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Help with accounting!!!

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  • 16-06-2008 9:08pm
    #1
    Bryan4president
    Registered Users Posts: 123 ✭✭


    Anyone know how to get the interest for the drawings in incomplete records type b? Thats the one that didn't come up last year.


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    #2
    orangetictac
    Registered Users Posts: 252 ✭✭orangetictac


    well you get the interest payable by ( for eg 5% of 200,000 and if loan was got at end of september 31/09/07 then you get 3/12 of the 10,000 and thats int payable) then drawing is watever % they tell you of that


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    #3
    blue-army
    Registered Users Posts: 1,301 ✭✭✭blue-army


    Could anyone tell me the best way to remember which items go on which side in Suspense Accounts.....We spent about 2 classes doing Suspense, and nobody really understood......... and I always get confused as to what goes on what side.


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    #4
    Petie_Pie
    Closed Accounts Posts: 27 ✭Petie_Pie


    Actually i believe it would be multiplied by 4/12 beause all the repayments are made on the last month..
    Therefore 31/9 30/10 30/11 and 31/12

    just taught i would tell ya... cant be loosin marks:P


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    #5
    Slashman X
    Registered Users Posts: 140 ✭✭Slashman X


    blue-army wrote: »
    Could anyone tell me the best way to remember which items go on which side in Suspense Accounts.....We spent about 2 classes doing Suspense, and nobody really understood......... and I always get confused as to what goes on what side.
    It's just a double entry from your workings


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    #6
    orangetictac
    Registered Users Posts: 252 ✭✭orangetictac


    Petie_Pie wrote: »
    Actually i believe it would be multiplied by 4/12 beause all the repayments are made on the last month..
    Therefore 31/9 30/10 30/11 and 31/12

    just taught i would tell ya... cant be loosin marks:P

    ya oops its should have been loan at start of october(thats how they ask it)


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    #7
    seanie44
    Registered Users Posts: 8 ✭seanie44


    does any1 know what to do with a contingency liability that it is likely in published accounts. what action is taken in the balance sheet


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    #8
    orangetictac
    Registered Users Posts: 252 ✭✭orangetictac


    throw it down after debentures

    add contingency liability

    i think(pretty sure)


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    #9
    seanie44
    Registered Users Posts: 8 ✭seanie44


    cheers


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    #10
    BCawley
    Closed Accounts Posts: 123 ✭✭BCawley


    Could someone tell me how to get the Total Wages and Variable costs in part (c) Production Cost / Manufacturing budget, of a Production Budget? :o


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    #11
    Bryan4president
    Registered Users Posts: 123 ✭✭Bryan4president


    seanie44 wrote: »
    does any1 know what to do with a contingency liability that it is likely in published accounts. what action is taken in the balance sheet

    As far as I know you don't put in the balance sheet. You just have to write a note on it after the balance sheet.


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    #12
    louis626
    Registered Users Posts: 84 ✭✭louis626


    Bryan4president wrote: »
    As far as I know you don't put in the balance sheet. You just have to write a note on it after the balance sheet.

    Yea thats right. :cool:


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    #13
    abcxyz123
    Closed Accounts Posts: 215 ✭✭abcxyz123


    orangetictac wrote: »
    throw it down after debentures

    add contingency liability

    i think(pretty sure)

    THIS IS 100% CORRECT!!

    Throw it into 'Admin' and in the balance sheet


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    #14
    Petie_Pie
    Closed Accounts Posts: 27 ✭Petie_Pie


    BCawley wrote: »
    Could someone tell me how to get the Total Wages and Variable costs in part (c) Production Cost / Manufacturing budget, of a Production Budget? :o

    Em find out the hours work.... eg gold has 7900 units sold... and then 2 hours per unit.. therefore 15,800 multiplied by the cost of labour per hour will give you your variable cost.....

    Does that help??
    Ahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh accountin in an hour:(


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    #15
    BCawley
    Closed Accounts Posts: 123 ✭✭BCawley


    Petie_Pie wrote: »
    Ahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh accountin in an hour:(
    Lol I know, my least favourite subject...:mad:
    But anyway the figures were right in front of me so I copped on eventually, thats what'll happen when you cut into sleepy time do study :D


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