#41
|
|||
|
|||
Quote:
|
#42
|
|||
|
|||
advertising 4500
Mark up+ outstanding 2030 Taxes+ outstanding taxes - Prepaid insurance 12700 General exp. 7820 Salaries+ outstanding 36000 Provision for debtors 3950 Depreciation 16890 Net profit 15010 |
#43
|
|||
|
|||
Q5 2004
Gp 33,792 Np 21,352 Bs 140,144 |
#44
|
|||
|
|||
Kinza, ammara and ahmad in 2004 q5 the bad debt of 613 will be deducted in net profit or not
|
#45
|
|||
|
|||
Quote:
You can see post#58 of this thread for solution of this question. |
#46
|
|||
|
|||
Provision for depreciation is confusing me in this question. I am not sure about my solution. I recorded Assets at their cost value in balance sheet and provision for assets recorded in liabilities side with addition of current year's provision.
G.P. 144940 N.p. 34624 Balance sheet 221020 whats are your figures? |
#47
|
|||
|
|||
New provision should be 2320 because question asks to increase provision by 1000
|
#48
|
|||
|
|||
I am unable to solve the following questions from Profit and loss accounts, if anyone can, come forward please.
Q. 5 Paper, 2002 Q.5 Paper, 2003 Q.6 Paper, 2010 |
#49
|
|||
|
|||
This is the solution I could solve. You people are requested to pinpoint mistakes, because neither my p/l accounts is correct nor Balance sheet.
Q. 5 Paper, 2002 Trading and p/l account (Dr.) Opening Stock........Nil Purchases..................nil Less Returns.............nil Wages Rs. 1000 Add Accrued wages Rs. 150 1150 Gross Profit......... Rs. 13250 Advertisement Expense...100 Supplies Expense ..........1700 Rent and other Expense(5500+500)..............6000 Depreciation...................................... ....1200 Net Profit............................................ 4650 Trading and p/l account (Cr.) Sales(Service fee)..........14000 Closing Stock............nil Service Fee Earned......... 400 Balance Sheet Assets Cash Rs. 200 Service Fee Receivable 400 Accounts R/A 1500 Prepaid Advertisement 400 Less expired 100 300 Supplies 1300 Equipment 9600 Less Depreciation 1200 8400 Total 11700 Liabilities Accounts Payable 800 Rent Payable 500 Capital 10000 Add N.I 4650 Less Drawing 3600 11050 Total Capital and Liabilities 12350 |
#50
|
|||
|
|||
Quote:
old provision- Bad debts= Excess old provision (1320 -613= 707) Excess old provision + Provision increase by = new provision (707+1000+1707) Quote:
|
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
CSS 2011 - Your Experience and tips? | sajidnuml | CSS 2011 Exam | 61 | Friday, September 16, 2011 06:16 PM |
Accounting past paper | aq292 | Subject Selection | 1 | Sunday, April 18, 2010 02:33 PM |
Accounting concepts | Princess Royal | Accounting & Auditing | 1 | Thursday, December 17, 2009 12:23 PM |
The Types Of Accounting | pakfame | Accounting & Auditing | 0 | Saturday, February 23, 2008 03:41 PM |