Economics, Accounting & Business: Post your doubts here!

[Esme]

Accounts P2. 2009. V1.
http://www.xtremepapers.com/CIE/International A And AS Level/9706 - Accounts/9706_s09_qp_2.pdf
In question 1 a. How do we find the Sales and Purchases?

To find sales:
you have the opening debtors balance and the closing balance as well. The receipt from debtors is also given. Therefore, sales= Closing debtors balance + Receipt from debtors - Opening balance of debtors
Now for purchases :
you hav been given the opening and closing balance of creditors, the payments to creditors and the discount received from ceditors.
Therefore, purchases = Closing creditors balance + Payments to creditors + discount received - Opening balance of creditors.
Sales = 8410303 + 60870 - 66340
Purchases =605190 + 19000 + 71200 - 64300

 

[Muhammad Bin Anis]

can anyone please post the link of notes for accounts?

specially, any good link for accounting concepts

 

[Zephyro]

Thanks a lot. Here's another question from the same paper:

Who is most likely to practice price discrimination?
A. a baker
B. a cinema
C. a hairdressing salon
D. a restaurant

The answer is A. Could anyone explain it? Thank you very much.

Not much economic theory behind the question. More of a logical thinking type of question. You could compare the different degrees of price discrimination. Typically all of the above have the option of adopting a price discrimination strategy but how likely they will is what the question is asking. From all the above its typically easier for a baker to do it compared to the others mostly because a majority of the products sold by him are cheap anyway. A wide range of consumers would not mind paying more depending on how busy the bakery is etc. Same can be said for a restaurant and hairdressing salon but is far less likely as they are unlikely to change prices for different consumers.

 

[zainab856]

as level economics
http://www.xtremepapers.com/papers/...d AS Level/Economics (9708)/9708_s09_qp_1.pdf.. i am not able to solve 24th, 25th and 29th.. i am nt rilly getting the actual reason for the answer given in ms.. help me out

 

[Esme]

for q24:
as the price change for P is +8 the index for product P will be 108(100+8). the weighted index shall be index x weight i.e. (10 x 108) this gives you 1080.similarly for all the products you will find the index and the weighted index.for Q index is 106 n weighted index is 1590. for R index is 104 n weighted index is 2600. for S index is 91(100-9) n weighted index is 4550. now the index is sum ofweighted index/sum of weights. this wil ghive you 9820/100 which is 98.2. the rate of inflation is found by subtracting the base year index (100) from the current year index. this gives (100-98.2) which is -1.8%

 

[Esme]

you do not hav to do any calculations for q 25. because there is inflation even if if the rate is lower means dat price level is rising.
price level will be falling only if we hav a negative rate. as long as the rate of inflation is positive it meams that price levels are rising.

 

[Esme]

for q29 you hav to first find the price of the product in dollars . as the exchange is given we can find out this. it will be 100/5=$20. now we knw the price in dollars. the exchange rate has changed so $20 will now be equal to 80 EGP (20 x 4).

 

[zainab856]

you do not hav to do any calculations for q 25. because there is inflation even if if the rate is lower means dat price level is rising.
price level will be falling only if we hav a negative rate. as long as the rate of inflation is positive it meams that price levels are rising.

for q29 you hav to first find the price of the product in dollars . as the exchange is given we can find out this. it will be 100/5=$20. now we knw the price in dollars. the exchange rate has changed so $20 will now be equal to 80 EGP (20 x 4).

THANX A LOT..

 

[salmankhan00]

Hi everyone, assalamoalaikum!!

To get things organized in a better way, I am making this thread. As othewise, some queries remain unanswered!

So post your AS/A2 Accounts, Business or Economics doubts in this thread. InshaAllah other people here will be there to help you around.

NOTE: If any doubts in the pastpapers, please post the link!

Thanks!
Jazak Allah Khair!

Hello. Any guess paper of Urdu, Accounts, business or economics. If yes plz share !
Thanks in advance

 

[salmankhan00]

Hello. Any guess paper of Urdu, Accounts, business or economics. If yes plz share !
Thanks in advance

 

[Esme]

guess paper ??

 

[hammadthepcgeek]

im guessing this is A Level portion cuz i havent done Investment Appraisal in AS .

Yes it is A Level content.

 

[zainab856]

http://www.xtremepapers.com/papers/... AS Level/Economics (9708)/9708_s10_qp_11.pdf as level econ. question 9th...

 

[ferrycru]

HEEEEELLLPPPPPPP!!!!!
I got my Mock results and the accounting part of em ain't pleasing at all. In paper 1 multiple choice 9706/12 May/June 2011...Can someone help me understand qns11, 13, 15 and 18. A.S.A.P.

 

[Esme]

HEEEEELLLPPPPPPP!!!!!
I got my Mock results and the accounting part of em ain't pleasing at all. In paper 1 multiple choice 9706/12 May/June 2011...Can someone help me understand qns11, 13, 15 and 18. A.S.A.P.

Q11: Opening net book value + purchases during the year - disposal of asset - closing net book value = Depreciation charge for the year. 225000+110000 - 20000 - 240000 = 75000

Q13: make a balance sheet. insert the figures given and leave empty space for the current assets. Then use the accounting equation assets -liabilities= owner's equity to find your current assets.

Q15 Opening stock of raw materials + purchases of raw materials - Closing stock of raw materials + direct wages= Prime cost. 27800+85200-24500+162800= 251300.

 

[Esme]

HEEEEELLLPPPPPPP!!!!!
I got my Mock results and the accounting part of em ain't pleasing at all. In paper 1 multiple choice 9706/12 May/June 2011...Can someone help me understand qns11, 13, 15 and 18. A.S.A.P.

Q18: first find the average stock which will be (opening+closing)/2. (10000+14000)/2= 12000. Now use the trnover ratio to find cost of goods sold as the turnonver ratio is cost of oods sold divided by average stock. We get cost of goods sold as 10 x 12000 = 120000. Now we have the revenue so simply deduct he cost of sales from the revenue to get the gross profit. 160000-120000=40000

 

[ferrycru]

Q18: first find the average stock which will be (opening+closing)/2. (10000+14000)/2= 12000. Now use the trnover ratio to find cost of goods sold as the turnonver ratio is cost of oods sold divided by average stock. We get cost of goods sold as 10 x 12000 = 120000. Now we have the revenue so simply deduct he cost of sales from the revenue to get the gross profit. 160000-120000=40000

Thank ya loads hey!!!I got them all right now...... Xx

 

[ferrycru]

Anyone doing travel and tourism?????

 

[student92]

as salam alikum
http://www.xtremepapers.com/CIE/International A And AS Level/9708 - Economics/9708_s11_qp_11.pdf
as economics p1
q 19 21 27 30
http://www.xtremepapers.com/papers/CIE/Cambridge International A and AS Level/Economics (9708)/9708_s11_er.pdf
marking scheme
thankyou

 

[student92]

Which is a normative economic statement?
A Money is the least liquid form of wealth.
B Some firms are subsidised by the government.
C Some workers earn more than others.
D Taxes are the best way to discourage smoking.
why isint a also a normative statment
correct answer is d