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

Qualification => Subject Doubts => GCE AS & A2 Level => Commerce => Topic started by: RTB on May 31, 2010, 05:03:56 pm

Title: AS accounts doubt plzz help!!!!!!!
Post by: RTB on May 31, 2010, 05:03:56 pm

does any1 no may/june 2005 q16???

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: RTB on May 31, 2010, 05:07:16 pm

plzzz plzz help :(

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: immortal on May 31, 2010, 05:42:52 pm

its mcq rit p1

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: immortal on May 31, 2010, 05:46:27 pm

Its B
2500+4000-500+1000

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: RTB on May 31, 2010, 05:49:25 pm

no itz wrong da answer is C and i dont know how???

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: RTB on May 31, 2010, 05:52:42 pm

plzz explain how did u get da answer :)

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: immortal on May 31, 2010, 09:29:22 pm

It has 2  b "B" & da MCQ cn b sme times wrong..

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: ***exam*** on June 01, 2010, 02:19:01 am

in the marking scheme answer is B   :D

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: musu09 on June 01, 2010, 04:16:05 am

the answer is ''b''

how here it is:

assets:
motor vehice+stock cost price+debtors=2500+4000+1000=7500

liabilities:
bank over draft                                                        = (500)

answer is 7000

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: lastgift on June 01, 2010, 05:17:25 am

A business does not keep proper accounting records.
The following information is available at the start of the year.
1 a motor car valued at $2500
2 stocks which cost $4000 with a sale value of $6000
3 bank overdraft of $500
4 a loan to a friend from the business bank account $1000
What is the Capital account balance at the start of the year?
A $5000 B $7000 C $8000 D $9000

Assets= Capital + Liabilities
Therfore, capital= assets-liabilities
                      = (2500+4000+1000)-(500)
                      =7000

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: RTB on June 01, 2010, 06:00:35 am

thanx alot.

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: musu09 on June 01, 2010, 11:15:42 am

  feel free to bother again.

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: pastyear on June 01, 2010, 01:57:14 pm

I got question too.
O/N 04 paper1 question 26
Pls give explanations and the working.
Thanks

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: RTB on June 01, 2010, 05:14:25 pm

first find the units sold
units sold= opening stock+production-closing stock=5000+15000-2000=18000
sales                                   360000
(-)variable cost(10x18000)      (180000)
contribution                           180000
(-)fixed cost                           (60000)
profit                                     120000

profit as per marginal costing   =    120000
profit as per absorption costing=    (108000)  =12000 higher

hope u understood

   

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: immortal on June 02, 2010, 06:42:22 am

I hve a doubt 2..
M/J 03 P1          Question(9)     da ans in da MS is "B",cn any1 clarify this ???

://www.xtremepapers.net/CIE/index.php?dir=International%20A%20And%20AS%20Level/9706%20-%20Accounts/&file=9706_s03_qp_1.pdf

also da Q10, how come a single entry is correcting da error..

Thanks in advance,

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: immortal on June 02, 2010, 08:15:39 am

Plz explain, Q20 frm O/N 2004 P1

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: ***exam*** on June 02, 2010, 08:59:17 am

acid ratio = ca-stock
                   cl

so here an increase in the creditors is the only way the  denominator decreases that leads to a decrease in ratio

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: immortal on June 02, 2010, 09:05:17 am

Quote from: ***exam*** on June 02, 2010, 08:59:17 am

acid ratio = ca-stock
                   cl

so here an increase in the creditors is the only way the  denominator decreases that leads to a decrease in ratio

Thanks

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: RTB on June 02, 2010, 09:26:39 am

balance as per bank statement        (10136)
(-)unpresented cheque                   (4998)
(+)uncredited cheque                     5896
balance as per cash book                 (9238)

therefore answer is B $9238 overdrawn

hope itz clear

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: immortal on June 02, 2010, 12:27:36 pm

Quote from: RTB on June 02, 2010, 09:26:39 am

balance as per bank statement        (10136)
(-)unpresented cheque                   (4998)
(+)uncredited cheque                     5896
balance as per cash book                 (9238)

therefore answer is B $9238 overdrawn

hope itz clear

Yes,Thanks
but wat abt bank interest charged ???

Title: Re: AS accounts doubt plzz help!!!!!!!
Post by: pastyear on June 02, 2010, 12:34:23 pm

interest charged already in the bank statement so no need to do adjustment as you begin with bank statement
Hope u understand   ;D ;D ;D ;D