IGCSE/GCSE/O & A Level/IB/University Student Forum

Qualification => Subject Doubts => GCE AS & A2 Level => Commerce => Topic started by: pastyear on May 13, 2010, 07:07:32 pm

Title: Help Accounting AS Paper1
Post by: pastyear on May 13, 2010, 07:07:32 pm: Can someone help me to solve these Questions.Pls show your workingsor explanations.Thanks

Q1) A business makes a provision for doubtful debts equal to 5 % of its debtors.
At 31 March 2008 the provision for doubtful debts was $850.
At 31 March 2009 the debtors after the provision for doubtful debts were $17 100.
How much is the increase in the provision for doubtful debts for the year ended 31 March 2009?
A $45 B $50 C $850 D $900

Q2)At 31 March the balance sheet of a company included the following.

trade debtors 23 000
provision for doubtful debts 1 200
During April credit sales were $64 000 and cash sales were $256 000. Credit customers paid
$56 840 net of a 2 % cash discount.
What will be the trade debtors at 30 April?
A $27 800 B $28 960 C $29 000 D $30 160

Q3) A company has a share price that gives a dividend yield of 4 %. Earnings per share are $0.32 and
half the earnings are paid out as dividends.
What is the share price?
A $2.00 B $4.00 C $6.00 D $8.00
Title: Re: Help Accounting AS Paper1
Post by: immortal on May 13, 2010, 07:35:07 pm: in 5 min
Title: Re: Help Accounting AS Paper1
Post by: pastyear on May 13, 2010, 07:41:24 pm: Thanks.
:D :D
Title: Re: Help Accounting AS Paper1
Post by: immortal on May 13, 2010, 07:52:23 pm: Q1> B
   (17100/0.95)*0.05
   900-850
Q2>C(not sure)
   56840/0.98=58000(credit customer paid)
   64000-58000=6000(increase in creditors)
   23000+6000=29000

Q3> B
   Divid per share=.32/2=0.16
   16%*(1/x)=4%
   x=4
Title: Re: Help Accounting AS Paper1
Post by: pastyear on May 13, 2010, 08:20:56 pm: ya all correct.
But need more explanations on question 2.
Why debtors paid is 56840/0.98?
At the last step, why the trade creditors at 31 March is not 21800 ( 23000-1200 )?
Title: Who takes Accounting?
Post by: pastyear on May 13, 2010, 08:32:20 pm: Anyone who takes Accounting AS and A2.
I suggest to form a group study to ask questions. Wherenever got a question just post it and members will try to solve it asap . Just our members. Members must contribute some efforts in helping others members.
Be fast to reply members' questions.

I am not selfish. when i see some post about accounting questions it was few ppl reply and very late in reply. Pls help yourself also help others.

If you are intersted just reply here.
Title: Re: Help Accounting AS Paper1
Post by: immortal on May 13, 2010, 08:46:06 pm: Quote from: pastyear on May 13, 2010, 08:20:56 pm
ya all correct.
But need more explanations on question 2.
Why debtors paid is 56840/0.98?
At the last step, why the trade creditors at 31 March is not 21800 ( 23000-1200 )?

56840 after discount of 5%
X*95%=568400
X=58000(inclusive of da 5%)

#Dont deduct, as it haz already being done in da balance sheet, & 23000 is frm da balance sheet.
Title: Re: Help Accounting AS Paper1
Post by: the winner on May 13, 2010, 08:47:05 pm: hey any body want importance for examination for free
Title: Re: Who takes Accounting?
Post by: the winner on May 13, 2010, 08:50:31 pm: yes does any one need importance for accounting examination
Title: Re: Who takes Accounting?
Post by: ***exam*** on May 13, 2010, 10:32:18 pm: check out subject doubts section 4 the thread all acc doubts here
Title: Re: Help Accounting AS Paper1
Post by: ***exam*** on May 13, 2010, 10:33:40 pm: Q2
x - the amount paid by the credit customers
x-2x=56840
100

100x-2x =56840 ( lcm)
100

98x=56840*100
x=5684000/98
= 58000

64000-58000 =6000

6000+23000=29000

thats long but thats how i got it
Title: Re: Help Accounting AS Paper1
Post by: ***exam*** on May 13, 2010, 10:34:53 pm: people check out subject doubts section 4 the thread all acc doubts here
Title: Re: Help Accounting AS Paper1
Post by: pastyear on May 14, 2010, 04:34:19 am: Thanks
;D ;D
Title: Re: Who takes Accounting?
Post by: pastyear on May 14, 2010, 04:42:58 am: ppl i had posted some questions on ***exam*** 's thread---its on subject doubt .
Title: Re: Who takes Accounting?
Post by: Monica on May 14, 2010, 06:46:46 am: Okay...I posted in exam's thread replying to your doubt pastyear.

Now, soon I will be merging all the accounting doubts threads in that thread exam made.
Title: Re: Help Accounting AS Paper1
Post by: ***exam*** on May 14, 2010, 10:42:43 am: :) Thanks people cuz now its easier to keep track with acc doubts