[AymanR7]

Thanks for the clarification.

[AymanR7]

How did you guys find the Internal controls questions? I think it was the last of of the 3

[AymanR7]

Understood, Thank you.

[AymanR7]

Passed with 63%, Thank you open tuition.

[AymanR7]

Income tax $ % =
Taxable income 167,000
NSI basic rate 41,700 20% 8,340
NSI higher rate 95,300 40% 38,120
DI nil rate 2,000 0% 0
Di higher rate 15,000 33.75% 5,063
DI additional rate 13,000 39.35% 5,116
Tax liability 56,638
PAYE (48,520)
Tax Payable 8,118

This is My answer, the only difference between the 2 answers is that the income tax liability calculated is 56,288 pounds in the lecture notes.

[AymanR7]

The answer show a Tax Payable of 7768 pounds, whereas I am getting an answer of 8118 pounds.

[AymanR7]

53 marks, Thank you John and OpenTuition.

[AymanR7]

This is exactly what he does in the lecture:
DR OCI (Revaluation Reserve) 3850
DR SPL (Impairment Loss) 400
CR PPE 4250

[AymanR7]

Thank you for the explanation Sir, I understand my mistake now. This question was from a mock exam that’s why there wasn’t an answer for the question.

[AymanR7]

Thank you for the explanation Sir.

[AymanR7]

I have a small question regarding practice material. I have been using the BPP revision kit
after watching your lectures, is it necessary to get a Kaplan revision kit if I wish to attain a pass rate more than 70%.

[AymanR7]

Okay I understand now. After working backward as you said, the opening balance on the suspense account was $210 on the Debit side. Thank you for your help Sir.

[AymanR7]

oh ok I understand now. Thank you Sir.

[Author]

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