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- December 19, 2022 at 12:43 pm #674902
I want to ask on this question that why investment income is dissapeared in consolidated statment of profit or loss
Tks very much
December 13, 2022 at 2:26 pm #674438Sorry if I have translation misunderstanding ” The cost of goods sold for 20X7 includes the $4.2m
error in opening inventory” is meaning the the closing inventory in 20X7 is added to 4.2 m?And in calculating retained earnings in 20X7 , the answer is
Opening retained earnings 21,950
Correction of prior period (2,940) (4,200-1,260)
I don’t understnad the correction of prior periodThank you
December 10, 2022 at 3:21 am #674133Why the tutor in FR forums do not reply user’ question like in the FA forums
December 6, 2022 at 8:36 am #673614I also want to ask part (I) and part (IV) in this question :
Part IV , this is the answer
Deferred tax $’000
Balance required at 31.3.X6 (27m ? 25%) 6,750
Current balance (2,600)
Deferred tax on revaluation (15m ? 25%) (3,750)
Charge to current tax 400I don’t understand balance required, current balance and why it is charge to current tax
And in part I, this is the answer
As this is a convertible loan note, it has to be split between debt and equity:
$’000
Interest years 1–3 (2,400 ? (0.91 + 0.83 + 0.75) 5,976
Repayment year 3 (30,000 ? 0.75) 22,500
Liability component 28,476
Equity component 1,524
Cash received 30,000Liability component 28,476
Interest (28,476 ? 10%) 2,848
Less interest paid (2,400)
Balance at 31.3.20X6 28,924I don’t understand ” As this is a convertible loan note, it has to be split between debt and equity”
And how can we calculate equity component =1,524
The interest is 2,848 and company paid 2,400 so why the interest is not = 0,448
Thank you so much
November 16, 2022 at 12:12 pm #671608I don’t know why the depreciation of purchased vans is 160000×20% =32000
Since it was purchased in 30/6 so in 31/12 it should be 160000×20%x6/12=16000November 13, 2022 at 7:11 am #671337thanks so much
November 11, 2022 at 3:26 pm #671270CASH BOOK (this is the answer)
$ $
20X3 20X3
31 May Balance b/d 873 31 May Bank charges 630
Error $(936 – 693) 243 Trade journals 52
Balance c/d 2,098 Insurance 360
Business rates 2,172
3,214 3,214
1 May Balance b/d 2,098
Sorry if i miss something but why balance b/d is 873
ThanksNovember 11, 2022 at 2:47 pm #670944Sorry i have some problems about languages
I dont get the question meaning : “Ordan Received a statement from one its suppliers , Alta , showing a balance due of $3980.” . Is it mean ordan owe Alta 3980 in bank statements?“The amount due according to the payablesle ledger account of Alta in Ordan’s records was only $230” . Is it mean Alta also owe Ordan 230 in payable ledger account of Alta?
Thanks in advance sir
November 9, 2022 at 8:31 am #671109Thanks so much
November 7, 2022 at 1:50 pm #670892i don’t know why we have to add bank charge and 4200 twice as two of these are credited to cash book(it means we have to deduct it)
thank youOctober 15, 2022 at 11:36 am #668676thank you so much
October 14, 2022 at 5:15 am #668568thanks a lot
October 14, 2022 at 5:13 am #668567can the tutor help darina pls because this question also confuses me
thank youOctober 13, 2022 at 10:15 am #668510i think OVERDRAFT is a liability so the LODGMENTS( income) have to subtract OVERDRAFT(liability) and subtract UNPRESENTED cheques => the balance will NEGATIVE and it will be credited right??
And is overdraft and overdrawn the same?
October 13, 2022 at 10:12 am #668508sorry can you explain me why when the bank statement is an overdraft , we have to subtract lodgments and add unpresented cheques
and can how can we adjust the above case that is corret without adjustments.
October 13, 2022 at 9:54 am #668507(iv) The bank has credited the account in error with $425 which belongs to another customer is the error of cash account or bank statement sir ?
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