[muhammadhossam]

Thanks a lot for your help but what you have just said applies to sales system too

Dr Receivables
Cr Sales

And yet in the test of controls Rights and obligation assertion is not included

Thanks

[muhammadhossam]

Thanks a lot for your quick reply but if that was the case then why in The BPP book it applies the right and obligation assertion to the purchase system it should have applied it to the liabilities balance only,,,,,Thanks

[muhammadhossam]

please can anyone help me with this issue thanks

[muhammadhossam]

Please help me i don’t understand this point

8% loan note is $2 million ($50 million x 8% x 6/12).and then pre-acquisition ((21 million + 2 million interest) x 6/12)………..why we multiplied it twice to me the pre acquestion is equal only 12500 (21000 * 6/12)+ ($50 million x 8% x 6/12).=12500

Thanks

[muhammadhossam]

Dear sir

I am confused about those issues two can you help me

Thanks

[muhammadhossam]

i was a bite confused but thanks a lot now i can see the difference

[muhammadhossam]

Please I want to know the accounting treatment for that kind of goodwill should it goes to Income statement …Thanks

[muhammadhossam]

Thanks a lot for your replay and your help But where have you recorded it i cannot find it i am so sorry but i am new to opentuition……Thanks again

[muhammadhossam]

Ya I appreciate what You do but i am going to have my exam in F7 and this point is very hard to understand

[Author]

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