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Hi,
Q1 Warrburt taken from the December 2008 past paper; could you kindly tell me why 21 was deducted from trade payables please?
Thanks,
AnnekaCr. Credit Purchase 76
Cr. Exchange loss on Cash payable on 1
Cr. Exchange loss on Cash paid for Asset 1
Dr. Cash Paid for Asset (57)
= 21Is it not 100m dinars outstanding payment for the asset in note iii at the exchange rate of 4.8?
Of course! Because only 280 dinars were paid out of the 380 dinars by year end! Thank you 🙂
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