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ifeoma

Profile picture of ifeoma
Active 9 years ago
  • Topics: 5
  • Replies: 14
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Viewing 14 posts - 1 through 14 (of 14 total)
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  • January 18, 2016 at 4:06 am #295412
    mysteryifeoma
    Member
    • Topics: 5
    • Replies: 14
    • ☆

    Passed with 66% on first attempt. Could have been better, knew I messed up in the risk question. Grateful to God all the same.

    December 12, 2015 at 5:37 am #291268
    mysteryifeoma
    Member
    • Topics: 5
    • Replies: 14
    • ☆

    P1 was fair enough but cannot say easy. Question 1 was ok. But not sure of the part of the functions of the risk committee and did not sign off my article.
    Question 4 was ok too but struggled with the effect of accepting the bribe. Knew it but not too sure of my presentation.
    Half way through Question 3, I realized it was tough. Couldn’t differentiate between requirement b and c. May have fared better with Question 2. Trusting God for success.

    December 12, 2015 at 5:25 am #291265
    mysteryifeoma
    Member
    • Topics: 5
    • Replies: 14
    • ☆

    Reading all these feed backs, I am scared stiff. Fingers crossed and trusting in God to see me through.

    October 19, 2015 at 2:51 am #277228
    mysteryifeoma
    Member
    • Topics: 5
    • Replies: 14
    • ☆

    Passed with 60, on first attempt despite all the errors I made. Thank God for answered prayers.

    September 2, 2015 at 8:19 am #269538
    mysteryifeoma
    Member
    • Topics: 5
    • Replies: 14
    • ☆

    Thank you sir. I get it now. If it the question had been adjustment in subsidiary books, then it would have been:

    URP of 70,000 – 14,000(excess depreciation) = 56,000.

    Thank you.

    August 21, 2015 at 2:23 am #267915
    mysteryifeoma
    Member
    • Topics: 5
    • Replies: 14
    • ☆

    Sir, pls also assist with the MCQ below. I got $1,437,600 but the answer says is wrong and I don’t get why. Below is the question:

    On 30 April 2014, Algis’s closing inventory was counted and valued at cost of $1.46m. Some items of inventory that had cost $140,000 had been damaged in a fire during March and are not expected to achieve their normal selling price which is calculated by adding a standard mark up of 40%. The sale of these goods will be handled by an agent specializing in fire-damaged goods who is expecting to sell them for 75% of the normal selling price and will charge Algis’s a sales commission of 20%.
    At what value will the closing inventory of Algis’s be reported in its statement of financial position as at 30 April, 2014.

    August 19, 2015 at 7:02 pm #267798
    mysteryifeoma
    Member
    • Topics: 5
    • Replies: 14
    • ☆

    Thank you.

    August 18, 2015 at 9:28 pm #267681
    mysteryifeoma
    Member
    • Topics: 5
    • Replies: 14
    • ☆

    Yes sir. The question now is how did you arrive at it?

    August 1, 2015 at 6:43 am #263986
    mysteryifeoma
    Member
    • Topics: 5
    • Replies: 14
    • ☆

    Passed with 60%. Grateful to God.

    August 1, 2015 at 6:37 am #263979
    mysteryifeoma
    Member
    • Topics: 5
    • Replies: 14
    • ☆

    68% on first attempt. So very happy!!!.

    So grateful to open tuition.

    May 22, 2015 at 2:46 am #247812
    mysteryifeoma
    Member
    • Topics: 5
    • Replies: 14
    • ☆

    This one is difficult. I thought linear programming was for situations where we have more than one resource constraints and there are 2 assignments or products. In this case there are 3 products. How can we then plot this on the graph. Really interesting!!!!

    Waiting for the solution too

    May 21, 2015 at 9:10 am #247548
    mysteryifeoma
    Member
    • Topics: 5
    • Replies: 14
    • ☆

    Yes. The cost of the old factory but I hope the professor will still reply so that we will be double sure the solution I have given is right.

    May 20, 2015 at 1:55 pm #247398
    mysteryifeoma
    Member
    • Topics: 5
    • Replies: 14
    • ☆

    You wrote Jake bought factory on May 1999 for £540,000. That’s in the scenario as the initial cot of old factory.

    May 20, 2015 at 12:21 pm #247383
    mysteryifeoma
    Member
    • Topics: 5
    • Replies: 14
    • ☆

    Following the scenario David has painted of Jake reinvesting only £550,000. What I think will apply is this:

    Sales Proceeds £600,000
    Less Cost. (£540,000)
    Gain. £60,000
    Rollover relief £10,000 restricted to 85% (£8,500)
    Chargeable gain. £50,000 plus 15% non biz (£1,500) = £51,500

    Since the entire sales proceeds was not reinvested hence partial rollover relief applies. £50,000 (£600,000 – £550,000) will become immediately chargeable for CGT.
    The rollover relief relief should have been £10,000 the balancing figure. However because the asset has only 85% business use, only £8,500 will be available for relief. The balance non business portion of £1,500 will also be immediately chargeable bringing the total chargeable gain to £51,500.

    Sir, please is my answer correct. Please let us know.

    Thanks

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Viewing 14 posts - 1 through 14 (of 14 total)

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