For question 10, how we want to know whether that error is unpresented cheque or standing order. It is very confusing because i thought cheque paid in is unpresented cheque
Standing order refers to the instruction given to the bank to make regular fixed payments by an account holder. In this case, the standing order is yet to be paid which makes its treatment similar to that of an unpresented cheque. I hope this clears your doubt!
hi miss, i have a question regarding question 15, i remember that the format of SOPL includes trade discount received in 'other income' section, add it after the gross profit is calculated. So why discount received will affect gross profit but comission received won't?? just a little bit confused😢
Trade discount is adjusted in sales and purchases books, so it will influence both the sales as well as cost of sales amount. But cash discount is adjusted in the SOPL after gross profit as other income, so it will not impact gross profit.
I have confusion in Q.15. Isn't trade discount received a part of "Other Income" like commission received and comes after Gross Profit calculation?
For question 10, how we want to know whether that error is unpresented cheque or standing order. It is very confusing because i thought cheque paid in is unpresented cheque
Standing order refers to the instruction given to the bank to make regular fixed payments by an account holder. In this case, the standing order is yet to be paid which makes its treatment similar to that of an unpresented cheque. I hope this clears your doubt!
hi miss, i have a question regarding question 15, i remember that the format of SOPL includes trade discount received in 'other income' section, add it after the gross profit is calculated. So why discount received will affect gross profit but comission received won't?? just a little bit confused😢
Trade discount is adjusted in sales and purchases books, so it will influence both the sales as well as cost of sales amount. But cash discount is adjusted in the SOPL after gross profit as other income, so it will not impact gross profit.
@@studywithprashna oh my god I just mix them up🤣🤣thanks for answering!
Could be do some old paperss tooo???
Like 2018 , 2019 ???? Plsssss
Your such an amazing teacher 😍!!! U explain it veryyy well
Once you get through the recent past papers, the papers for 2018, 2019 will seem a bit easier. I will try and post those papers as well.
in question 4, arent drawings and losses supposed to be in the current account? the capital ac shoulda been $115000
its not a partership ye
But this is for sole trader, so all of those will be recorded within the capital account.
Rona aa rha ha prh prh ka
Same
Same
Same
Where can I contact you, please?
Hii, you can message me on instagram, here's the link: instagram.com/study.w.prashna
Do you teach? I mean, i want to study for my ACCA from you😢
Yes, I do. You can reach out to me on my instagram regarding this. Here's the link: instagram.com/study.w.prashna/