2026 05 07 - PoA May 2026 P2 - Look through (Not working it through, just commenting)

Added: 2026-05-09

[00:00:06]Ladies and gents, good day or kitties.

[00:00:16]How are we doing? Oh, gone. All right.

[00:00:17]All right.

[00:00:19]All right, ladies and gents. So, we got the May 2026 PUA paper 2 that was just finished a little less than an hour ago.

[00:00:29]Uh, we're just taking a quick browse through. You're not doing any working. I just commented. Um, I did something similar on Instagram last year, right?

[00:00:37]Giddens. Hey now. All right. How you doing?

[00:00:41]Time to see the madness. Bob the builder and I work in a room. Right. Worst paper. Mimi. I hear was real good from Kylo. You heard me speaking to that. Yeah, that's always the hope.

[00:00:53]Right. Listen to enough videos. I'll get in your head. Paper was terrible.

[00:00:56]Adrian. Okay, cool.

[00:00:59]Jeremiah saying Jeremiah Chandler Marsh the paper wasn't baff it was easy actually saying so listen so easy well study all for na na ha you and me we have a a gross so I hated them ratios big belly Indian why you didn't study them well again it's luck of the draw but the paper was okay Joseph Williams crying oh gosh pressure this wasn't no kind of pe my students saying It was basically a max paper production budget for number five. Hold on. Let me check up Tik Tok. Right. A wide. Oh, a wide. Oh, like in cricket, right? Talk about the production budget.

[00:01:40]Pun number five. All right. Real good paper was awesome. Eric Rain. So, we know the ratio. Who? I do it. Is that plenty maths, too? All right. Nice paper. See what I'm going to throw you off. Yeah. uh given instructor as Kylo bunch of math which is amazing studying all the formats didn't come I overstudied yep yep that's basically how it will be yeah your school teacher oh yep honestly um teacher never teach me ration really Adrian well that's on my channel there boy anything but a balance sheet misses to you um teacher didn't teach this study to knowledge m up nothing girl okay y'all shelter y thing The cat book roties it was hard lash me what I studied didn't count same thing we did manufacturing yesterday we did partnerships yesterday we touch on the provision for bad debts uh Zarya say easiest was the cashbook all them formats none of them come si right KBBG cashbook was easiest I did way too much studying not any formats come in shelter yep mhm >> all my ratios right text oh Yeah, man. Kylo, no problem.

[00:02:55]Elijah, we don't study for what? No financial statements. Yeah, Jar, that's a crime. That is a crime. Sarah didn't study for any ratios. Well, that harmony. What going on? Ashley, last part with the provision for bad debts.

[00:03:09]No depreciation, nothing. Oh, pressure.

[00:03:11]Yeah, boy. All right, folks. Just so you know, I just taken a brow through the paper. I have not seen it. I've only heard about it. Kel said the whole paper was ratios. Really? All right. They did that paper real dirty. Mim me. Really?

[00:03:25]But that wasn't 100%. Okay, cool. Your paper one. Yeah. Well, I'm not going to say in paper one. We trust if this paper wasn't your cup of tea. All right. Paper was too hard. Was that Jessica Katy? Katy B. Katy B saying just insane.

[00:03:38]Okay. Insane good or insane bad? Is that what it said? It really was. Yep. That car paper. I'm Chris TT boy. All right.

[00:03:48]I'm praying next paper one. Yeah.

[00:03:51]We ate the exam, Shelton.

[00:03:55]All right, cool.

[00:03:57]Then correct paper. Hurry up, please.

[00:03:58]Sir. Oh, Abby. Abby, I'm not doing the paper. Actually, I have to go for my stepson from school in about an hour.

[00:04:05]So, we're just browsing trying not doing no workings, right? Primal, right? Try the best. Yeah. Yeah. One topic in focus was the entire paper being ke. All right, folks. You're going to get my live reactions to this paper. I have not seen it. This is me literally seeing it for the first time, right? And while I'm looking at it, I'm not going to be watching comments. If you make a comment and I answer, not because I don't like it, it's because just trying to make sure we browse through the whole paper and comment on it as we go along. Right?

[00:04:33]So, if you make a comment or you ask something and I don't answer, not because I don't like it. It's because I trying to get, right? Cuz I on a on a time limit here. All right. Five questions, answer all questions, write your answer blah blah blah. Silent non-programmable calculators, right? If you need to rewrite any answer and there's none that's supposed to do so extra lined, right? Okay, cool. Mhm.

[00:04:52]Mhm. Okay.

[00:04:54]See, Yak owns a retail shop which specializes in the sale of goofy toys for kids. During the month of April 2025, the following transaction occurs.

[00:05:02]Okay, hold on. What do I want here? Cash book.

[00:05:05]Uh D. Okay, cool. Um cash on hand was that overdraft. Okay, we saw enough overdrafts recently. Right. Um, right.

[00:05:14]So, me and me are going through it now and now we seen it. Right. So, unexpected in the worst possible way.

[00:05:20]All right. Let me take a look. Um, right. So, overdraft. So, bought 5,500 worth of inventory from Goofy Toys receiving a trade discount of that. So, that that trade discount is not recorded in the books. Now, Seak paid and so we are Seak, right? Paid an initial 500 by check on this transaction. The seller agreed to give Cak 4% discount on the sale if the transaction settle within 30 days otherwise net 60. All right. So you got to find 5% of that and subtract it.

[00:05:49]What's 5%? That's 120th. That's 275. So you your bill is 5 225. All right. You can check my math if anything. All right. Umah, right. Easiest paper all time master 8086. All right. Cool. Right. Um and then you paid that 500. So then they download 4725. So we had to watch out to see if CK paid off for this within the 30 days, right? Um hold on. I should probably tell my students that are live.

[00:06:23]They probably saw it already on the live. Oh, you're on the live.

[00:06:27]Okay. What's your name?

[00:06:29]Shadow.

[00:06:33]Yeah, I live. Yeah.

[00:06:38]live on Tik Tok, Till Tik Tolutions, just browsing, commenting.

[00:06:56]No formats came.

[00:06:59]Yeah, it's all good. Right. Um, when you say formats, you mean, right? Um, sold 160 worth of inventory for cash. Easy debit debit side under cash 160 paid for miscellaneous expenses by check easy thing credit side 75 on the bank miscellaneous CX sold 300 worth of toys the customer paid by check after receiving 3% discount sorry one sec yeah I had to put that on silent where the accounts and accounts right so I have a little issue with this right they're kind of doubling down what they did last is last year or in January with that payment. The discount when they made a payment for cash, right? So, custom me cash discount is when you pay off something, but okay, cool. So, the customer paid by check after receiving.

[00:07:48]All right. So, maybe this was sold before, but it looks like it was sold now. Anyhow, I overthinking. So, take out your discount. Cool. Sold unwanted fixtures by check. So, that's on the debit side on under on bank cuz it's saying check 250, right? Details saying now it it Okay, you can say it's really supposed to say disposal. They're doing more of this. This thing here where you're selling non-current assets, that's called disposal. That's a topic they took off the syllabus in the in the mid to late 2000s before before most of you probably born to be honest, right?

[00:08:15]Almost 20 years ago, but they bringing it right. They bring in little bits and pieces expecting you all to know and I don't find that fair, right? So you could put fixtures in the details, you should probably get the mark, right?

[00:08:26]Settle the outstanding balance to goofy toys in. Right. So right so it was it was it was 47 25%. Um and then you got to find you got to take 4% away from that. Okay. 4% is 125th. Yeah, you could do that as 177 and then 1 171 I think. Anyhow, page of class wages by cash, 1500 on the credit side. Under cash, I put 1500 wages details. Balance the cashbook and show the opening balances of these following.

[00:08:55]All right, cool. Um Zary Ziri Zary like to pretend that February part but the question never came pretend. So um if everybody do good that curve won't be real high um people um TT PS Kenchin right so here what the examining body has apparently said that they don't grade on a curve but if they don't grade on a curve we're not entirely sure how they do it maybe they have great bands but they also don't really see great bands they don't say anything about how they grade so what we supposed to do guess right that that is their that is their level of transparency Right. Okay. Um, tell sorry for the smartest girl in my accounts class. She she never taught us some of these things. Never miss a note from class. Okay. That's that's unfortunate.

[00:09:45]Who would you cover? Oh, yeah. I don't know. Christopher paper formats. Yeah, I I go and cry. Hey, all focus on what I had. All just do what you had to do, right? I know it difficult to not try to focus on this, but yeah. Anyhow, that has cash book. How many marks was that? 15. 15 marks.

[00:10:09]2 3 4 5 6 7 8 plus balancing off for two marks a transaction. All right. All right. Okay.

[00:10:16]Cool.

[00:10:18]Um, state the meaning of the balance brought down at the end of each at the end of the month in each of the following accounts. Well, I'm assuming there was a balance in cash. That means how much cash you have left at the end.

[00:10:27]I'm assuming it was an overdraft. That's the overdraft. Right? If it was a positive bank balance, it means a positive bank balance, right? Sorry, you grinned. All right, you feel you fail.

[00:10:36]Well, don't worry. It's not in paper one, we trust. If you had a good SBA, paper one could save you, right? Um, as at April 30th, CAC calculated that the business had a current ratio of 1:3.

[00:10:48]Okay. State the formula. Okay. So, current ratio is current assets divide by current liabilities. Easy. um state the meaning of the current ratio 1:3 and one likely effect that this could have on the business. This ask we this asks things in a weird way or maybe I just don't understand what they want based on how they ask right. So first of all, the meaning of a 1:3 current ratio is simply $1 of current assets exist to pay off every $3 of current liabilities. Or if you express it in the correct way, which is 33 to1, right? It means 33 cents of current assets exist to pay off every $1 of current liability. So you are not liquid. You do not have enough current assets to pay off your current liabilities, right? So steady meaning.

[00:11:30]So that's what it means. One likely effect this could have. So, if you can't pay off your current liabilities, you might receive less favorable credit terms from your trade suppliers going forward. Right? If you can't pay off like your creditors, your trade payables, they might not offer you good terms as in credit terms going forward or to be able to buy on credit at all.

[00:11:49]Right? Cool. You don't stick. So, here Yeah. Yeah. I just I had a little hour here, so I said I'm going to do this quick. Um half mark. Some people do. A the examining does not want us to know what the grades what the percentages. So I can't tell you I don't know but so how you show us well I got it earlier um like when I see earlier like about quarter past 20 right but I was on the road not a single format a room no for nothing that is so not even a manufacturing yeah me I hear you any that is question one right what we have going on here um Raven weed owns a business which he owns and operates under his name on May 13th Who's that? 17 or 20 so far. All right.

[00:12:34]Oh, hey. Soar, how you going? Right. Um, owns a business which he oper Okay. May 13th. Thornbell who owed the business 400 was declared bankrupt and the debt was written off as irreoverable on that date. Uh, prepare the journal entry to write off the amount owed by Thornbell and narrative. Okay. So, you debit bad debts expense and your credit Thornbell or accounts receivable Thornbell or debtors thornbell 400. Okay. No narrative required. Two marks. During the financial year ended April 30th, 2025, so doing American style date.

[00:13:05]Okay. In addition to Thornbell's irreoverable debt, other irreoverable debts totaling 800 were written off. The value of the remaining accounts receivable remaining was 25,000.

[00:13:17]So hold on was 400. Okay, cool. Wade decided to create an allowance for doubtful debts. That's the correct terminology, right? 4% of account. So 4% of this you knock off two zero as $1,000. Using the form provided, prepare an extract of the expenses section of Raven Wade's income statement that reflects all of the transactions in the given scenario. Two months, right? So look, check it. Um, this is what April.

[00:13:43]Okay, cool. So he wrote off Thornbell close to the start of the year cuz if your if your year ends April 30th, it starts on May 1st. So May 13th is not too far after May 1st, right? So you wrote off a 400 here and our next 800.

[00:14:00]So what that means, let me get my little highlighters, right? What that means is that your bad debts expense will be 1,200, right? Your provision for bad debts or sorry the allowance for doubtful debts again that's that that is the more accurate name, right? 4% of this which is a,000. So you put your provision or allowance for doubtful debts a,000 and that's it. I don't know why they give you two columns. It's an extract. They're not supposed to total the items. But if they want to total, fine. 1,200 and 1,000 is 2,200, but I don't think that needs to be done, right? Enrique is terrible here. Why? I would get marks if I mess it back. Um, that's just one mark me or maybe even a half. A half each. Um, if it's the wrong figures, but you you did them correctly, then you should be okay. That cashwork hype. Yep. Travis, right? Exam was good.

[00:14:54]Thank your man Travis. Me and Bali.

[00:14:57]Yeah, big up Mr. Bali. All right. Yeah, most likely guys, you all will see Mr. B probably going through the solutions later. I wanted to do it, but I have something to do and then later I have maths from 4 to half 8. So yeah, my solutions probably won't get in until maybe sometime in June.

[00:15:13]Leave an hour earlier. Yeah, my students, some of my students as well.

[00:15:17]Ratios. Yeah, ratios. Well, any any of of Mr. Chandler's guest Chandler students? Yeah. Yeah. So, yeah, he and I have been talking for a little bit. Cash million day. Yeah. Yeah. Right. So, yeah. So, again, year 1,200 here, year 1,000 there, and 22. Right. Let get rid of that. Get rid of that. Cool. We're going again. Raven Weed presented the following information at the end of the financial year. At the end of the financial year. Okay. Right. Um on April 21st, Raven Pre um was that received a check of 500 in full settlement of the debt owed by Benny Blue who was declared bankrupt. The remainder of the debt was written off.

[00:15:54]All right. Okay. Other bad debts totaling 700 were written off as at 30th April 2026. Total accounts receivables as at 30th April.

[00:16:06]Okay, so look, they have Benny Blue.

[00:16:09]They have Benny Blue here. Wonder does that play on on Bad Bunny or Blue Bunny?

[00:16:13]I don't know. Right. And we received 500 in full settlement, right? Which means you put in your 500 here saying bank 500 and the remainder they said the remainder of the debt was written off as bad. The remainder is 1170, right? 1670 minus 500 is 1170. So that's your bad expense, right? And when they total up both sides, you have 1670 here and here.

[00:16:34]So that's that one. And it's three marks. Yeah, I I okay with that for three marks. That's fine, right? Um other badass totaling 700 were written off as at 30th April. We got a little split in the screen so we could probably maintain the um sorry question on top bar debts. Right. So you would put um Benny blue the 1170 from above and you would put the seven other 700 here.

[00:17:00]Right. Balance rule and complete all of the accounts at the end of the financial year. Okay cool. So what was $1170 + 700 is $1870. So you' balance it off, bring your balance down and then you would close it off by transferring to the income statement, right? So if you put if you had put the income statement here, I think they might accept it. I think usually they do, but the correct thing is to actually balance it off and bring down the balance first because they have to extract your trial balance and then do your closing entry to the income statement.

[00:17:33]Ratio's question. Who's that? Shelton.

[00:17:34]Don't worry, Shelton. We get there. You hit the bad. Yes. It don't come often.

[00:17:38]You know, the ratios were easy. Just had the formula, right, Jacob? Right. You never got taught what ratios uh new formulas, but we did ratios, Jacob. Yeah, this is okay. No worries.

[00:17:52]All right, we're going again. Um allowance. Okay, cool. So total accounts receivables as at April 30th 2026 was 26,000 and Raven way decided to increase ah increase the allowance for doless to 5% of receivable. Okay. So remember in the first part of the question for the year ended April 30th 2025 we had a $1,000 balance that would be here a,000 here right and now we are doing four 5% of this 120th knock off. So, 1300. So, you had a opening balance of a,000 and you wanted to go up to 1300. So, you you have to increase it by 300, right? So, 1,000 plus the 300 would give us 1300.

[00:18:37]So, we're good to go there. That's how many marks? Three marks there. Yeah.

[00:18:40]Okay. All right. It seeming kind of on pass so far, huh? On pass so far.

[00:18:47]Um, next. Complete each complete your wheel by placing ticker box. Ticker box. Why we have ticker box? So you see do better. Stop doing ticker box. Right. Complete the table is check mark in the correct column to indicate how each transaction would affect the net profit of Raven weights business. Okay. An example has been provided for you. An irreoverable debt was written off. Right? So that's an expense. It would decrease profit. So any expenses decrease profit. Any revenues increase profit. Right. Bro, what happened? Debit side. So goodness.

[00:19:20]Um blah blah blah middle and the current get cut off and come away Mel serious.

[00:19:26]Um, we believe in paperw trust.

[00:19:31]You get me there. Ping pom going on.

[00:19:33]You're good. All right. Uh, a payment by a debtor was not recorded has no effect.

[00:19:38]Right. If you didn't record a payment by a debtor, what happened was you didn't record debit to cash or bank and credit to debtor. Neither of which would affect the income statement. Right? Uh, an allowance for doubtful debts was created. Right? That's a decrease in net profit. the the increase in the allowance for doubtful debts is treated as an expense because the double entry is to well one technique or one way of doing it is to debit the income statement. Debits to the income statement will decrease profit because they are treated like expenses. If it was reduced then that would increase net profit because then you have if if when you increase or create the provision you debit the income statement which is like an expense. When you reduce it you have to do the opposite which is crediting the income statement which is like a revenue. All right, cool. Um, state one measure that Raven Wade could implement to help control or reduce bads going forward. Um, he should have a better word, boy. I want to say credit control policy, which is basically part of which has to be like a screening for your debtors, right? Um, so what that means is that they have to sign a contract when you make a credit sale to them agreeing to pay you on a specified date or buy a specified date, a specific amount, and agree to the conditions. if they don't pay, right? Um so that way if they if if they're just refusing to pay, you can he can take legal action. You could even um you could sell the debt, you could you could give it to a collection agency, right? Sorry, Kesha.

[00:21:05]The first one, yeah, a payment by did not record it. It has no effect, right?

[00:21:10]Uh this one was decrease and this one was increase. Right.

[00:21:16]Right. So yeah, you could control or reduce bad debts. Yeah. I mean I mean you can't help it if somebody is goes bankrupt and has no money, right? You you can't do anything about that. But I mean if they're going to receiverhip and they're selling off their assets are paid and you can have a claim if if they sign something, right? Yeah. Um what about cash discounts? Oh, you mean to reduce bad debts? Um yeah, maybe if you if you if you if you give more discounts, I mean they'll pay, but I mean you'll get less, but it's better you get a little less than none, you know. All right. other than by check by cash or by check identify two methods of payment that could be used for acquiring goods. And why are they harping on this in the paper too? Well, you know, they're giving easy marks. So, okay, cool. No problem. My problem is again, they're filling up the paper with these small little I don't want to say stupid questions. These are they're valuable questions. Yes, just not for paper two. Save that for multiple choice. They want to recycle the same 60 questions and add in a new six. Great.

[00:22:13]10% of your paper had new questions when the next 54 repeated for decades.

[00:22:19]Anyhow, sorry, I told myself I wouldn't talk about that, right? Um, decrease credit sales. Yeah, if you decrease credit sales, definitely you'd have no datas at all. Sorry, not right.

[00:22:29]Motivated to pay on time. Jaden, how you doing that? I put e-commerce and credit card. Yeah. Yeah. Nene. Yeah. So you can have credit cards, you could have online bank transfers, you can have online electronic payment methods like there's PayPal, there's well in the states and of other regions there's Venmo. In the Caribbean we have we pay. There's a next one that I keep seeing but I I keep forgetting the name of it. Right. So you have other online payment methods that you could talk about, right? Other than cash out check, right? Okay. So that's question two. Um, okay. Let me just check. Right. So, would you be working it out? Yeah, Zara. Yes, but not today.

[00:23:09]Um, I have to go and pick up my steps up from school and when I get back, I prefer math class. I have math. I have double the math later. Right. Come go watch something. Right. Will you be doing paper one? Uh, yeah. Yeah. Yeah.

[00:23:21]Yeah. From not not next week. Monday, the Monday after. Right. So, after the advance exam, paper one. Allow more discounts. Yes, you're good. Paper one streams. Yeah. Um I have something on screen if if you download the um the learn it app um on the app store. You'll find in the POA section, the account section. I have a I have a lot of content there too and you should be able to find on my YouTube channel as well.

[00:23:45]Credit card and bank transfer. Yeah. Uh online. Yeah. Cool. Cool. PayPal. MMG.

[00:23:49]Yeah. Yeah, that's fine.

[00:23:52]Um paper one. Yes. How you pay? Um quickly. I got it quickly. Can you go back to the cash book? I I don't have any solutions up. So, you know, it doesn't see, right? Cool. Um, what was the app name? Uh, PayPal. PayPal. Venmo.

[00:24:10]We pay WI P A Y like West Indies Pay.

[00:24:13]Right. Okay. Sorry guys. Let's just do number three. Watch my time. My time go. Right. Pedro manufactures customized school jacket logos for secondary schools. The cost of making one logo is as follows. Okay. So we have direct materials, direct labor, indirect cost. Okay, 40 and 50 is 90 and 10 is 100. Okay, the math checks out.

[00:24:34]Pedro uses Pedro uses 40% markup to arrive at a selling price. Calculate the selling price of one customized school.

[00:24:41]Okay, so 40% markup. The markup is the percentage of the cost price that you then add back to the cost price to get your selling price. 40% of 100 is 40.

[00:24:53]100 plus 40 is 140. That's three marks.

[00:24:57]State two benefits Pedro's business will gain from using payroll software programs. Pedro manufact maybe maybe I maybe I interpreted it as like Pedro was in school and has like a little side hustle. So maybe is a customized school jacket logos. Okay. So maybe Pedro has people working for him.

[00:25:18]So benefits of using software programs.

[00:25:20]Basically, what it allows you to do is to keep track of things more easily and to execute more easily because if you have to do it manually, as in write out everything every time, it takes a lot of time when everything is done and you can just kind of copy and paste and repeat.

[00:25:35]So, long story short, it increases efficiency and helps to reduce errors because when you're doing things manually, writing things out, there's scope for error. Now, don't get me wrong, when you're using apps and software programs, there's also scope for error. Just once you use them properly, there's less scope for error.

[00:25:50]So greater efficiency, less scope for errors, right? All right, Jacob. Yeah, that confused a little bit. Yeah, I hear you. Using L.

[00:25:58]There will be less mistakes and error when cut. Yeah. Okay. Future. Yes, that's correct. Um, sorry. Clint, right? Cool. Right. Uh, other than peace rate. Now, here here the joke. Okay, ladies and gents. If you look on the CC P syllabus, you will not find peace rate anywhere. You wouldn't find peace rate, fixed um fixed salary, hourly salary, commission, that kind of stuff. It's not there. It in the textbook though. So yeah, thanks. Thanks syllabus people and examiners for clearly not communicating with each other and examiners for not reading the syllabus. Anyhow, other than peace rate, state three other methods that can be used to calculate employees gross earnings. Well, I just said them, right? Hourly rate, fixed salary, uh, over time. Is that's a method. Well, bonus commission. Yeah, we said commission, right? Okay, cool. That's three. And just state, right? Uh, okay, cool. Um, who's that? Is this PUA paper compared to the past years? It was actually save space and answer save space.

[00:27:14]Right. weekly wage, salary, and hourly rate. Yeah, that could work too. What's your opinion on the exam format? Folks, when you say without formats, I'm not entirely sure what you mean. Is it that they didn't give you a format to use or like there's no actual bookkeeping, right? So, now Okay, so no bookkeeping, no financial Well, there was bookkeeping. There was bookkeeping, right? No financial statements, no companies, manufacturing. Yeah. So, so Tanya, I agree with you. I I am all for you getting a nice paper, but at the same time, it can't be too nice. Now, of course, not everybody found this paper nice, but to me is a crime. It is it is unacceptable to have a final accounting exam without a financial statement on it. Right? And with that financial statement, you should have adjustments.

[00:27:58]Right? Now, I know some of you don't like to hear that, but that's the truth.

[00:28:01]Right? And again, it mightn't be your fault you didn't learn it. A teacher mightn't have done it. You might not have had a teacher. I don't know. Right?

[00:28:07]But again, what we get here is look at the draw. But let me finish talk about the paper first and then let me go on a little rant about the whole syllabus.

[00:28:14]Right.

[00:28:16]Right. Um that's what you hold on.

[00:28:19]Right. Fortnite. Yeah. Salary, job, work. Yeah. Yeah. Yeah. Job. Yeah. Yeah.

[00:28:26]No formats. Right. So underwhelming.

[00:28:31]Wonderful company. But the Britney to be fair companies came real big last year in two questions. Two question two and three. Yeah. All that said for nothing Jacob that feel that is feel like you get robbed. It is feel it feel disappointing when you study so much.

[00:28:47]Now some people of course yeah they they prefer if easier things come. But again let me I drift in. I want to finish this. I have like 20 minutes again. I'm going browse. I'm browse. Uh Louise works in a in the production department.

[00:28:59]She receives a guaranteed weekly wage of $2500 plus additional pay of $8 for each logo that meets the standards. Nile.

[00:29:10]Yeah. Hold on. Let me just tell N alive.

[00:29:24]Yeah. Sorry.

[00:29:26]The easy ones are the hardest.

[00:29:28]>> Yeah. During the week ended this, she had 470 logos. 20 of them did not pass quality checks.

[00:29:36]um card is gross pay. Okay. Guaranteed weekly which is 25. Okay. So 2500 plus 8 for each logo. So if she made 470 and 20 of them did not pass it means 20 from 470 is 450. So she's only going to be paid for 450. So 40 450 by 8 was that 3,400.

[00:29:57]Feel free to double check. Yeah. Right.

[00:30:00]Cool. So 3,400 plus 2500 is 5900. Five marks for that. Again we welcome the free marks. Lovely. You want to give it to us? Cool. Janice boy name is it is the accounts assistant in payroll company. Her gross pays 60,000 perom.

[00:30:16]She's entitled to a personal tax allowance of 9,000 per year. In addition, she contributes 5% of her annual gross with the national insurance which is tax exempt. She also pays union dues monthly. Uh income tax is charged at a rate of 25% on taxable pay. Okay.

[00:30:32]So the now they didn't say that union use is tax exempted. So income tax is 25% on taxable to find taxable pay you had to take 60 you had a minus the nine cuz she's entitled to a personal tax allowance. So it means that you're not charging tax on that 9,000. So you're taking 9,000 away from the 60. She contributes 5% of her annual gross pay to national which is tax. Okay. So 5% and this is 120th. That's 3,000. So that next 3,000 taken out. So it was 51 - 3 is 48, right? Um, now they didn't they didn't say that this is taxdeductible.

[00:31:06]So I I wouldn't count it as tax deductible, right? So 48 by 25% is 12,000. And then the union, by the way, is monthly. Yeah. So to scale up for the year is 25 by 12, which is 300. Anyhow, calculate the amount Janice pays for union in a year, right? So that's 25 by 12, which is 300.

[00:31:23]And Janice's take home pay for the year, right? So is he 60,000? You're not going to minus 9, right? nine is hers to keep.

[00:31:31]That's not a deduction that she's paying to anybody. That's just a deduction for tax purposes, right? So 5% of 60 like we said is one. That's 3,000. So 3,000 from that is 57. Uh 300 from 57,000 is 567.

[00:31:48]And then we said minus 12. So 567US is 447 I think. Right. Yeah. Sorry, I'm not talking up in the air figures. I do apologize. Right. Again, I try to move fast because we have things to do. 1K sum 12, right? No way. Buy. Yeah. Me, too. An SBA. Yeah. Pay one SBA, right?

[00:32:07]Um, buy. Yeah. All right. 6100 is the gross. Really? Okay.

[00:32:14]Cool. 6100. Why I say wait for who? Oh, for um what's your name? Up there with the um the things, right? You took out the 20, right? 450 by Hold on. Who it was?

[00:32:27]450 by 20 is 9,000. 9,000 plus is is 115. No, no, 450. Oh, no. 450 by 8, right? So, 400 by 8 is 3200. 50 by 8 is Oh, is 36? Yeah. Sorry. 36 is 61. It's 61. Sorry, sorry, sorry, sorry, sorry.

[00:32:46]61. Yeah. Nice. Please post the answer to stay for like I don't have time to do it later. Sorry, but I'm just browsing through. Yeah, I said 69. Sorry. My bad.

[00:32:55]That's my bad. Yeah. Yeah. Okay. Right.

[00:32:57]So, question three done. Okay. We almost there. Floral blooms boy.

[00:33:04]ATP. I keep seeing ATP. What does that mean? I know that's adenosine triphosphate.

[00:33:09]All right. Okay. Floral blooms is planning to invest in another business and is presented with data for its consideration for two similar businesses which operate in the same right.

[00:33:20]Periwinkle and vinka. Vinga. Okay. Um, calculate the following ratios for each with the gross profit ratio. So, do they mean the gross margin, which is gross profit as a percentage of sales? So, that's 25% there to 20 over 80 is 25% as a quarter, right? Hey.

[00:33:41]Right. And then 24 over 80. Okay, cool.

[00:33:44]Well, let me do 24 over 85. Right. Hey, what you doing? Open. Open call. We open 24 by 85. So, about 28%. So 25% versus about 28%. Okay, cool. Uh return on investment. All right. So capital. So okay, that's your net profit as a percentage of your capital, right? So 80 minus 20. Sorry, no. So 20 20 - 10 is 10. So revenue to gross profit, right?

[00:34:12]So that's you've already deducted cost of sales there. So 20 - 10 will give us a net profit of 10. And 10 over 50 is that's 20%.

[00:34:20]24 - 12 is 12 and then 12 over 72 is 1.

[00:34:24]That's so that's 16.6%. 16.67, right? So you have a 20% return on investment here and that's 16.67. Okay, cool. A form has been provided on page 15 for your calculation. Show working clearly.

[00:34:37]Good. Sideways thing gross profit return. All right, cool. How many marks?

[00:34:41]Nine marks. State which of the two businesses has the better profitability position. Use the calculations in a part two to justify your response.

[00:34:54]Did I do that wrong? Then 20 over 80 is 25%.

[00:34:59]And then 24 over 85 is 28%. So on that on that side, Vinka has a slight edge, right? But then if you take your um whatchamacallit the net profit, so the net so in each case the net profit is actually equal to the expenses, right? 20 - 10 is 10. 24 - 12 is 12. In the first case, 10 sorry, 10 over 50 is 20%, right? That's 2. 20%.

[00:35:26]Right? And 12 over 72 is 16, which is 16.67%.

[00:35:33]Yeah. So in that case, I would say the return on investment being 20% is better because that means that you're getting back more for every dollar invested, right? The gross profit being 25 versus 28. Hm. Well, in each case is about a 3% differential. Between 25 and 28.3 is 3.3%. Between 16.7 and 20 is 3.3%.

[00:35:58]So, you had to justify it. So, again, I don't think there was a single right answer because they were they were close, right? Um, I would say to be honest that I would probably lean towards the one with the higher return on investment because you're getting you're getting more profit back for each dollar invested. Right? So for the for the for who you name the first company, Periwinkle, you're getting 20 cents back on every dollar invested. Whereas for Vinka, you're getting 16.7 or 16.67 cents back for every dollar invested.

[00:36:29]Right? And to me, the net profit matters more than the gross profit. But I mean, gross profit comes from net profit. So clearly we have an issue there. Anyhow, um identify one ratio which floral blooms company may use to calculate liquid. Okay. Identify current ratio or the quick or asset test ratio. Don't you have two liquidity ratio? You're supposed to state the formula for current for the ratio one. Current ratio is current assets divided by current liabilities. Quick ratio is current assets less inventory. Closing inventory divided by current liabilities. Right?

[00:37:01]Um there is actually a different formula for it. If that's the one you use, that's perfectly fine. So it's like cash and highly liquid investments.

[00:37:09]Well, when I say cash was cash and equivalent, right? But that's more of a form six version, right? So my error carried forward. Yes.

[00:37:19]Um was it perwinkle? I would have perwinkle to be honest. But you could you could have made a case perhaps for Vinka, but I don't I would have le to perwinkle. China pick it up. Right. Food I love. So periwinkle here asset test. So current current assets minus the closing inventory then divided by current liabilities.

[00:37:44]Um key paper comes current ratio coming that okay cool lovely peri you have to have it as a percent. I is easier to compare as a percent. As fractions are not as easy to be comparable unless you have a common denominator, which you could do, right?

[00:38:01]Right. A percentage is just a fraction over 100. Okay. Use appropriate figures from table one on page 14 to calculate the liquidity position for each business and then state which of the two has the better liquidity position. All right. So yeah, so you have your closing inventory here, right? So account receivable bank.

[00:38:24]All right. So okay if we do the current ratio for periwinkle you add these three things 13 and 7 is 20 20 and 20 is 45.

[00:38:33]45 over 15 is 3:1.

[00:38:36]So perle have a 3 to1 current rat. So that's so $3 of current assets exist to pay off every $1 of current liabilities.

[00:38:43]That's cool. For vinka 17 and 8 is 25. 25 plus that is for 45.5id by 10 is 4.55 to1. So they have $4.55 of current assets to cover every $1 of current liabilities. Okay. So it was a 3:1 for Periwinkle for current and 4.55 to1. Now if I make any mistakes with the calculations, let me know. LRA did next year. So yeah, I know. Yeah. Okay. So so far how they name so far Vinka winning, right? I think that has to do with having lower current liabilities.

[00:39:19]Anyhow, if we exclude the closing inventory, 25 and 7 is 32. 32 over 15, a little more than two. 2 and 21, right? So 32 divided by Sorry, hold on. 32 divided by 15. So 2.13. Okay. And across I have 20 + 8 is 28. 28id 10 is 2.8. Okay. So Vinka win here hands down. Right. Vinka wins because Vinka has a current ratio sorry yeah a current ratio of 4.55 to1 relative to periwinkles 3:1 and then they have a um an acid test ratio or quick ratio of 2.8 8 to1 as opposed to um periwinkles was was it 2.13 or 2.3 one of them right so yeah I think that one there that one was a was a a clear winner right um blah blah blah blah blah periwinkle winkle you use okay state which of the two businesses has the better liquidity right so yeah that's small things so yeah use appropriate figures yeah so to me I should have used board ratios Yeah. And three marks, boy.

[00:40:30]That's a weird thing to give for three marks. All right. So, question four done. All right. Any other questions?

[00:40:35]Uh-huh. Manufacturing Mishiki.

[00:40:38]All right. Cool.

[00:40:40]You got that one, too. All right. Cool.

[00:40:43]So happy.

[00:40:45]Right. Genevieve. Right. As a POA teacher for 26 years, I respect it. Oh, thank you very much, Miss Miss Man or Mrs. I don't know. All right. I appreciate your appreciation. Yeah.

[00:41:00]Yeah. So, yeah. Yeah, we have a few years of I I have 23 years. So, yeah, we close there anyhow. But yeah, but I mean yours too, right? Some people don't like that I talk very quickly. Um and they probably wanted to see some figures, too. But yeah, I have I have a time constraint, so I can't do what I wanted to do, but that's that's life. All right, cool. Yeah, big up to Miss Mu.

[00:41:22]Okay, define the term sales budget.

[00:41:25]sales budget is a sorry guys the the the theory or the worded parts my brain don't function that well because I've had very bad sleep for the past three and a half years and my wife has had worse sleep right so anyhow but long story short it is a budget and I don't like to use back the words in the definition which shows it shows the quantity that you plan to sell the selling price you plan to sell it at and the total revenue you expect to get from from selling that quantity at that price. Long story short, right? The following data shows right um games port corporations budgeted sales quantities and corresponding selling prices for the initial month. Sorry.

[00:42:09]Okay. Budgeted sales budgeted selling price. Okay. So, selling price going up consistent. There's a big jump from Jan to February. So, this maybe they they introduce it here. So at a special low rate and then they they dropped the real price on them and it had some small increases thereafter.

[00:42:25]Okay. All right. No props. That's that.

[00:42:29]Right. So use the form provided to prepare a sales budget for gamesport.

[00:42:33]All right. Cool. So all you're going to do, right, all you're going to do is take the 22, 34, and 38. You're going to put that here. And a column for total, which I don't often see. It's supposed to happen, right? and then put 20 26 and 27 here. Don't add up the prices. Don't do that. Right? Just the quantity and the final. Right? Your multiply going down and you add going across. Right? Uhhuh.

[00:42:59]Financial plan, right? That projects the estimated amount of sales expected for Yeah, that could work too. Um, I would say amount and h what do you say? Because see amount could be quantity which is the number of units and amount could be dollar amount right and it's both it's both you're supposed to show right you're supposed to show the quantity and then of course the dollar amount when you multiply price by quantity right okay um that's three marks calculate the percentage increase in selling price from Jan to Feb why six order that's 30% increase in price that's three marks hey they were real generous here this is the percentage increase in from from Jan to February. So it's a $6 increase over 20, right? Yeah, that's 30%. Three marks.

[00:43:47]Boy, that's a one mark question. All right. If they want to gear marks, take it. Games port Corporation follows the policy of maintaining an ending inventory for each month, which is equal to 10% of the next month's sale. Okay.

[00:43:59]Okay. So the ending inventory for any given month is 10% of next month's sales. So, the ending inventory for January is 10% of February sales. The ending inventory for February is 10% of March's sales. Ending inventory for March is 10% of April sales. All right.

[00:44:22]30% of what you're right. Mhm. Mhm.

[00:44:27]Right. Easy. Enchanted whispers. Right.

[00:44:30]Samir change. Yeah. I have the prices. No, no pressure.

[00:44:37]Jane, Jane, calm down. It's all right.

[00:44:39]It's all right. Don't worry about it. It don't go already and it's not a big deal. Yeah. Yeah. Easy, easy on the um the profity. I I can appreciate it. I understand. But trying to keep it clean, you know? Right. Six. Uhhuh. Teacher teacher hasn't sent the SBA grades yet.

[00:45:00]H. Okay. All right. Alen, let me see.

[00:45:03]All right, cool. So, basically what you're doing, so you want the what the wait and they gave you look a format there. They gave you the format. All right, but you had to know you have to add sales plus ending inventory minus beginning inventory. Yeah, this this line is a kind of uh it not it's not unnecessary, but it's not entirely necessary. You could have it. Okay. All right. So, basically what you're going to do, right? And uh should I spend the time to do this one? Boy, wait. And then right, you know, they did this recently a couple years ago, too.

[00:45:43]They didn't give you the opening inventory for January. And how you had to find it was like this, right? You see, right? See if you could follow me on this. Right.

[00:45:56]Right. So the policy sorry my bad right is the closing inventory is 10% of next month's sales okay so right so check this the closing inventory for January is 10% of February sales but listen to this right the closing inventory for any given month is the opening inventory for the next month so the closing inventory for January becomes February's opening inventory So technically speaking, the opening inventory for any given month is 10% of sales. All right, which means that the opening inventory for January is 10% of that because I don't feel that they gave it to anywhere else in the question. Did they? Nope. That's the start of the question there. Nothing but opening inventory. Right. And they did that recently as well. A couple a couple years ago. Was it last year? January boy. Anyhow, right. So, right. So, right. So 22 plus 34 3.4 right so that's 25.4 minus 2.2 which is 23.2 too. Yeah. Something so right. Okay. Cool. So, yeah. So, they gave you stuff. You could have do it.

[00:47:12]Uh-huh. 2023. Maybe. Yes. Yes. It was that. You don't even know what you do.

[00:47:18]It's only sher. All right. Addie, you're cooking. Nice. Nice. All right. 2023.

[00:47:24]Yeah, I see. I see. I heard you. Cool.

[00:47:26]Total budgeted costs cost of units produced for the month of February is $680,000. Okay. Calculate the production cost per unit. Okay. Cool. So for production for February, you would take the 680 400 and then divide by whatever value you get here. All right. Um shall we do it?

[00:47:47]Uh nah, I had to leave. Yeah, I'll leave just now. I want to finish the paper.

[00:47:51]Right.

[00:47:53]So cost per unit is total cost divided by total number produced. Okay, cool.

[00:47:57]Next. Games port. Oh, no. This is the same production budget. Okay, cool.

[00:48:01]Centry is 10. 10 entry is 13. All right, we got seven more marks to go. Oh, wait.

[00:48:05]Wait. What are they miss?

[00:48:08]One.

[00:48:10]One and three is four. Four and three is seven. Oh, that was the seven marks there. Okay. Seven and three is 10. So, three more marks to go. A markup of 50% is applied to the production cost per unit. Calculate game sport corporation.

[00:48:24]Okay. So, all you do just So, they brought markup again. Yeah, boy. This paper who do this paper, boy. All right.

[00:48:32]Cool. So, I have Sorry.

[00:48:39]Okay, cool. Yeah. All right. So, here's my take on this paper, right? It was not as bad as last year's paper. I do not like last year's paper, right? I make no beans about that. I entitled my opinion, right? Okay, cool. Now, again, it still is something I can practice. Question one wasn't that bad. Two and three, again, based on the same information.

[00:49:01]four. The less said about that, the better. Question five was all right, except for the very last part, which was ticker box trippingness. Just anyhow, sorry, we're not in 2025 anymore, Christopher. We're in 2026.

[00:49:15]So, overall for this, you have a cash book. You have some little theory parts here. Okay, good for 15 marks for this part cash book. I ain't about that. Then you had pro bad debts on journal entries and income statement for for bad debts and provision for bad debts. So it's like deep cuts, right? And then you had again ticker box thing. Okay, I could that that was right. But again save that for multiple choice. Now man, put big things on this paper, right? Um then we had again markup, right? So markup here. Um software programs. I like these software programs. Sing boy. Payroll. Okay. Okay, I mean perial is a decent topic and they had different pieces to there. Then we had more ratios here, profitability and liquidity. Not bad. And then finally we had budgets. We had a sales budget and a production sorry budget. Sorry guys and markup again. All right. So not a single income statement, not a single balance sheet, no appropriation, no manufacturing, um no bank wrecks, no control accounts, no error correction.

[00:50:34]So h yeah and the thing is right if I want the paper to be hard okay let me let me clarify what I saying right I believe every paper should be a mix of easy medium and medium plus questions when I say medium plus not hard nothing's supposed to be hard right when I say hard I mean again I had to explain what that is but we'll come back to that right so in this paper based on what I said there there was a decent mix. Okay, so the paper will get a passing grade or like a C-grade, right? Let me explain why. And a you you guys most of you guys, right?

[00:51:15]If you're prepping for this, you all were doing income statements and balance sheets with adjustments. You were hitting up appropriation accounts for limited companies and partnerships and of course practicing the capital section and journal entries, right? Some of you were doing cooperatives with appropriation account, income and expenditure. I know plenty of you were doing res payments, bank Rex with updated cashbook of course, control accounts. I'm sure some of you do that.

[00:51:40]Stock valuation, right, G talking about that now, right?

[00:51:45]Um, and I think it is patently unfair for you to put in so much work and for these little deep cuts. Right now, don't get me wrong, my philosophy is that you need to be prepared for for anything they bring.

[00:52:02]But I know that that is a tall order, especially when some of y'all may not have had a teacher at all. The teacher may have been inconsistent or changed during the year. You may have had gaps with no teacher. Even if you had a teacher, you may not have resonated with his or her teaching style, and you may not have been able to go to our lessons or whatever the case is. Right? Now, again, I'm not criticizing any teacher here, right? Teachers have their own challenges. I was in the public service as a teacher as well and I know of the challenges, right? And and that was when I was free, single, and disengaged. Now that I'm married with two kids, well, three kids cuz I have a stepson, right, who had a go for just now. Um, if I was in the same position, I don't know that I would have been able to be to operate in the same way, right? Lack of sleep for three and a half years, right?

[00:52:49]Financial pressure, not being able to exercise, that kind of stuff, right? So again, I'm not criticizing any teacher, right?

[00:52:56]And the the syllabus has too much content on it to teach in the time effectively plus a SBA. And then we had the whole thing with the SBAs and the AIB checkers um seeing that some of y'all used more AI than you actually did. And in some cases, you all didn't use any AI, right? And it says 40% AI.

[00:53:19]Anyhow, I almost cussed there, too.

[00:53:21]Sorry. Uh, so yeah, I do not like that you all put in so much work and this is all they brought right now. Again, I know some of you all were happy because it was kind of easy. Me rock, I see what you're saying there, right? Let me fight the paper. Fight the one from last year too, please. Hey, Aaron, I see you on there. Right. Yeah. So, I am Ky Kyrie. Yeah. Yeah. Yeah. So, yeah. Um, I think it's unfair for you all to learn one. so much information and so little time, right? I I feel like the people who set these syllabuses are totally out of touch with the realities of teaching on a day-to-day basis, right? And I have been told by a reliable source that the people in charge of CCP are not themselves accountants. Now again, I can't say that with a 100% certainty, but the person told me I trust a lot, right?

[00:54:13]And the people who are in charge of it are people with business degrees who have done accounting courses and maybe teaching accounting courses in universities, right? And that's that would explain why you we've seen things on the paper, right? Not necessarily recently per se, but we've seen operating profits and we've seen statement of changes in equity, right?

[00:54:34]That's the 2019 paper for um for the companies, right? May 2019 paper too, right? There are clearly people who set questions who are out of touch with what the syllabus for CC Pa is actually asking and there also seems to be no cross-checking the paper thereafter to see if there were any issues right or maybe the person who made the question cross check it themselves and were blind to their the problems in the question right um yeah but long story short right the paper today was would be good for some not good for other people and that's basically how every paper is which to me is unfair. So, here's what I actually put up a post on my private community today in school.com, right? Oops, I wasn't supposed to show that, right?

[00:55:22]School school.com, right? Um, I don't have time to read through the whole thing, but I will just show you all the part that you're all not going to like, right? How I would do the exam, right? I would do the exam.

[00:55:37]I would give you three papers, but no multiple choice and no SBA. Papayer one would be just junals tea accounts that you have to balance and do a trial balance and on top of that you have expense and revenue accounts with a prepayment and an acral a provision for bad question a depreciation question and the extract so not just the calculation but the te accounts and the extract that's paper one paper two would be big paper right financial statements income statement and bure for soul trader and you'll have partnerships and LLC's there with appropriations so that so you can't get you can't get three things for the partnerships and the companies, right? I might stick in some journal entries there, but you might get income statement and balance sheet in total with appropriation. You get like the extract of the balance sheet for the capital section, right? Cooperatives and nonprofits, they don't have to be in the syllabus. I like those topics, don't get me wrong. I like them, but they don't need to be there. All right. Um, paper three, supplementary topics, bank Rex, control accounts, error correction with suspense, payroll, stock valuation.

[00:56:35]Fine, no problem. We do not need budgets, cash projections and business plan in the syllabus. Right? And of course, you still have other stuff like the software and the ethics and the role of the accountant for dying somewhere else. Right? Now again to me it serves the purpose of a better exam structure where you know exactly what topics are coming and where. Now again this is not reality. This is how I would do it.

[00:56:59]Right?

[00:57:01]Wouldn't Excel no see here. Okay, right.

[00:57:04]If you know what coming on our paper, right? We did you know what coming on today's paper? No. Who knew it? CXE, right? If you know paper one is just journals, tea accounts, bad provision for bad and bad debts, depreciation and across repayments. You know what coming have no question, right? Yeah. No question. You know what coming, right? If you know paper two is income statement and balance sheet for soul trader journal entries appropriation account for and and balance sheet extract for what do you call it um um partnerships and companies you know what come you know what come you know what to study right the only the only thing I missed was manufacturing I think I got to put manufacturing here so banks control accounts error correction payroll stock and manufacturing right so if you know what come then you know how to study right when you don't know what come in you have to know everything now don't get me And as you can see, I took off stuff from that syllabus, right? Anyhow, like I said, that's just air in the airy fairy pie in the sky thing about it.

[00:58:11]Anyhow, folks, I had a I had a cut and run, right? At some point in time, you'll see me put up my um solution for 2024, 2025, and 2026, both John and me in my usual style. Um but between now and then, again, yeah, you have um other things.

[00:58:29]Yeah, other things to do, right?

[00:58:36]Seeing uh let me not go down that road.

[00:58:40]I don't see what the relevance of that is to um what we talking about right now, right? Feel like two years going to waste. Mia, I hear you. Yeah, it could feel like that, you know. Anyhow, folks, paper one sessions will be probably from the 18th of May. Oh, my time table.

[00:59:00]Where my time table? Hold on.

[00:59:04]Lesson plans this.

[00:59:10]Right. So, PUA was today. So, I have some maths later. I have some maths tomorrow. I finishing my cape people on Saturday. Yes, Sunday. I had to cancel that class cuz it's Mother's Day. Almost forget. Um, and then yeah, German maths holy Monday, but of course it English B.

[00:59:25]Who who was the person who put English BMAT on the same day? Who's so doish really? Right.

[00:59:32]Anyhow, um yeah, as you can see aftermath is just jamming admat the rest of the week basically and then admat is the Monday. So from the Monday we jamming paper one POA for those three days, right? Uh cuz that multiple trades on the Thursday right after that jamming paper one mats up until mats and somewhere in between I had to put my my cap account in people because I mean I have them I can't abandon them. All right.

[01:00:02]And then after that admat starting from the Saturday the 30th. So you have 1 2 3 4 5 days of admats up until this the 4th of June and then well that that's it for me. All my papers will be done. All right. So folks that's about it for now right again even if the exam was bad in multiple choice we trust right focus on what is in front of you not what has happened or what is behind right take your time grieve where you had a grieve but grief fast and move on folks secretary secret diary let's study for partners no problem soon yep yep I agree with