Economics, Accounting & Business: Post your doubts here!

[lxelle]

there was but not valued i guess...

http://onlineexamhelp.com/wp-content/uploads/2012/04/9706_w10_qp_43.pdf Im not too sure about how to work out the net current asset .

 

[azaanahsan]

http://onlineexamhelp.com/wp-content/uploads/2012/04/9706_w10_qp_43.pdf Im not too sure about how to work out the net current asset .

Formula is Current Asset minus Current Liabilities

I am not sure that u r referring to some question or telling me generally

 

[lxelle]

Formula is Current Asset minus Current Liabilities

I am not sure that u r referring to some question or telling me generally

Oh, Im referring to the ques 2b. Sorry, idk why my words didnt come out properly eveerytime.

 

[azaanahsan]

Oh, Im referring to the ques 2b. Sorry, idk why my words didnt come out properly eveerytime.

its v simple...

Make Statement of financial position full format n put things which are available

In the end the balancing figure will be bank

See first u have to find Non-current Asset, u will use Asset turnover ratio which is Sales/fixed assets So

870,000/Fixed Assets = 2

Now 870,000 = Fixed Assets * 2

870,000 / 2 = Fixed Assets (435,000)

Now closing Inventory which is 60,000 (From Part A)

For receivables use Formula Rec./Cr.Sales * 365

x/435,000 * 365 = 45

x = 45/365*435,000 = 53,630

Next is Bank which will be balancing figure as per question so we will leave this

then Creditors same like receivable use formula Payables/Cr. Purchase * 365

x/555,000 * 365 = 40

x= 40/365*555,000 = 60,822

Non current liability Deb. is given in question as 100,000

In equity Ordinary shares and preference shares are given in question.

Retained earning u can see from Part A

So now just put values total equity u will get is 426,233

Debentures 100,000 added back u will get 526,233

Now 526,233 - 435,000 u will get net current assets which is 91233

Now current Asset - current liabilities = Net current Assets

current asset - 60,822 = 91,233

current asset = 91233 + 60,822

current asset = 152055

So 152055 - 53630 (Receivables) - 60,000 (Inventor)

38425 balancing figure is bank

Please note closing inventory is 60,000 written as 13,000 in Marking scheme

Any doubts u can ask !!!

 

[lxelle]

its v simple...

Make Statement of financial position full format n put things which are available

In the end the balancing figure will be bank

See first u have to find Non-current Asset, u will use Asset turnover ratio which is Sales/fixed assets So

870,000/Fixed Assets = 2

Now 870,000 = Fixed Assets * 2

870,000 / 2 = Fixed Assets (435,000)

Now closing Inventory which is 60,000 (From Part A)

For receivables use Formula Rec./Cr.Sales * 365

x/435,000 * 365 = 45

x = 45/365*435,000 = 53,630

Next is Bank which will be balancing figure as per question so we will leave this

then Creditors same like receivable use formula Payables/Cr. Purchase * 365

x/555,000 * 365 = 40

x= 40/365*555,000 = 60,822

Non current liability Deb. is given in question as 100,000

In equity Ordinary shares and preference shares are given in question.

Retained earning u can see from Part A

So now just put values total equity u will get is 426,233

Debentures 100,000 added back u will get 526,233

Now 526,233 - 435,000 u will get net current assets which is 91233

Now current Asset - current liabilities = Net current Assets

current asset - 60,822 = 91,233

current asset = 91233 + 60,822

current asset = 152055

So 152055 - 53630 (Receivables) - 60,000 (Inventor)

38425 balancing figure is bank

Please note closing inventory is 60,000 written as 13,000 in Marking scheme

Any doubts u can ask !!!

THANKSSS!http://onlineexamhelp.com/wp-content/uploads/2012/06/9706_s10_qp_43.pdf Question 2b also. Net Current Assets. How is it 420? Isn't it 380?

 

[Saad Rashid]

Please share the question papers and marking schemes of OCT/NOV 14 for accounting paper 1 and 2 ?

 

[Tushar968]

hi
Can someone please help me with Q3 (a) (iv) and (vii)
link to the paper is http://maxpapers.com/syllabus-materials/accounting-9706/attachment/9706_s09_qp_4/
link to marking scheme http://maxpapers.com/syllabus-materials/accounting-9706/attachment/9706_s09_ms_4/

 

[Tushar968]

hi
Can someone please help me with Q3 (a) (iv) and (vii)
link to the paper is http://maxpapers.com/syllabus-materials/accounting-9706/attachment/9706_s09_qp_4/
link to marking scheme http://maxpapers.com/syllabus-materials/accounting-9706/attachment/9706_s09_ms_4/

 

[azaanahsan]

hi
Can someone please help me with Q3 (a) (iv) and (vii)
link to the paper is http://maxpapers.com/syllabus-materials/accounting-9706/attachment/9706_s09_qp_4/
link to marking scheme http://maxpapers.com/syllabus-materials/accounting-9706/attachment/9706_s09_ms_4/

hi
Can someone please help me with Q3 (a) (iv) and (vii)
link to the paper is http://maxpapers.com/syllabus-materials/accounting-9706/attachment/9706_s09_qp_4/
link to marking scheme http://maxpapers.com/syllabus-materials/accounting-9706/attachment/9706_s09_ms_4/

Iv) Material usage variance:

Formula :

Standard Material - Actual material * standard price

(20,000 * 1.4) - 27,000 * 3.20 =

VII) Labour eff. Variance

Formula :

Standard hours - Actual Hours * Standard Rate

(10/60 * 20,000) - 4000 * 8.40 =

 

[azaanahsan]

Please share the question papers and marking schemes of OCT/NOV 14 for accounting paper 1 and 2 ?

 

[A.K 101]

guys what topics do you think will come in A2 accounts paper 4? any predictions

 

[Mahreen Mustafa]

Where can I get business studies A2 guess paper....plz help

 

[lxelle]

azaanahsan You missed out my ques.

 

[Saad Rashid]

Sorry, I meant AS Accounting October/November 2014 marking schemes?? Does anyone have them ??

 

[azaanahsan]

THANKSSS!http://onlineexamhelp.com/wp-content/uploads/2012/06/9706_s10_qp_43.pdf Question 2b also. Net Current Assets. How is it 420? Isn't it 380?

THANKSSS!http://onlineexamhelp.com/wp-content/uploads/2012/06/9706_s10_qp_43.pdf Question 2b also. Net Current Assets. How is it 420? Isn't it 380?

Sorry

I think it will be 420 (1030- 610 = 420)

y 380?

 

[azaanahsan]

Sorry, I meant AS Accounting October/November 2014 marking schemes?? Does anyone have them ??

 

[azaanahsan]

Where can I get business studies A2 guess paper....plz help

y guess paper , u should prepare every thing.... my suggestion

 

[azaanahsan]

guys what topics do you think will come in A2 accounts paper 4? any predictions

Bro. avoid predictions & try to prepare all topics

 

[Saad Rashid]

THANKS!!

 

[Saad Rashid]

I think you've accidentally provided me IGCSE marking scheme for p23 . Please upload marking scheme 23 for AS Level.