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Accounting 13th of May 2016 (edexcel igcse)

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Original post by fatoopower
Increase bulk purchase, increase sales, etc

i said something like 'it builds up loyalty' and all, and 'it's given if customers buy in bulk' or something.
Original post by iHeartNovels_<3
Hey guys in thenfrst question you were supposed to deduct trade discount from the sales and sales return right?

No omg :') we were supposed to put it on the credit side as discount allowed.
Original post by Harsh00
I had subtracted 3000 accruals from the net profit of the current year because it said the net profit was before any adjustments...


yeah,i did the same and it balanced.
Original post by fatoopower
240,000/x * 100 = 25%
x was cost of sales which i found as 600 i think. Then added it to GP to get sales. 240,600. I hope its right.


the sales was £1,200,000....bcoz with the formula u have used also the cost of sales is 960,000...so sales was 960,000+240000
Original post by iHeartNovels_<3
Oh god q12 was messed up......am i the only one who messed up tht sales question in the mark up thingy??? Idk why i had to convert mark up to margin to find sales directly and got such a big amnt( i got 1,200,000!!!! -____-)......i hope it's right
Nah my balance sheet balanced i realised later tht i missed proposed dividends and luckily i did the balance sheet with a pencil first
i hope the grade boundaries are low and THEORY QUESTIONS WERE LESS THIS YEAR


your sales is right!
Original post by cc16cp02
No omg :':wink: we were supposed to put it on the credit side as discount allowed.


wait THERE WAS NO CASH DISCOUNT WAT THE HELL ARE YOU SAYING?
Original post by iHeartNovels_<3
wait THERE WAS NO CASH DISCOUNT WAT THE HELL ARE YOU SAYING?


ya true...no cash discount..there is nthng like discount allowed in it.
Original post by iHeartNovels_<3
wait THERE WAS NO CASH DISCOUNT WAT THE HELL ARE YOU SAYING?

I'm talking about the first account we had to prepare after mcqs omg. the one that had a trade discount or something.
Original post by cc16cp02
I'm talking about the first account we had to prepare after mcqs omg. the one that had a trade discount or something.


u only give discount allowed when there is cash discount...lol...not when there is trade discount
Reply 29
Avatar for Apple09
Apple09
Discount received * and wasn't it a control account ?
Reply 30
Avatar for Apple09
Apple09
MCQs went pretty smooth
Q11 I mite have actually done a purchase ledger control account
Q12 destroyed my paper
Q13 went fine
Q14 exhausted me
Q15 mind was dead from solving q12 and 14
Original post by vrajp434
u only give discount allowed when there is cash discount...lol...not when there is trade discount


but u were supposed to deduct the trade discount right from the sales and sales return right?
Reply 32
Avatar for Loukas P.
Loukas P.
OP
5
When can we have a mark scheme to see the correct answers?
Original post by iHeartNovels_<3
but u were supposed to deduct the trade discount right from the sales and sales return right?


yes...from there u deduct...but not in the personal account to whom u sold or purchased goods from.
Reply 34
Avatar for Apple09
Apple09
Original post by vrajp434
yes...from there u deduct...but not in the personal account to whom u sold or purchased goods from.
they asked for a purchase ledger control account ...if I read that q properly that is...if not no wonder my answer had no bal b/f
Original post by Apple09
they asked for a purchase ledger control account ...if I read that q properly that is...if not no wonder my answer had no bal b/f


yaa thats now a different question...the question m tlking about is the one before that.
Original post by Loukas P.
When can we have a mark scheme to see the correct answers?


In the summer break 😂😂😂
Original post by fatoopower
Can someone tell me their purchases figure in the control acc?


increase loyalty
given to businesses in the same trade
increased purchases

what answers did you get tfor that trial balance? i got 217925 for capital (where does closing stock go credit or debit?
Original post by nigganigg
increase loyalty
given to businesses in the same trade
increased purchases

what answers did you get tfor that trial balance? i got 217925 for capital (where does closing stock go credit or debit?


745000 was the total of the TB. And closing stock is an asset. :smile: And your capital value correct. :smile:
Original post by fatoopower
745000 was the total of the TB. And closing stock is an asset. :smile: And your capital value correct. :smile:


also how did you get your roce in that ratios question? will they give a mark for the formula?
(edited 7 years ago)

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