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AQA A2 Accounting Jan 13 ACCN3

Hi,
Does anyone know how to calculate the purchase of a non current asset on question 6 of the jan 13 paper? The mark scheme is saying the revaluation figure to be included is 17.500 however I am getting 15,100. Any help would be greatly appreciated!
Cheers,
Original post by BAF227
Hi,
Does anyone know how to calculate the purchase of a non current asset on question 6 of the jan 13 paper? The mark scheme is saying the revaluation figure to be included is 17.500 however I am getting 15,100. Any help would be greatly appreciated!
Cheers,


If you look in the Equity section of the balance sheet, there is a Revaluation reserve. This has increased by £17,500 (42500 - 25000). The difference is then used to calculate your purchase of NCA.

Hope that helps!

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Can someone explain this difference between mark up and margin and how they are caluclated
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BAF227
OP
Original post by AzadRiaz96
If you look in the Equity section of the balance sheet, there is a Revaluation reserve. This has increased by £17,500 (42500 - 25000). The difference is then used to calculate your purchase of NCA.

Hope that helps!

Posted from TSR Mobile


Oh right I see, thanks very much for your help!
Reply 4
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BAF227
OP
Original post by Maniisha24
Can someone explain this difference between mark up and margin and how they are caluclated


Mark up is a % of cost = profit, where as margin is a % of sales = profit.
For mark up cost would equal 100% and sales would be the stated mark up added to the cost. For margin sales would equal 100% and cost would be the sales% less the profit margin%.

I hope this helps you out!
Original post by BAF227
Mark up is a % of cost = profit, where as margin is a % of sales = profit.
For mark up cost would equal 100% and sales would be the stated mark up added to the cost. For margin sales would equal 100% and cost would be the sales% less the profit margin%.

I hope this helps you out!


Thank You, helps a lot , that was the only thing that was getting me confused in ACCN3

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