Accounting help ???

[~ Miss Relina ~]

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  

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  

[Tohru Kyo Sohma]

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!

[Tohru Kyo Sohma]

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.

[~ Miss Relina ~]

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

[~ Miss Relina ~]

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

[Tohru Kyo Sohma]

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.

[~ Miss Relina ~]

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

[Tohru Kyo Sohma]

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!

[Crooked]

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.

Hope yuh understood. Do lemme know if yuh've got anymore q's. (:

[~ Miss Relina ~]

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.

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

[~ Miss Relina ~]

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

[Tohru Kyo Sohma]

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!!

[Dasith]

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.

[Tohru Kyo Sohma]

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

[~ Miss Relina ~]

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