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- This topic has 3 replies, 2 voices, and was last updated 8 years ago by John Moffat.
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- June 1, 2016 at 3:42 pm #318653
Hi Sir,
Could you pls explain to me the logic behind the question 10.3 of the Revision Kit(The chapter on Accruals and prepayments).
I cannot understand the answer that is explained.Thanks in advance.
June 1, 2016 at 4:52 pm #318686Before I spend time answering, please confirm that you are meaning the current edition of the BPP Revision Kit? (and please say which kit you mean in future – BPP are not the only publisher 🙂 )
The question I have as 10.3 starts off: At 31 March 20X2 a company had oil in hand…..
(If you are using BPP but a different edition, then question 10.3 might be a different one, so if it is not what I have just typed, then just type the beginning and then hopefully I will find it 🙂 )
June 2, 2016 at 8:33 am #318823Yes. This is the same question which you have written..I am really sorry for the inconvenience caused. In future I will keep this in mind..
June 2, 2016 at 12:00 pm #318850The heating oil that they purchased during the year is 34600 – 3600 + 3200 = 34200.
But they had inventories of oil at the start and end of the year, so the heating oil actually used during the year (and therefore the expense in the SOPL) = 8200 + 34200 – 9300 = 33100
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