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Noted. I thought the permanent staff were being very efficient by working 2200hrs instead of 2475 hrs
“But the question says that they currently only satisfy 60% of the external demand”So this means that C co has unlimited demand ?
Well understood that $8,010,000 is only for external sales of 60%.Therefore for the remaining 40% will be 8,010,000*0.4/0.6=$5,340,000.
Now, why should we assume that $5,340,000 could be sold externally when we are told that C co has a limited demand.
Hi,
I don’t understand the calculation of the unsatisfied external demand.Assist explaing.
Hi Mike,
A owns 30% of B & exercises significant influence over it.B sold goods to A for $160,000.B applies a one third mark up on cost.A still had 25% of these goods in inventory at year end.What amount should be deducted from consolidated retained earnings in respect of this transaction ?
What does this phrase mean ”applies a one third mark up on cost”
My appologies for not mentioning that its an investment property.
What’s not clear is I thought the change will give rise to a revaluation surplus which must be shown to the statement of other comprehensive income.Help me understand this clearly ?
Hi, IAS 40 accounting for investment property says that changes in fair value i.e gain or loss should be credited or debited to the income statement.Suppose at 31/12/2008 a property had a fair value of $500,000 which becomes the carrying amount as at 01/01/2009.We are then told that after revaluation this property had a fair value of $700,000 as at 31/12/2009.Kindly, explain the treatment of the change in fair value.I’m having problems in understanding it at whether it should be shown in other comprehensive income.
I thought $16.31 should have been added to payables figure of cholmondley 2166.85 i.e crediting cholmondley since the GBP exchange rate has appreciated from 9.23 to 9.3 making Numea to pay more to cholmondley.Again once we are told that the parties entered into a contracted rate of exchange we should always use that one regardless of fluctuations ?
Well understood on the first part.On the second part kindly explain clearly on how you are getting -500 balance when calculating deferred tax.
Hi, I need clarification on the same.paper F7 sp ecimen exam paper of september 2016.Question 31 on how they treated current tax amount stated in trial balance ($1,100m) as an over provision in previous year (refer suggested solution) on how they calculated deferred tax specifically a balance to be reflected in SPL.Thank You.
