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linluo

Profile picture of linluo
Active 6 years ago
  • Topics: 7
  • Replies: 3
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Viewing 3 posts - 1 through 3 (of 3 total)
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  • December 4, 2015 at 8:37 pm #287664
    mysterylinluo
    Member
    • Topics: 7
    • Replies: 3
    • ☆

    Dear Sir,

    Here are the questions and treatments that don’t appear to be consistent

    1) question from 4 Dec 2014
    P had a treat receivables balance owing from s of 1.2m as at 30.09.14. This differed to the equivalent trade payable of S due to a payment by S of 0.4m made in Sep which didn’t clear P’s bank until 4.10.14. P’s policy for cash timing differences is to adjust the parents financial statements.
    A: trade receivables -1.2m
    trade payables -0.8m
    bank overdraft -0.4m

    2) question from BPP Mock exam 1
    S’ current account balance with P at 31.03.x3 was 2.8m, on which didn’t agree with P’s equivalent receivable due to a payment of 0.9m made by S on 28.03.x3, which was not received by P until 3.04.x3.
    A: trade receivables -0.9m-2.8m
    bank -0.9m
    trade payables -2.8m
    Tried to apply your method, however, it doesn’t appear to be that straightforward.
    Your time and help will be highly appreciated.

    July 17, 2015 at 9:17 am #260979
    mysterylinluo
    Member
    • Topics: 7
    • Replies: 3
    • ☆

    Thank you Sir. The need of a pair of glasses has become more obvious. Have a good day.

    July 16, 2015 at 11:49 am #260893
    mysterylinluo
    Member
    • Topics: 7
    • Replies: 3
    • ☆

    Dear Sir

    Many thanks for your advice and the tips!

    Not sure why it went to P7, did go to “Ask the Tutor ACCA P7 Exams” and posted the message there.

    Have a good day.

    Lin

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Viewing 3 posts - 1 through 3 (of 3 total)

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