F7 Chapter 28 Questions
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How is calculation of question 2 done
The fund stood at $20,000,000 when the index was at 960
The index is now at 1,080 ie and increase of 1/8
1/8 x $20,000,000 is $2,500,000 and it’s a gain
The correct answer should be $2,500,000 not $2,250,000
Sorry
Please how do we know the market index stood at 960 when the fund was 20m?
The question states “At 30 September, 2015 this index stood at 1080, an increase of 120 since the previous September”
And you are actually asking me how we can know that the index stood at 960 a year ago? Really? Is this a genuine question or are you trying to wind me up?
Mike, could you comment on the 3rd pls?
Mynah portfolio
What comment do you want?
It must be Dr Cash, so that eliminates one option
Using the forecast loss model, out of the 2,800 only 1,200 can go to profit or loss
The other 1,600 must be written off the value of the asset
It has to be Dr Cash 2,800, Cr PorL 1,200, Cr portfolio 1,600