"Nothing in life is free.."
Me passing ACCA papers thanks to the free lectures and notes- *confused opentuition noises*
B
Bristi·
The exam fees looking at you ?????
A
Ali Sarwar·
1362 XDXDXD
A
Anna·
Hello,
Will the income of $8638 appear on the debit side of Income accrued a/c (immidiately) and interest income on the Interest receivable a/c (gradually) on SFP and will both stay there untill the customer pays what he owes in 3-years time?
Thank you!
P
PartyKat·
Hi!
I see entries as:
Dr Loan to customer (SFP) $8,638
Cr Revenue (SPL) $8,638
Then each year (let's say car was sold on Jan 1) we accrue finance component, it would be:
Dr Loan to customer (SFP) $457 (=$1,372/3, over contract term)
Cr Interest income (SPL) $457
When customer pays:
Dr Bank
Cr Loan to customer
C
Chladny·
Thank you!
F
folerence·
5% is 0.05 so add 1=1.05.Then there is a sign that looks like a v facing down on your cal.Now type 1.05 on your cal then press that sign then 3 it will give you 1.157625.Now divide 10000 with the ans.
C
Ciara Smyth·
Hi Sir,
The lectures are great, thanks so much for providing them.
Would it be possible for you to tell me the calculator procedure for the below;
10,000/(1.05)3
I have searched and searched me MA notes and for the life of me I cannot remember howto do this. I presume we will not be given the tables for this exam and it has come up twice already in this topic.
Kind regards,
Ciara
N
nomalangadube·
its not 10000/(1.05)3 but its 1/(1.05)3 which is 0.863838 then multiply this by 10000 you then get $8638. I know its late but I believe others might be in the same predicament as well.
Me passing ACCA papers thanks to the free lectures and notes- *confused opentuition noises*
Will the income of $8638 appear on the debit side of Income accrued a/c (immidiately) and interest income on the Interest receivable a/c (gradually) on SFP and will both stay there untill the customer pays what he owes in 3-years time?
Thank you!
I see entries as:
Dr Loan to customer (SFP) $8,638
Cr Revenue (SPL) $8,638
Then each year (let's say car was sold on Jan 1) we accrue finance component, it would be:
Dr Loan to customer (SFP) $457 (=$1,372/3, over contract term)
Cr Interest income (SPL) $457
When customer pays:
Dr Bank
Cr Loan to customer
The lectures are great, thanks so much for providing them.
Would it be possible for you to tell me the calculator procedure for the below;
10,000/(1.05)3
I have searched and searched me MA notes and for the life of me I cannot remember howto do this. I presume we will not be given the tables for this exam and it has come up twice already in this topic.
Kind regards,
Ciara