Author Topic: ACCOUNTING PAPER 1 (Read 4881 times)

coco pops · « **on:** June 03, 2010, 11:52:41 am »

could any one please help me in question no.19 in may june 09

immortal · « **Reply #1 on:** June 03, 2010, 12:56:57 pm »

As net profit % of sales =20%
expense b4 dividend % of sales =20%
so exps=800+400-200=1000
1000/sales=80%
sales=1250
so ans=B

coco pops · « **Reply #2 on:** June 03, 2010, 02:21:41 pm »

why is it 80%? (is expenses/sales % + netprofit/sales % =100%)??
sry 2 bother

immortal · « **Reply #3 on:** June 03, 2010, 02:35:32 pm »

No problem..
NP/sales=20%
so (NP-sales)/sales=80%
dat is expense/sales=80%
80+20=100%

coco pops · « **Reply #4 on:** June 03, 2010, 04:09:15 pm »

o ok thank you
also cld u help me in oct nov 09 varian 1
question 11,23,30
ques no. 16 and 18...these two questions are in variant 2 as well..but they have given diff answers in tht =S
and may june 09 question 16 and 20
thank you once agn

exam · « **Reply #5 on:** June 03, 2010, 05:50:43 pm »

Pap1 june09
Q9
Q16
Q19
Q25
Q29
Q30

plz help

@coco pops may june 09
n q 20: see the share holder has the shares whether he sells them in loss or profit the business wont be affected its only the shareholder whoz going 2 be affected so the ans is D

Siddarney · « **Reply #6 on:** June 03, 2010, 06:03:50 pm »

Have you got a copy of the paper I'll go through it and post answers... Got full marks on my Unit 1 exam!

exam · « **Reply #7 on:** June 03, 2010, 06:08:25 pm »

yeah
here it is

exam · « **Reply #8 on:** June 03, 2010, 06:09:06 pm »

and here the marking scheme

coco pops · « **Reply #9 on:** June 03, 2010, 06:11:49 pm »

@exam
Q9) 63000-36000=27000
purchse ledgr control acc gives creditors..so credit side n tht was understated by 27000
so u add 27000 on credit side n hence answer is D

q)19 is already posted on the thread

q25) 9600/240000 = 0.04 > this is amt fr each share
then (0.04/3.20)*100 = 1.25 > so option A

q29) (F.C/contribtuion per sellin price) = 100,000/0.4
wich gives 250,000 then 250,000/25 =10,000 units

q30) overhead recovered 116000*2.2=255200
261000-252200=5800

as actual(261000) is more than budgeted (252200)
answer is B >.5800 underabsorbed

Siddarney · « **Reply #10 on:** June 03, 2010, 06:15:45 pm »

Q9 is D because you need to add the difference into the purchase ledger and minus it from the suspense as this is only a temporary account, therefore needs to be corrected

Siddarney · « **Reply #11 on:** June 03, 2010, 06:17:08 pm »

Oh there ya go Coco answered it for ya

exam · « **Reply #12 on:** June 03, 2010, 06:20:22 pm »

oh thnxxxxxxxxxxxxxxxxx a loooooooottttt for the explanation !!!!!

immortal · « **Reply #13 on:** June 03, 2010, 06:25:32 pm »

Quote from: coco pops on June 03, 2010, 04:09:15 pm

o ok thank you
also cld u help me in oct nov 09 varian 1
question 11,23,30
ques no. 16 and 18...these two questions are in variant 2 as well..but they have given diff answers in tht =S
and may june 09 question 16 and 20
thank you once agn

Q11>CL unrealized profit
   3000*20/120
   =500

Q23> Divid yield=divid per share*nominal value(1)/market value*100
   4%=0.16*1/X*100
   1/X=0.25
   X=4

immortal · « **Reply #14 on:** June 03, 2010, 06:32:39 pm »

Q30>As u kno absorption costing only affects Cl & op stock..
OAR=(120300-100800)/(28200-25200)
=6.5

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