• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Ask AI
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for September 2025 exams.
Get your discount code >>

Calculating the percentage of loan interest

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Calculating the percentage of loan interest

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by John Moffat.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • October 4, 2016 at 10:42 am #342361
    asikka
    Member
    • Topics: 5
    • Replies: 4
    • ☆

    I am stuck here.
    The question has this information
    In the Trial Balance as at 30/06/x7 I have the loan amount of 10,000 and Loan interest paid of 300.

    In the additional information it says Loan taken out on 1/7/x6

    The solution page gives the following
    Charge for the year 10,000×6% = 600
    Amount paid as per trial balance = 300
    Accrual required = 300

    Hence finance costs have been considered as 600 and interest accrual as 300

    I don’t understand how the 6% is calculated??

    October 5, 2016 at 2:21 pm #342455
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54693
    • ☆☆☆☆☆

    There must be more information in the question other than what you have typed (either the rate of interest, or details of when interest is paid on the loan).

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

Donate
If you have benefited from our materials, please donate

ACCA News:

ACCA My Exam Performance for non-variant

Applied Skills exams is available NOW

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

ACCA CBE 2025 Exams

How was your exam, and what was the exam result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Donate

If you have benefited from OpenTuition please donate.

PQ Magazine

Latest Comments

  • John Moffat on Investment Appraisal Under Uncertainty: Expected Values (example 2) – ACCA Financial Management (FM)
  • Dinomain on Investment Appraisal Under Uncertainty: Expected Values (example 2) – ACCA Financial Management (FM)
  • hoangacca on Cost Classification and Behaviour part 2 – ACCA Management Accounting (MA)
  • Elikplim on Time Series Analysis – ACCA Management Accounting (MA)
  • Elikplim on Time Series Analysis – ACCA Management Accounting (MA)

Copyright © 2025 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in