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Accounting question

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  • 01-02-2014 5:13pm
    #1
    onethreefive
    Closed Accounts Posts: 3,799 ✭✭✭


    Hi,

    I'm doing Ordinary level Accounting and really need to get an A1 in it.

    I know how to do most questions but I am stuck on The final accounts of a company (Question 1 2004 OL)

    I am near the end of the Trading and Profit and Loss Account but I need to calculate the figure for less debenture interest.

    Does anyone know how I can calculate this? I know the marking scheme says it is 8,100 but I can't figure out how to get this?

    thanks!


Comments

  • Options
    #2
    T0001
    Registered Users Posts: 695 ✭✭✭T0001


    8% Debentures on 31/03/2006

    100,000 x 0.08 x 9/12(9 over 12) = 6000
    Debenture x Interest% x Months = Total Interest for Year

    The marking says 6000 aswell


  • Options
    #3
    onethreefive
    Closed Accounts Posts: 3,799 ✭✭✭onethreefive


    I am so sorry I wrote the wrong year! :eek:

    It was the same thing in 2004!


  • Options
    #4
    T0001
    Registered Users Posts: 695 ✭✭✭T0001


    120,000 x 0.09 x 9/12 = 8100

    Foe Balance Sheet > 8100 - 5400 = 2700(CL)


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