2017BAFS試前討論區

我修management 學校個miss啲accounting都唔多掂有時要學生教返轉頭 我而家垂死掙扎緊求acct唔好失咁多分 想問有咩係特別要溫

Try this if you have time:

On 1 August 20X1, Seller Co. sent goods of $10,000 (invoice price) to Buyer Co on sale-or-return basis. On 31 December, Buyer co. accepts 60% of the goods. Remaining goods (40%) will be returned to Seller Co. on 15 January 20X2.

All goods of Seller Co. are sold at a mark-up of 40%.

Seller Co. and Buyer Co. made no entries regarding all the above transactions. Closing inventory values in the books of Seller Co. and Buyer Co. are based on physical inventory account.

For both Buyer Co. and Seller Co., nominal accounts have not yet been closed.

REQUIRED:
For the year ended 31 December 20X1,
(a) Prepare the journal entries in the books of Seller Co.
(b) Prepare the journal entries in the books of Buyer Co.

Same information as above, ignore part (a) and (b).
Assume that Buyer Co. recorded the following on 1 August 20X1:
Dr. Purchases $10,000
Cr. Trade Payable $10,000

REQUIRED:
For the year ended 31 December 20X1,
(c) Prepare the necessary journal entries to correct the above.

原來係supplier 黎

一直冇諗過sales or returns basis 可以係purchase
睇到received from Royce limited就以為佢係customers

Sample paper 個case係唔常見但唔代表唔出得，考試小心

我修management 學校個miss啲accounting都唔多掂有時要學生教返轉頭 我而家垂死掙扎緊求acct唔好失咁多分 想問有咩係特別要溫

做曬Sample paper -2016 Core 既accounting MC，有咩唔明盡快上黎問

好難答你有咩特別要溫，MC你做落就知有好多係你溫左書背熟都未必識既野；你唔識點樣嘗試答條MC好可能係因為你唔知用咩方法入手，而唔係你冇溫過個topic

Try this if you have time:

On 1 August 20X1, Seller Co. sent goods of $10,000 (invoice price) to Buyer Co on sale-or-return basis. On 31 December, Buyer co. accepts 60% of the goods. Remaining goods (40%) will be returned to Seller Co. on 15 January 20X2.

All goods of Seller Co. are sold at a mark-up of 40%.

Seller Co. and Buyer Co. made no entries regarding all the above transactions. Closing inventory values in the books of Seller Co. and Buyer Co. are based on physical inventory account.

For both Buyer Co. and Seller Co., nominal accounts have not yet been closed.

REQUIRED:
For the year ended 31 December 20X1,
(a) Prepare the journal entries in the books of Seller Co.
(b) Prepare the journal entries in the books of Buyer Co.

Same information as above, ignore part (a) and (b).
Assume that Buyer Co. recorded the following on 1 August 20X1:
Dr. Purchases $10,000
Cr. Trade Payable $10,000

REQUIRED:
For the year ended 31 December 20X1,
(c) Prepare the necessary journal entries to correct the above.

(a) Dr Buyer Co 8400
Cr Sales 8400

Dr Inventory 4000
Cr Cost of goods sold 4000

(b) Dr purchase 8400
Cr Seller Co 8400

Dr Cost of goods sold 5600
Cr Inventory 5600

(c) Dr Seller Co 1600
Cr purchase 1600


咁樣?

(a) Dr Buyer Co 8400
Cr Sales 8400

Dr Inventory 4000
Cr Cost of goods sold 4000

(b) Dr purchase 8400
Cr Seller Co 8400

Dr Cost of goods sold 5600
Cr Inventory 5600

(c) Dr Seller Co 1600
Cr purchase 1600


咁樣?

(a), (b) : Dr / Cr Account就岩喇，數字呢？諗諗個mark-up點用，$10,000 係 Invoice price or cost?

(c) ：諗下Purchase Co. Inventory 個數岩唔岩？

(a), (b) : Dr / Cr Account就岩喇，數字呢？諗諗個mark-up點用，$10,000 係 Invoice price or cost?

(c) ：諗下Purchase Co. Inventory 個數岩唔岩？

因為個數好柒, 以為$10000係cost 先岩

(a)

Dr Buyer Co 6000
Cr Sales 6000

Dr Inventory 2857
Cr Cost of goods sold 2857

(b)

Dr purchase 6000
Cr Seller Co 6000

Dr Cost of goods sold 4000
Cr Inventory 4000

(c)

Dr Seller Co 4000
Cr purchase 4000

(a), (b) : Dr / Cr Account就岩喇，數字呢？諗諗個mark-up點用，$10,000 係 Invoice price or cost?

(c) ：諗下Purchase Co. Inventory 個數岩唔岩？

因為個數好柒, 以為$10000係cost 先岩

(a)

Dr Buyer Co 6000
Cr Sales 6000

Dr Inventory 2857
Cr Cost of goods sold 2857

(b)

Dr purchase 6000
Cr Seller Co 6000

Dr Cost of goods sold 4000
Cr Inventory 4000

(c)

Dr Seller Co 4000
Cr purchase 4000

Part (c) 要補埋
Dr Cost of goods sold 4000
Cr Inventory 4000

點解？題目話Inventory value based on physical count. Buyer Co. 除左做錯左purchase條entry（個數太大）之外，佢入貨倉點貨會點倒呢批Sales-or-return basis 買翻黎既貨物，Cost = $10,000.
當中40%雖然喺 Buyer Co. 貨倉入面，但其實不屬於Buyer Co. 既貨，所以你要做：
Dr Cost of goods sold 4000
Cr Inventory 4000

Part (c) 要補埋
Dr Cost of goods sold 4000
Cr Inventory 4000

點解？題目話Inventory value based on physical count. Buyer Co. 除左做錯左purchase條entry（個數太大）之外，佢入貨倉點貨會點倒呢批Sales-or-return basis 買翻黎既貨物，Cost = $10,000.
當中40%雖然喺 Buyer Co. 貨倉入面，但其實不屬於Buyer Co. 既貨，所以你要做：
Dr Cost of goods sold 4000
Cr Inventory 4000

巴打好有心

如果大家冇乜野做，可以試下09AL P1 Q2個題partnership，岩岩做左，唔難，但好考小心同耐心

想問下costing既decision making
1) 如果同時有disposal value of old asset 同trade in value of old asset
咁係new asset一欄係先入trade value value
如果冇trade in value先入disposable value
因為trade in value係交易價格
如果冇trade in先dispose個asset
咁諗對嗎？

2）如果有special order
一定要入increase/decrease 既cost
唔可以連非special order既單去update total cost
因為costing只test on incremental cost
咁諗對？

3）why capital ac and drawings are nominal account? Won't they be transferred to next year like asset and liabilities?

Thanks

想問下costing既decision making
1) 如果同時有disposal value of old asset 同trade in value of old asset
咁係new asset一欄係先入trade value value
如果冇trade in value先入disposable value
因為trade in value係交易價格
如果冇trade in先dispose個asset
咁諗對嗎？

2）如果有special order
一定要入increase/decrease 既cost
唔可以連非special order既單去update total cost
因為costing只test on incremental cost
咁諗對？

3）why capital ac and drawings are nominal account? Won't they be transferred to next year like asset and liabilities?

Thanks

1. 其實睇題目情況而定；
如果你賣部舊iPhone比收買佬賣倒 $1,500 (disposal value)，拎去Apple Store trade-in 新 iPhone 佢就當你部iPhone價值$1,000 (trade-in value)，你會點處理部iPhone?

你諗下：如果舊Asset 既disposal value 係$15,000，拎去Trade-in 就價值 $10,000，你會Trade-in定係直接賣走舊Asset?

2. 接收Special order 會唔會影響你本身已有既order？ 如果唔影響，姐係舊有order既Revenue / cost 唔會因為呢個special order而改變；所以舊有order喺呢個決策上係不相關；不相關既野喺計算上面就無需要考慮。

"因為costing只test on incremental cost": 不完全正確，costing有好多做法；例如：加價會賣少左件數，應唔應該加價？你有最少兩個分析方法：
1. 整2份 Income statement 比較加價前後既Net income 去決定加唔加價
2. 只考慮加價會令Contribution margin 點樣改變、數量會點樣改變，由此計Total contribution margin 升跌去答應否加價

3.
Drawings account 會Close 入Capital → nominal account
Capital account: 有Balance c/f，會帶去Statement of financial position → Real account

Weighted Average Cost Method係咩黎嫁
成個syllabus就係差佢

Reducing method洗唔洗理scrap value?

Reducing method洗唔洗理scrap value?

係

Reducing method洗唔洗理scrap value?

唔使

Reducing method洗唔洗理scrap value?

唔使

其實有冇得解點解唔洗理？

IF GOODWILL is revalued
Goodwill acc was not opened
咁capital分goodwill時cr side)個邊
係用old value or revalue左既價值去分比舊partner?
之前可能問得唔好 而家再問

Reducing method洗唔洗理scrap value?

唔使

其實有冇得解點解唔洗理？

我記得我f4個時研究過
如果你係同一個case入面嘗試用straight line/reducing balance配合減scrap value/唔減scrap value去計dep exp
straight line method唔減scrap value嘅話會overstate dep exp
reducing balance method減scrap value嘅話會dep到2046（過左useful life）都未dep完
theoretical嘅解釋我就真係唔知

IF GOODWILL is revalued
Goodwill acc was not opened
咁capital分goodwill時cr side)個邊
係用old value or revalue左既價值去分比舊partner?
之前可能問得唔好 而家再問

可以做goodwill adjustment 用原本嘅ratio計左goodwill先 之後再用新ratio 計一次 再之後就將每一個人嘅goodwill由新減去舊ratio 正數就放dr 負數就放credit

btw cr係放old value

IF GOODWILL is revalued
Goodwill acc was not opened
咁capital分goodwill時cr side)個邊
係用old value or revalue左既價值去分比舊partner?
之前可能問得唔好 而家再問

可以做goodwill adjustment 用原本嘅ratio計左goodwill先 之後再用新ratio 計一次 再之後就將每一個人嘅goodwill由新減去舊goodwill正數就放dr 負數就放credit

btw cr係放old value

我記得我f4個時研究過
如果你係同一個case入面嘗試用straight line/reducing balance配合減scrap value/唔減scrap value去計dep exp
straight line method唔減scrap value嘅話會overstate dep exp
reducing balance method減scrap value嘅話會dep到2046（過左useful life）都未dep完
theoretical嘅解釋我就真係唔知

咁幾易入腦 thanks

2016 man 5** lm

2016 man 5** lm

Adore

IF GOODWILL is revalued
Goodwill acc was not opened
咁capital分goodwill時cr side)個邊
係用old value or revalue左既價值去分比舊partner?
之前可能問得唔好 而家再問

之前答你唔倒係因為分唔倒你問以下邊樣。

你分清楚你想問咩 Case:

case 1: originally, goodwill account is opened. Goodwill was valued at $10,000
[old value]

after 1 Year, goodwill is revalued to $20,000 [revalued amount]. The partnership decided no goodwill account is to be maintained.

Case 2:
originally, no goodwill account is opened.
On 1 Jan 20X2, Mr. C retires from the partnership.
Goodwill is valued at $20,000 [revalued amount].

留意 case 2 係冇 old value.

我覺得你想問 Case 1, 但 case 1 出現既前提係以前有 keep 住 goodwill account, 所以先有所謂既 old value.

如果一直都唔 keep goodwill account, 每次做完 valuation 個 goodwill account 都會清左佢 (姐係冇 balance c/f), 根本不存在所謂 old value 同 revalued amount.