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

Qualification => Subject Doubts => GCE AS & A2 Level => Commerce => Topic started by: 890er on June 10, 2010, 01:13:43 pm

Title: How did Accounting paper 3went?
Post by: 890er on June 10, 2010, 01:13:43 pm

Guys how was ur Accounting p3.I think it was difficult and technical

Title: Re: How did Accounting paper 3went?
Post by: pastyear on June 10, 2010, 01:16:39 pm

ya some
but plz do not discuss within this 24 hrs.

Title: Re: How did Accounting paper 3went?
Post by: bilal920 on June 10, 2010, 02:20:25 pm

it was good

but do discuss this after 24 hrs not like accouting p4 thread where no1 posted anythin the last time i went

Title: Re: How did Accounting paper 3went?
Post by: immortal on June 11, 2010, 08:11:00 am

Ya,dats true..specially in commerce subjects ver der r few of us...dont feel like discussing after a day...
Cie shud change this 24hrs rule because da papers r finished long b4 dat..
Anywayz my p32 waz gud,Alhamdulillah :)

Title: Re: How did Accounting paper 3went?
Post by: bilal920 on June 11, 2010, 12:03:09 pm

Ok i have a question thts killin me.... Wat anser did u get in the partnership question the one tht had a new partner coming in and revaluation took place?

Also wat was the anser of how to calculate work in progress?

Title: Re: How did Accounting paper 3went?
Post by: immortal on June 11, 2010, 05:54:32 pm

4 partnership question,i used da profit sharing ratio & shared both revaluation & gudwill between 2 partners,da l\new partner 0(ma frnds said this waz wrong but i think its correct because it waz specifically mentioned dat da amount given waz 4 gudwill, so % of it wont b added back 2 da new partner..)
I dont remimber da Q on WIP,if u give it ill try 2 ans it.

Title: Re: How did Accounting paper 3went?
Post by: ahaseebmirza on June 12, 2010, 07:08:11 am

Quote from: bilal920 on June 11, 2010, 12:03:09 pm

Ok i have a question thts killin me.... Wat anser did u get in the partnership question the one tht had a new partner coming in and revaluation took place?

Also wat was the anser of how to calculate work in progress?

For partership i distributed the realisation and goodwill in old partners ratio and then charged them in the new ratio..it was option D i guess..and for work in progress i did prime cost+overhead absorption at normal production

Title: Re: How did Accounting paper 3went?
Post by: bilal920 on June 12, 2010, 09:02:37 am

So u mean tht in the Pship question u chose the one tht had nil in Z's account??

Title: Re: How did Accounting paper 3went?
Post by: immortal on June 12, 2010, 01:37:03 pm

Quote from: bilal920 on June 12, 2010, 09:02:37 am

So u mean tht in the Pship question u chose the one tht had nil in Z's account??

I got da value wit Nill, but ahaseebmirza re distributed da gudwill wit new ratio which MIGHT b wrong..
Dr new partner  & Cr old partners in goodwill a/c..so it cancels off each other, so no need 2 ues new ratio..this is wat i think.
 

Title: Re: How did Accounting paper 3went?
Post by: ahaseebmirza on June 12, 2010, 03:08:11 pm

I guess i was not able to explain my self i did it this way..
33000 was paid by z for goodwill so total goodwill would be 33000 x 3=99000
add 60,000 revaluation that is 99,000+60,000=159,000/2=79500 for both the old partners...
then subtract 33000 each to give 46500 for both and 0 for Z...:D
Is that what u did immortal??

Title: Re: How did Accounting paper 3went?
Post by: immortal on June 12, 2010, 06:11:24 pm

Quote from: ahaseebmirza on June 12, 2010, 03:08:11 pm

I guess i was not able to explain my self i did it this way..
33000 was paid by z for goodwill so total goodwill would be 33000 x 3=99000
add 60,000 revaluation that is 99,000+60,000=159,000/2=79500 for both the old partners...
then subtract 33000 each to give 46500 for both and 0 for Z...:D
Is that what u did immortal??

Ya, u got it right, but y did u multiply it 33000 by 3,althogh da ans is correct small part of ur working is wrong..

Title: Re: How did Accounting paper 3went?
Post by: bilal920 on June 13, 2010, 06:09:08 am

yea immortal is rite i dint do the multiplication either... but watever in the end wat matters is tht i got it rite  ;D

Title: Re: How did Accounting paper 3went?
Post by: ahaseebmirza on June 13, 2010, 09:41:22 pm

so what was the answer for the work in progress one...??

Title: Re: How did Accounting paper 3went?
Post by: bilal920 on June 14, 2010, 07:50:35 am

i got it as the something adding the actual production

Title: Re: How did Accounting paper 3went?
Post by: pastyear on June 14, 2010, 12:20:29 pm

me too choose the one with actual production.   ;D ;D :D