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Revision thread - Accounting (AQA) Unit ACCN2 - 16 January 2012 (pm)

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Reply 40
Avatar for sukhys
sukhys
2
Original post by camlough1
what was adjusted net profit? i got 11 thousand and something


reply to my post above yours, i got 19,XXX for my net profit
depreciation 7000
Reply 41
Avatar for camlough1
camlough1
Original post by sukhys
what did u do for the 1st question. revenue expenditure i did

120,000-20,000=100,000 purchases
training costs included
mainteance and repairs and wages not included
insurance 2400 /12 X 2 months included

wbu


yeh i done the same i think thats right, seemed like alot of marks for nothing really
Reply 42
Avatar for camlough1
camlough1
Original post by sukhys
reply to my post above yours, i got 19,XXX for my net profit
depreciation 7000


yeh i got depreciation, i dunno my head is just wrecked probly did get that too
Reply 43
Avatar for sukhys
sukhys
2
Original post by camlough1
yeh i got depreciation, i dunno my head is just wrecked probly did get that too


what about ur dividend and interest on debenture

dividend 2,700,000 or 270,000 cant remember
interest 1,500,000
Reply 44
Avatar for camlough1
camlough1
Original post by sukhys
what about ur dividend and interest on debenture

dividend 2,700,000 or 270,000 cant remember
interest 1,500,000


yeh debenture interest was 7.5% of 20,000,000
dividend was 3p per share with total shares of 90,000,000 so yeh 2,700,000
did anyone else get 19672 for net profit ??
and did net profit go into the capital account
and what was gearing
Original post by camlough1
yeh i done the same i think thats right, seemed like alot of marks for nothing really

i think that wages should have been included as they are an expense ?
Reply 47
Avatar for camlough1
camlough1
Original post by mattlismore
i think that wages should have been included as they are an expense ?


no because set up fee's are capital, even if they are your own employee's.
Original post by camlough1
no because set up fee's are capital, even if they are your own employee's.


are you sure ?
because they wouldn't have spearerated them if the wages weren't included? and capital has to be an investment but that wasn't was it ??
ps what was you're net profit ?
Reply 49
Avatar for 1993Luke
1993Luke
Original post by mattlismore

Original post by mattlismore
i think that wages should have been included as they are an expense ?


Yes i included wages as revenue expenditure
Reply 50
Avatar for camlough1
camlough1
no i checked the book there are defo both capital
i cant really remember tbh
Original post by camlough1
no i checked the book there are defo both capital
i cant really remember tbh


im kind of annoyed because the book i used didn't cover all of that :/
what about gearing ?
Reply 52
Avatar for camlough1
camlough1
Original post by mattlismore
im kind of annoyed because the book i used didn't cover all of that :/
what about gearing ?


i cant rember what i got for gearing but it was the price of the debenture over the shares and reserves
gearing is debenture
over the rest of the finance i believe ?
Reply 54
Avatar for camlough1
camlough1
Original post by mattlismore
gearing is debenture
over the rest of the finance i believe ?


yep thats right
net profit was 19166, im 100 percent sure
Original post by Captivity of negativity
net profit was 19166, im 100 percent sure


now you say that i think i put that :L
debtor collection period 45
creditor collection period 30?
i went over the p/l few times i know i got it right
I got 57% for gearing ratio. Net profit is around... 19082 I think xD

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