cash book balance will increase, if sufficient amount is not available in the customers bank balance then the cheque will be dishonoured..thus bank balance will be lower than cash book balance.
Option D-no, because when standing orders is paid ur bank balance reduces, cash book balance will be higher.
hope u understand
if not then u can ask me ;D
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ok
Option A-no, because bank charges reduces bank balance.....thus bank balance will be lower than cash book balance.
Option B-yes, because when u deposit money in a bank u receive bank interest....therefore bank already credits it in ur bank balance, but the business wont know of this transaction until it receice the bank statement...therefore bank balance will be more than cash book balance.
Option C-no, because when u receive a cheque from a credit customer ur cash book balance will increase, if sufficient amount is not available in the customers bank balance then the cheque will be dishonoured..thus bank balance will be lower than cash book balance.
Option D-no, because when standing orders is paid ur bank balance reduces, cash book balance will be higher.
hope u understand
if not then u can ask me ;D
soory but i donot undersatnd option one :-[
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http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w05_qp_1.pdf
Q 40 also plz
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w06_qp_1.pdf
Q 30 and 33
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soory but i donot undersatnd option one :-[
ok...so the qns asks in which situation will bank balance be more than cash book balance
option A say that there are bank charges.....here bank balance reduces..as the bank will charge it....but the cash book will be more as they will only know about this transaction after they receive the bank statement!
get it or do u need more explanation ;D
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ok...so the qns asks in which situation will bank balance be more than cash book balance
option A say that there are bank charges.....here bank balance reduces..as the bank will charge it....but the cash book will be more as they will only know about this transaction after they receive the bank statement!
get it or do u need more explanation ;D
ahhha you mean that the bank takes charges from my account in it so it reduces but my cask book not affected yet as we still donot know is that what u mean :)
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http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w05_qp_1.pdf
Q 40 also plz
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w05_qp_1.pdf
Q 30
qns 40- asks where overhead expenses is least.....for this u need to calculate overhead expenses %.....the formula is gross profit %-Net profit %
Option A - its 17%
Option B- its 15%
Option C- its 18%
Option D- its 19%
so u see overhead expenses % is least in option B
so thats ur answer
qns 30-
obviously its A because current account balance...it will be shown under the capital....and did u notice that all capital accounts have a credit balance...like even capital a/c itself......study the current a/c format....its shows a credit balance b/d
hope u understand!
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ahhha you mean that the bank takes charges from my account in it so it reduces but my cask book not affected yet as we still donot know is that what u mean :)
yes...thats exactly what i mean.
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qns 40- asks where overhead expenses is least.....for this u need to calculate overhead expenses %.....the formula is gross profit %-Net profit %
Option A - its 17%
Option B- its 15%
Option C- its 18%
Option D- its 19%
so u see overhead expenses % is least in option B
so thats ur answer
qns 30-
obviously its A because current account balance...it will be shown under the capital....and did u notice that all capital accounts have a credit balance...like even capital a/c itself......study the current a/c format....its shows a credit balance b/d
hope u understand!
abt the second exam could u plz see my previous posrt i modified it soorry again dear
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http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w05_qp_1.pdf
Q 40 also plz
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w06_qp_1.pdf
Q 30 and 33
herwe they are second exam plz
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http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w05_qp_1.pdf
Q 40 also plz
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w06_qp_1.pdf
Q 30 and 33
for Qns 33
Answer is C because they are asking for Net Profit
u must see the qns carefully -firstly deduct gross profit from
administration and selling expenses then see under salaries there is salary to staff which will also be deducted then deduct loan as loan is deducted before appropriation to get net profit
there 95000-(31000+29000+3000)=$32000
there u go the answer is C
for qns 30
im not so sure but i guess its like this
the selling expenses will add to the cost.....and u must choose which ever has the lowest cost
so for product X the selling price is least and as for product Y u must add up the cost and selling expenses...as selling expenses will also add up to the cost of a good...therefore the selling price again is lower
therefore $20+$25=$45
and ur answer is C.
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for Qns 33
Answer is C because they are asking for Net Profit
u must see the qns carefully -firstly deduct gross profit from
administration and selling expenses then see under salaries there is salary to staff which will also be deducted then deduct loan as loan is deducted before appropriation to get net profit
there 95000-(31000+29000+3000)=$32000
there u go the answer is C
for qns 30
im not so sure but i guess its like this
the selling expenses will add to the cost.....and u must choose which ever has the lowest cost
so for product X the selling price is least and as for product Y u must add up the cost and selling expenses...as selling expenses will also add up to the cost of a good...therefore the selling price again is lower
therefore $20+$25=$45
and ur answer is C.
Thanks but for Q 30 answer in mk scheme is B
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Thanks but for Q 30 answer in mk scheme is B
wait...no ur markscheme say the answer is A
hmmmm.........*thinking*....*thinking*...hmmmm
i dont know then
sorry! :(
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Oct nov 06
Q 30
Ans is A.
Howcome ? Stock will be counted of the lower of the cost or the net realisable value.
Fer item X, the lower price is 20. So X will be valued at 20.
Fer item Y, the cost is 22 whereas the net realisable value is 19 (25-6). Yuh'll always need to deduct the selling expenses, yeah. Latter is lowest of the two, yeah ?
Therefore, 20+19 = 39 = A. :D
Hope yuh understood. Do lemme know if yuh've got anymore q's. (:
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Oct nov 06
Q 30
Ans is A.
Howcome ? Stock will be counted of the lower of the cost or the net realisable value.
Fer item X, the lower price is 20. So X will be valued at 20.
Fer item Y, the cost is 22 whereas the net realisable value is 19 (25-6). Yuh'll always need to deduct the selling expenses, yeah. Latter is lowest of the two, yeah ?
Therefore, 20+19 = 39 = A. :D
Hope yuh understood. Do lemme know if yuh've got anymore q's. (:
ahhhhhhhhha ............... Thanks a lot now i got it so for stock valuation always calculate the cost and the net realisble value(selling price-sellingexpenses) then choose the lower and do what ever asked right ???
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http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w03_qp_1.pdf
Q 22
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_s04_qp_1.pdf
Q 9 why should not include the extension for retailer's shop
Thanks in advance
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http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w03_qp_1.pdf
Q 22
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_s04_qp_1.pdf
Q 9 why should not include the extension for retailer's shop
Thanks in advance
ok
qns 22.....first find what was the error...they said that purchase of stationary was entered in the purchases a/c....this means the credit entry of cash/bank was entered correctly.....therefore to rectify the error...u must credit purchases and debit the correct entry...therefore u get debit stationary and credit purchases....answer is B
qns 9....i dont know.....sorry!! :(
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http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w03_qp_1.pdf
Q 22
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_s04_qp_1.pdf
Q 9 why should not include the extension for retailer's shop
Thanks in advance
Question 9 ans , shuld be c , i.e 38000 becoz 2000 is drawings for personel use , i.e not used in the business!,
so owner introduces 40000 capital initially & uses 2000 for his own private use so the business dosent get any benifit / the bought asset is not recorded in business accounts. so it reduces capital.(just like in capital a/c)
but the addition of course is a extention for the shop , the addition is recorded in business books probable as a fixed asset so its a part of capital.
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Question 9 ans , shuld be c , i.e 38000 becoz 2000 is drawings for personel use , i.e not used in the business!,
so owner introduces 40000 capital initially & uses 2000 for his own private use so the business dosent get any benifit / the bought asset is not recorded in business accounts. so it reduces capital.(just like in capital a/c)
but the addition of course is a extention for the shop , the addition is recorded in business books probable as a fixed asset so its a part of capital.
dasith to the rescue ;D
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Question 9 ans , shuld be c , i.e 38000 becoz 2000 is drawings for personel use , i.e not used in the business!,
so owner introduces 40000 capital initially & uses 2000 for his own private use so the business dosent get any benifit / the bought asset is not recorded in business accounts. so it reduces capital.(just like in capital a/c)
but the addition of course is a extention for the shop , the addition is recorded in business books probable as a fixed asset so its a part of capital.
ok plz also Q 26 in http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w03_qp_1.pdf
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ok
qns 22.....first find what was the error...they said that purchase of stationary was entered in the purchases a/c....this means the credit entry of cash/bank was entered correctly.....therefore to rectify the error...u must credit purchases and debit the correct entry...therefore u get debit stationary and credit purchases....answer is B
qns 9....i dont know.....sorry!! :(
Thanks alot really appreciate ur help ;)
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ok plz also Q 26 in http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w03_qp_1.pdf
hmm its 15000, P/L is on accrual basis & not cash basis , so rent for 9 months from april to december!
9/12 x 20000 = 15000(for 9 months)
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Question 9 ans , shuld be c , i.e 38000 becoz 2000 is drawings for personel use , i.e not used in the business!,
so owner introduces 40000 capital initially & uses 2000 for his own private use so the business dosent get any benifit / the bought asset is not recorded in business accounts. so it reduces capital.(just like in capital a/c)
but the addition of course is a extention for the shop , the addition is recorded in business books probable as a fixed asset so its a part of capital.
mmmmm then u mean that the drawings will reduce capital and the extension is not cosidered a drawing so capital not affected :D
Thanks alot
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Thanks alot really appreciate ur help ;)
ur welcome!
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hmm its 15000, P/L is on accrual basis & not cash basis , so rent for 9 months from april to december!
9/12 x 20000 = 15000(for 9 months)
omg Thanks i've really confused myself by looking at the info. the Q gave ur method is much faster and easier :) :D
Thanks
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mmmmm then u mean that the drawings will reduce capital and the extension is not cosidered a drawing so capital not affected :D
Thanks alot
omg Thanks i've really confused myself by looking at the info. the Q gave ur method is much faster and easier :) :D
Thanks
u r welcome ;D
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ahhhhhhhhha ............... Thanks a lot now i got it so for stock valuation always calculate the cost and the net realisble value(selling price-sellingexpenses) then choose the lower and do what ever asked right ???
Precisely. =]
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plz doubts again sorry for disturbing and Thanks in advance :
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w07_qp_1.pdf
Q 19
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_s09_qp_1.pdf
Q 23
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w08_qp_1.pdf
Q 35
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w09_qp_1.pdf
Q 8 and Q 25
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plz doubts again sorry for disturbing and Thanks in advance :
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w07_qp_1.pdf
Q 19
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_s09_qp_1.pdf
Q 23
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w08_qp_1.pdf
Q 35
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w09_qp_1.pdf
Q 8 and Q 25
i think for qns 19 ...i ll try to explain with a simple example.....Purchase goods on credit for $30.....the double entry transaction is
puchases Dr.
Creditor Cr.
u did purchases right...but instead of crediting $30 in creditors a/c u debit it.Therefore u get a debit balance b/d.....and hence the trail balance will have on the debit side $30 from purchases and $30 from creditors
hence ur answer is D that is total debits $60 more than total credits
qns 23....ok...so the answer here is B....because repairs is revenue expenditure....new tyre bought is revenue exp as well....whereas the others office equipments will be used for more than a year in the business.....and the carriage of OE.....is the cost along with it...therefore they are cap exp....extension to building is aslso cap expenditure as it will used for a long time
sorry...im in a hurry....im not very good in explaining.....i have a business exam tomorrow!so i have to go
sorry again
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plz doubts again sorry for disturbing and Thanks in advance :
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w07_qp_1.pdf
Q 19
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_s09_qp_1.pdf
Q 23
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w08_qp_1.pdf
Q 35
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w09_qp_1.pdf
Q 8 and Q 25
the rest of the ans ;) :D
last one Q 8
Stationary a/c
[/b]DR: CR:
balance b/d 60 Profit & loss 220
cash 250 Balance c/d 90
question 25
Cost of assets as @ 1 jan 2008 = 18000 + 12000
= 30000
Depreciation st.line @ 25% of cost(not book value ;) )= 30000 x 25/100
= 7500
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ohh yea & the ans for 35th Q
ans i (D) i think
because all others relate to debtors or sales, which is needed to calculate sales , but the last one is returns outwards,
i.e for suppliers , which is to do with purchases , so its not usually taken when calculating sales
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i think for qns 19 ...i ll try to explain with a simple example.....Purchase goods on credit for $30.....the double entry transaction is
puchases Dr.
Creditor Cr.
u did purchases right...but instead of crediting $30 in creditors a/c u debit it.Therefore u get a debit balance b/d.....and hence the trail balance will have on the debit side $30 from purchases and $30 from creditors
hence ur answer is D that is total debits $60 more than total credits
qns 23....ok...so the answer here is B....because repairs is revenue expenditure....new tyre bought is revenue exp as well....whereas the others office equipments will be used for more than a year in the business.....and the carriage of OE.....is the cost along with it...therefore they are cap exp....extension to building is aslso cap expenditure as it will used for a long time
sorry...im in a hurry....im not very good in explaining.....i have a business exam tomorrow!so i have to go
sorry again
oh no problem dear Thanks alot By the way u are good at explaining ;D
ah and good luck with ur business exam :D hope u do good :)
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the rest of the ans ;) :D
last one Q 8
Stationary a/c
[/b]DR: CR:
balance b/d 60 Profit & loss 220
cash 250 Balance c/d 90
question 25
Cost of assets as @ 1 jan 2008 = 18000 + 12000
= 30000
Depreciation st.line @ 25% of cost(not book value ;) )= 30000 x 25/100
= 7500
Thanks alot i thuoght no one will do that reaally appreciate ur help :D
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ohh yea & the ans for 35th Q
ans i (D) i think
because all others relate to debtors or sales, which is needed to calculate sales , but the last one is returns outwards,
i.e for suppliers , which is to do with purchases , so its not usually taken when calculating sales
u know when i first looked at ur first post i thought u forgot to answer the previuos one then i realised that u remembered .....lol ;)
By the way Thanks alot
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u know when i first looked at ur first post i thought u forgot to answer the previuos one then i realised that u remembered .....lol ;)
By the way Thanks alot
haha ,lol na its u r way of asking questions , it was a bit too condusing ! lol ;) , i thaught it was first the question & then the link lol !! , & then i realised ;)
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oh no problem dear Thanks alot By the way u are good at explaining ;D
ah and good luck with ur business exam :D hope u do good :)
i just have 1 accounting paper left now.....business p22 was good....all that i practiced came ;D
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i just have 1 accounting paper left now.....business p22 was good....all that i practiced came ;D
u mean from pastpapers right ??
but i realised that i i'm in big problem i found questions in pastpaperabt the prefernce shares , debentures ,authorised capital,called-up capital ,paid-up capital plz if u u know anything just post alink feeling terrible right now :'( :'( :'(
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u mean from pastpapers right ??
but i realised that i i'm in big problem i found questions in pastpaperabt the prefernce shares , debentures ,authorised capital,called-up capital ,paid-up capital plz if u u know anything just post alink feeling terrible right now :'( :'( :'(
http://www.legalserviceindia.com/company%20law/com_2.htm
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http://www.legalserviceindia.com/company%20law/com_2.htm
Thanks i found that i;m donot know a single word in section 6.3 plz plz anyone help with it what do we need to know ? ishow do we prapers the aapp account ??? anything but help time running out
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_y11_sy.pdf
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ok wat the Aprropriation accout does is , it distributes / allocates profits betweeen different activities / requirements.
i.e pay dividents , transfer to reserve etc
go thru the format in the book & u r done !
in short:
- Preferance shares hav low risk , Has more priority over the ordinary (i.e preferance is pad before ordinary), has a fixed % of return(return may be usually lower than ordinary)
-Called up share capital- word itself gives meaning ! , shares which hav been callled up for paymnet
-paid up share capital - here the word paid gives the meaning, wat has been actually paid 4 shares called up.
authorized share capital- max shares company can issue( issued shares cannot exceed this)
Debentures - its a long term loan , with fixed intereest (very low risk )
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ok wat the Aprropriation accout does is , it distributes / allocates profits betweeen different activities / requirements.
i.e pay dividents , transfer to reserve etc
go thru the format in the book & u r done !
in short:
- Preferance shares hav low risk , Has more priority over the ordinary (i.e preferance is pad before ordinary), has a fixed % of return(return may be usually lower than ordinary)
-Called up share capital- word itself gives meaning ! , shares which hav been callled up for paymnet
-paid up share capital - here the word paid gives the meaning, wat has been actually paid 4 shares called up.
authorized share capital- max shares company can issue( issued shares cannot exceed this)
Debentures - its a long term loan , with fixed intereest (very low risk )
Thanks pal , really helpful but u know my i thoiught ny book included everything but i was surprised by that question asking details abt everything when checked syllabus i found it and my book donot include anything searched internet but not finiding anything specific until now that all :( :( :(
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Dosent the link by alpha , give the details , i think its pretty gud web site !
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Dosent the link by alpha , give the details , i think its pretty gud web site !
yah i now i think that because at first i didinot know anything from the whole stuff so just reading definitons couldn't help but now Thanks to God i'm alright now i searched the stuff and am OK Thanks for all ur efforts dear ;D
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http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w10_qp_21.pdf
guys in Q1 how to calculate the closingtock wht is the mark up of stock ????
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Q no. 4 queston d part how do we get the capital emlpoyed
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w10_qp_21.pdf
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_s09_qp_2.pdf
here q 2 (d)
Qguys what is the limitations of accounting statements due to such factors as:difficulties of definition
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http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w10_qp_21.pdf
guys in Q1 how to calculate the closingtock wht is the mark up of stock ????
okay Thanks guys my friend solved it
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Q http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_w10_qp_21.pdf
no. 4 queston d part how do we get the capital emlpoyed
Qguys what is the limitations of accounting statements due to such factors as:difficulties of definition
u sure u posted the correct link here ??
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u sure u posted the correct link here ??
yes i'm and another doubt is added too
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ok...so this is a doubt from my cousin's ....i couldnt solve it....its qns 2 part(d) 0452/22/m/j/10
and qns 4 part(a) the double entry part...explain the answer (its the same paper)
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can someone help me in solving Q1(c)in june 2010 ppr13 and in june 2007 ppr 2 Q3(a) rent account only how did we get the $300 in the profit and loss account?thanx in advance.. :)
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can someone help me in solving Q1(c)in june 2010 ppr13 and in june 2007 ppr 2 Q3(a) rent account only how did we get the $300 in the profit and loss account?thanx in advance.. :)
i am trying to find that ppr 13 thing too :(
And about that 300..
The info says: 900 quarterly paid so.. 900 x 1/3 ;)
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can someone help me in solving Q1(c)in june 2010 ppr13
I tried solving it too but it's useless. There's a flaw, i am sure. These idiots do mess up sometimes. According to my calculations, the ans is sps to be B. Idk how in the world they got A. =/
So don't worry yeah. Try focusing on other q's. Best of luck. Ace yer exams.
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ok...so this is a doubt from my cousin's ....i couldnt solve it....its qns 2 part(d) 0452/22/m/j/10
and qns 4 part(a) the double entry part...explain the answer (its the same paper)
4.
a)
i) same a/c on the credit, as balance c/d, prepaid during previous financial year ending 31 march 2009
ii)This is the actual cash paid(from bank) , this amount represents the amount paid for rent by the businesss for the financial year ending 31st march 2010. Since its cash paid from business its a credit on the bank a/c.
iii)This is the amount that should be actually paid for this financial year., since its an expence for this year its debited in Profit & loss ( income statement), This figure is on accrual basis.(matching concept)
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I tried solving it too but it's useless. There's a flaw, i am sure. These idiots do mess up sometimes. According to my calculations, the ans is sps to be B. Idk how in the world they got A. =/
So don't worry yeah. Try focusing on other q's. Best of luck. Ace yer exams.
yea i get it as B tooo :O
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yea i get it as B tooo :O
The answer is B. The MS is messed up. =/
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even i got B....its the MS said A.
hey im not as dumb as i taught
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even i got B....its the MS said A.
hey im not as dumb as i taught
Thought*. ::) :P
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I tried solving it too but it's useless. There's a flaw, i am sure. These idiots do mess up sometimes. According to my calculations, the ans is sps to be B. Idk how in the world they got A. =/
So don't worry yeah. Try focusing on other q's. Best of luck. Ace yer exams.
LOL you guys! :D
i was getting D :P
@Miya told me last night how to do it, so let her come and she will do ;)
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well any advices for tomorrow ???
may u guys answer my previous post questions ???
hope who will attened the exam to do good tomorrow isa :)
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well any advices for tomorrow ???
may u guys answer my previous post questions ???
hope who will attened the exam to do good tomorrow isa :)
stay calm and give the paper ;)
Some tips i guess...
AED (Assets Expenses Drawings) - Whenever these values are increased they are Debited and when decrease it is credited... :)
LIC (Liability Income Capital) - Whenever these values are increased they are credited and vice versa :)
Peace out :)
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guys what does the X% mean and when it is used in the following ???
1000000 X% prefernce share of $1 each
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guys what does the X% mean and when it is used in the following ???
1000000 X% prefernce share of $1 each
can u post the link to the question plz , i cant seem to make a head or tail of it with this :O :S
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can u post the link to the question plz , i cant seem to make a head or tail of it with this :O :S
well iexpected that well they askedabt making P&L appropriation account
and they brought at the start of the question the following:
authorised and issued share capital $
50 000 ord. shares of $0.050 each 25 000
100 000 10% prefe. shares of $1 each 100 000
so what should be the pref.share dividend that's all ???? tell me if uneed any info.
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its $10000 ,
its 10% of the total preferace shares
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stay calm and give the paper ;)
Some tips i guess...
AED (Assets Expenses Drawings) - Whenever these values are increased they are Debited and when decrease it is credited... :)
LIC (Liability Income Capital) - Whenever these values are increased they are credited and vice versa :)
Peace out :)
i will try to follow ur tips *sir* ;D
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its $10000 ,
its 10% of the total preferace shares
so if htey also said that :
at the start of year it was paid
$0.05 on each pref.share
At the end the reamainig was paid then what should we include in the pref.share dividend in P&L app.account
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i will try to follow ur tips *sir* ;D
Good Luck Student ;D
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appropriation :
interrim dividents :
preferance share dividend(0.05 x100000) 5000
Final dividend:
preferance 5000
*** in preferance shares we only need to pay the 10% , not anything exceeding that. but anything less is possible if company decides to pay less or not pay @ all , but they shuld mention that in question then ;)
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appropriation :
interrim dividents :
preferance share dividend(0.05 x100000) 5000
Final dividend:
preferance 5000
*** in preferance shares we only need to pay the 10% , not anything exceeding that. but anything less is possible if company decides to pay less or not pay @ all , but they shuld mention that in question then ;)
well whjat i dont get it is that how did u know the remaining pr.share dividend i mean there should be a value fromwhich u subtracted the interim pr . share dividevnd wht is this value plx and how did u get
i know i might be so diturbing in my question as its too detaILED But would really apprecite it if u could help
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ok its like this:
we hav to pay 100000 x 10 /100 i.e 10000 dividents in $ for pref share holders yea?
& we are told that @ start of year 0.05 per share is paid(i.e interim -kind of prepayment )
i.e total payment was 0.05 x 100 000 shares = $ 5000 rite?
so if we need to pay a total of 10000 dividents &
we already paid 5000 out of that
wats the remaining to be paid as final ??
10000 -5000 =5000 yea ?
did u get it ?
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Can anyone please help ???
Specimen 2010 Question 6.c), from where did 57200 come??
Isn't the Capital Employed= Loan + Share Capital & Reserves
Thanks in Advance :)
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ok its like this:
we hav to pay 100000 x 10 /100 i.e 10000 dividents in $ for pref share holders yea?
& we are told that @ start of year 0.05 per share is paid(i.e interim -kind of prepayment )
i.e total payment was 0.05 x 100 000 shares = $ 5000 rite?
so if we need to pay a total of 10000 dividents &
we already paid 5000 out of that
wats the remaining to be paid as final ??
10000 -5000 =5000 yea ?
did u get it ?
yaaaaaaaaaaay Thanks now i got it Thanks very much dear :D
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Can anyone please help ???
Specimen 2010 Question 6.c), from where did 57200 come??
Isn't the Capital Employed= Loan + Share Capital & Reserves
Thanks in Advance :)
well u will find in trialbalance the retained profit 47 200 +issued share capital 10 000= 57200
hope ihelped
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yaaaaaaaaaaay Thanks now i got it Thanks very much dear :D
no prob :D ;)
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Can anyone please help ???
Specimen 2010 Question 6.c), from where did 57200 come??
Isn't the Capital Employed= Loan + Share Capital & Reserves
Thanks in Advance :)
dude i think u didnt read the question properly in thsi
they ask return on OPENING CAPITAL , i.e capital @ 2009 , so yea capital @ 2009 was 10000
& the only reserve was retained profit i.e 47 200 as posted by relina :D
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dude i think u didnt read the question properly in thsi
they ask return on OPENING CAPITAL , i.e capital @ 2009 , so yea capital @ 2009 was 10000
& the only reserve was retained profit i.e 47 200 as posted by relina :D
Ya I Know that it is the opening capital, but my questions is why didn't we add the LOAN???
As I know Capital Empolyed= Loan + Share Capital & Reserves
so what I did was 16000/(42700+10000+5000) ???
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dude i think u didnt read the question properly in thsi
they ask return on OPENING CAPITAL , i.e capital @ 2009 , so yea capital @ 2009 was 10000
& the only reserve was retained profit i.e 47 200 as posted by relina :D
ur student ;D
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Ya I Know that it is the opening capital, but my questions is why didn't we add the LOAN???
As I know Capital Empolyed= Loan + Share Capital & Reserves
so what I did was 16000/(42700+10000+5000) ???
Net assets is Assets - liabilities (according to the latest definition they keep changing it all the time & they expect our definitions in books to change too i think :P thaugh they were bought 2 years b4 :O
its not fixed assets + working capital ( as u might hav thaught )
i think now u got u r ans rite ??
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ur student ;D
Lmao , lol hehe :D,
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Net assets is Assets - liabilities (according to the latest definition they keep changing it all the time & they expect our definitions in books to change too i think :P thaugh they were bought 2 years b4 :O
its not fixed assets + working capital ( as u might hav thaught )
i think now u got u r ans rite ??
Oh....So the Capital Employed is just the Share Capital and Reserves Right??
Thank Youu :)
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yea when u substract all liabilities from asssts wat u r left with is only the Capital + reserves :D
& u r welcome :D
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yea when u substract all liabilities from asssts wat u r left with is only the Capital + reserves :D
& u r welcome :D
But I've just checked the syllabus and found out that it said Capital Employed = Owner's Capital + long term liabilites
So in the limited companies instead of the Owner's Capital it is Capital+Reserves
Check it out
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_y11_sy.pdf
and Can You Please tell from where did you get this New Definition Assets-Liabilites???
Thank Youu Again :)
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http://www.google.com/url?sa=t&source=web&cd=1&ved=0CC8QFjAA&url=http%3A%2F%2Fen.wikipedia.org%2Fwiki%2FNet_assets&ei=raTrTdTMKIfIrQeF0NTeBQ&usg=AFQjCNHYI-JSmZOtJ7t9nmezu1Zr4Ih9EA&sig2=WZSmcZj-ODvUroE__RZpiw (http://www.google.com/url?sa=t&source=web&cd=1&ved=0CC8QFjAA&url=http%3A%2F%2Fen.wikipedia.org%2Fwiki%2FNet_assets&ei=raTrTdTMKIfIrQeF0NTeBQ&usg=AFQjCNHYI-JSmZOtJ7t9nmezu1Zr4Ih9EA&sig2=WZSmcZj-ODvUroE__RZpiw)
from here
its profit b4 interest & tax / net assets rite ??
so they say net assets is assets -liabilities !!
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But I've just checked the syllabus and found out that it said Capital Employed = Owner's Capital + long term liabilites
So in the limited companies instead of the Owner's Capital it is Capital+Reserves
Check it out
http://www.xtremepapers.me/CIE/Cambridge%20IGCSE/0452%20-%20Accounting/0452_y11_sy.pdf
and Can You Please tell from where did you get this New Definition Assets-Liabilites???
Thank Youu Again :)
does it say in the syllabus that capital employed is different in companies ??
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does it say in the syllabus that capital employed is different in companies ??
No It says it is the same for all companies.
Anyway, Thank You So Much :)
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my cousin's doubt
may/june 2006 p3 qns 3 balance sheet?