Manufacturing Account - Leaving Cert

alan4cult

Hi,

I was just doing the Manufacturing Account from the Examcraft Mock. Anybody have the Capital Employed figure?

orangetictac

Dont suppose you know if that's the easy pre or the hard one??(did it have a published or a cash flow as a hundred marker?

alan4cult

Cash Flow was a 100 marker.

orangetictac

Sorry dont have that one.
That was an awful paper in my opinion

declan_lgs

one million one hundred and ninety eight thousand one hundred and eighty two

according to how my teacher marked my pre paper. I plan to revise manuf accounts before Tuesday so I'll try and get this Q right methinks. Wrecked the ****ing **** of my exam paper making adjustments though (I'm passed that now thank god).

alan4cult

I have 1,198,150
You have 1,198,182

How can I be €32 off?

declan_lgs

800 * 4% = 32.

800 is the bad debt recovered. 4% the provision for bad debts.

Noow according to a note my teacher gimme on my paper, you don't add the bad debt recovered until provision for bad debts is calculated as you're "sure" of that money.

Makes sense..ish. Why are you sure of a bad debt recovered and not other debtors that you've dealed with? Either way should get the marks imo, but that means nothing to the examiner..

anyone know if both methods get full marks or..?

You're pretty sorted anyhow. Well done.

alan4cult

declan_lgs wrote: »

800 * 4% = 32.

800 is the bad debt recovered. 4% the provision for bad debts.

Noow according to a note my teacher gimme on my paper, you don't add the bad debt recovered until provision for bad debts is calculated as you're "sure" of that money.

Makes sense..ish. Why are you sure of a bad debt recovered and not other debtors that you've dealed with? Either way should get the marks imo, but that means nothing to the examiner..

anyone know if both methods get full marks or..?

You're pretty sorted anyhow. Well done.

Where did you put the bad debts recovered in the profit and loss account? I put it in (€500) operating income. Is that correct?

And whats your new provision for bad debts figure?

Thanks a million.

declan_lgs

alan4cult wrote: »

Where did you put the bad debts recovered in the profit and loss account? I put it in (€500) operating income. Is that correct?

And whats your new provision for bad debts figure?

Thanks a million.

Don't net bad debt and bad debt recovered afaik.
800 bad debt recovered is operating income.
300 bad debt is financial expense.
New provision is 1658 => 456 increase in provision is another financial expense.

alan4cult

Thanks for your help!

declan_lgs

you're welcome!

Steveo12345youg

the question is grand its diificult to remember the layout me thinks!!!!!!!

declan_lgs

Steveo12345youg wrote: »

the question is grand its diificult to remember the layout me thinks!!!!!!!

Ye but it's PRIME so get it into the head!! lol

Steveo12345youg

declan_lgs wrote: »

Ye but it's PRIME so get it into the head!! lol

PRIME could u explain wat u mean?

titan18

Was that the one with depreciation as net book value as a 60 marker.I did both pre papers,I avoid manufacturing A/C.Too hard and I think Company will come up