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The first years grant would now be sat in retained earnings, I removed this 10m from retained. I possibly wrongly assumed that the current years income would not have been recognised when adjusting, so cleared the remaining 20m from the deferred income liability to current liability. Anyone else care to share what they did for this?
I treated the grant as a liability. It was a 30k grant that needed to be repaid in full. Cr liability 30, Dr retained earnings 10 for first year and Dr deferred income 20 to clear current and next year’s balance
Can you tell me what did you get the ans for learning rate for section B ?
82 percent off memory, this was the actual learning rate for the first 16 houses.
I can’t remember figures but take the total time for 16 and divide by 16 to get average time per house at 16 houses.
Say this is X, and time for first house is Y
Y * LR^4 = X then rearrange to find LR
Anyone else do this?