ACCA Business Law (ENG) lectures Download LW (ENG) notes
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Asif, 70% is a mark to be proud of – don’t knock it
Well done … onwards and upwards
In this lecture the total after removing the 100 shares from share premium and 100 moved from retained earnings to another non-distributable reserve the total is no longer 1100… it becomes 1000
The total never was $1,100 and we did NOT remove 100 shares from share premium
We reduced share capital by $100 and the effect of that was to reduce the buffer fund from $850 down to $750
So now restore the buffer fund by the transfer from retained earnings to a new undistributable reserve
The effect of that restoration is to re-increase the buffer fund back to $850 and reduce the retained earnings down to $150
The mistake that I have made is to write ‘$1,100’ as the adjusted total instead of $1,000
I even say ‘$1,100’ when in fact the total is (and always was!) $1,000
But thanks for your input and well done for spotting that error
I’ll probably not change it by re-recording the lecture – that wouldn’t really be worthwhile because the figures should make sense from the words that I’m using during the illustration
OK?
Ok, no harm done. 馃檪 Loved all your Lectures. Going for exam on the 26-09-19 for F4. Wish me luck. 馃檪
I shall wish you luck if you really think that it will help you!
Good luck (but you won’t need luck if you’ve put in the hours with a revision kit!)
馃檪
cleared with 70%…. was trying for higher but will do. 馃檪 thanks