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Leonard

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  • March 7, 2015 at 2:38 pm #231616
    mysteryLeonard
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    Pliz help me how must l record the allowance in the SOPL

    March 7, 2015 at 2:30 pm #231614
    mysteryLeonard
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    opening allowance = 20000+(380000 – 20000)x 2.5% = 9500

    closing allowance = ( 420000 – 28000)x3% = 11760

    SOPL = 9500 – 11760 = 2,260

    Because the difference between the opening allowance less the closing allowance is what we charge SOPL

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