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Hello Sir,
I have a question from Kaplan Exam kit named ETHEL there is a transaction :
Business started 6th April 24 to 5th Mar 25
On 1 June 2024, Ethel paid a car dealer £14,000 by cheque for a car with CO2 emission of 40 grams per kilometre. She also made totalling £3,000 related to running costs of the car for the year. She had used the car 40% of the time for private purposes and she drove 11,000 business miles during the year.The requirement is to calculate Trading Profit under ACCRUAL basis….
My question is only while calculating the capital allowance on Car:
14000*18%*10/12 *60% = 1,260But the examiner did not apportioned it with month
14000*18%*60% = 1,512Why?? We apportion it by months to get Closing TWDV in every pool when its required. But in this situation why we did not computed?
Hello Sir,
I have a question from Kaplan Exam kit named ETHEL there is a transaction :
Business started 6th April 24 to 5th Mar 25
On 1 June 2024, Ethel paid a car dealer £14,000 by cheque for a car with CO2 emission of 40 grams per kilometre. She also made totalling £3,000 related to running costs of the car for the year. She had used the car 40% of the time for private purposes and she drove 11,000 business miles during the year.The requirement is to calculate Trading Profit under ACCRUAL basis….
My question is only while calculating the capital allowance on Car:
14000*18%*10/12 *60% = 1,260But the examiner did not apportioned it with month
14000*18%*60% = 1,512Why?? We apportion it by months to get Closing TWDV in every pool when its required. But in this situation why we did not computed?
Ok Sir , I’m sorry for that.
But kindly clear my point.
If a floating charge is registered does not it means that it is under Negative Pledge Clause ?
Because if floating charge registered under Negative Pledge clause it will take priority over fixed charge.
I am confused about either its a simple Registration of floating charge or a Negative Pledge Clause ?Sorry , I made a mistake in writing question.
Its a Crums Ltd company which borrowed money from these parties and made transactions .DELETED
Student please note that you should post to the most suitable forum and start a NEW thread for a new question rather than add it on to an existing post (unless of course it relates to the same question). Your duplicate question has been answered.
Hy ! Kindly help me in this question
A company has two-month receivables cycle. It receives in cash 45% of the total gross sales value in the month of invoicing. Irrecoverable debts are 20% of total gross sales vale and there is a 10% discount for settling accounts within 30days.
What proportion of the first month’s sales will be received as cash in the second month?
Answer is : 30%
Explain me how?Hy Sir can u tell me the formula to calculate the Profit attributable to Parent company in P/L.
Hello sir, Kindly give me explanation to this question
On 1st January 2008, Wootton Ltd has a building in its books at cost $380,000 , net book value $260,000.
On 1st July 2008, the asset is revalued at $450,000 and Wotton wishes to include that revaluation in its books. Wootton’s accounting policy is to depreciate buildings at 3% straight line. The depreciation charged to the SOCI is?
Ans: $12,450 it is the correct answer.
Kindly solve it with explantion how to do…ThanksHey Sir,
In this question Newell’s receivables ledger account shows a balance at the year end of $58,200 before making the following adjustments:
1- Newell wishes to write off debts amounting $8,900 as he believes they are irrecoverable.
2- He also wishes to make specific allowance for Carroll’s Debt of $1,350 and Juff’s Debt of $750.
3- He also wishes to maintain general allowance of 3% of the year and receivables balance.Newell’s allowance for receivable at the year end was $5,650
What is the charge to the Income Statement?
Kindly answer me
