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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.
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    (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.
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    (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.
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    (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
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    (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!
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    (Original post by cc16cp02)
    No omg :' 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?
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    (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.
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    (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.
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    (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
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    Discount received * and wasn't it a control account ?
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    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
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    (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?
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    When can we have a mark scheme to see the correct answers?
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    (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.
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    (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
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    (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.
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    (Original post by Loukas P.)
    When can we have a mark scheme to see the correct answers?
    In the summer break 😂😂😂
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    (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?
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    (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. And your capital value correct.
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    (Original post by fatoopower)
    745000 was the total of the TB. And closing stock is an asset. And your capital value correct.
    also how did you get your roce in that ratios question? will they give a mark for the formula?
 
 
 
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