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- August 13, 2024 at 5:12 pm #709630
Thank you so much. The question is from Kaplan study text: practice question, number 79.
July 31, 2024 at 3:46 pm #709042Thank you for helping me figuring out the mistake I made in this question. I think there is a printing mistake in the answer provided. The question is from Kaplan Exam kit. Objective question number: 215.
July 31, 2024 at 3:25 pm #709039I’ve got it. Thank you.
July 24, 2024 at 5:07 pm #708824But the liability of $25000 is for next year. Is not it? Or should we need a clear date of year ending. I couldn’t quite understand it, explain please.
July 9, 2024 at 3:29 am #708074Yeah, I should have specified the doubt in
the question. I don’t have the answer, and the question is from the online group of students.
Should I include the loan (repayable in 4 annual instalments, starting January 2007)= 100,000 when calculating non-current liability as 25000? Since it is the liability start from the next January, I think it should not be included.
So, the amount of non-current liability is:
3250+31050+ 1200 =35,500.
35,500 is not in the options, but the 60,500.June 28, 2024 at 2:51 pm #707659Thank you.
May 28, 2024 at 6:35 pm #706197Thanks a lot, sir.
May 27, 2024 at 7:03 am #706097It seems finally I’ve got it. We only make general allowance for debts that don’t have specific allowance. In this case, though we made 60% of specific allowance, it means we have made the specific allowance. Since the remaining 40% is considered to be recoverable, we don’t want to include that 40% when calculating general allowance. So, we subtract total of $1600 and calculate general allowance like this: 10%* (62900-2000-1600)
May 27, 2024 at 1:55 am #706087Y co was in financial difficulty and Apple wishes to provide an for allowance for 60% of their balance of $1600.
My understanding for above part:
If the allowance is 60% of the debt, that effectively means the remaining 40% is considered irrecoverable debt. Is that correct?May 21, 2024 at 9:50 am #705776Thank you.
May 21, 2024 at 7:04 am #705767If the NCI is already a shareholder of the subsidiary, then why parent company has to pay full pre-acquisition retained earnings? For example, parent owning 70% in the subsidiary?
March 15, 2023 at 6:02 am #681323Thank you.
March 19, 2022 at 1:35 am #651511Sorry, it has happened mistakenly. I have reposted the question on the FA forum. I hope I can get clear my doubt there.
February 3, 2022 at 4:58 am #648024Thank you
February 2, 2022 at 8:46 am #647938159 Leddley owns two properties which it rents to tenants. In the year ended 31 December 20X6, it received $280,000 in respect of property 1 and $160,000 in respect of property 2. Balances on the prepaid and accrued income accounts were as follows:
31Dec20*6 31Dec 20*5
Property 1 13,400 Dr 12,300 Cr
Property 2 6,700 Cr 5400 DrWhat amount should be credited to the statement of profit or loss for the year ended 31 December 20X6 in respect of rental income?
Answer was:(ledger account)
Dr Rental income Cr
Balance b/f 5400 Balance b/f 12,300
SOPl 453,600 cash (1+2) 440000
Balance c/f 6700 Balnce c/f 13,400
465,700 465,700
Balance b/f 13400 Balance b/f 6700How does the $6700 come in Dr side of the account instead of Cr side?
How does the $13,400 come in Cr side of the account instead of Dr side?December 17, 2021 at 10:31 am #644458Thank you. I do self study for ACCA, and I have decided to do FA first. This question just popped up when I read the book under the topic of llC.Any ways, Thanks again.
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