[priyashju30]

Thank you sir 🙂

[priyashju30]

Hi
for SBl is it enough if we study OT notes and BPP revision kit ? will i be able to clear it ?

[priyashju30]

Hi
passed my ATX paper with 64 marks in first attempt !!

[priyashju30]

Hi

I passed in first attempt (71%) .Thank you for your lectures it was a great help 🙂

[priyashju30]

Hi sir

But in bpp revision kit .

question no. 243 .
Jarvis owns 30% of mclintock . during the year to 31dec2014 mclincktook sold 2million of goods to jarvis of which 40% were held in inventory by jarvis at the year end . mclintock applies a mark up of 25% on all goods sold .

what effect would the above transactions have on group inventory at 31dec2014 ?

Ans as per BPP kit : no effect on group inventory and entry is
Dr share of profit
cr investment in associate

But it has a effect on group inventory right ?

[priyashju30]

Hi sir

it is from BPP revision kit question no. 107

[priyashju30]

Hi sir
plz can you whats the journal entry for this question ?

[priyashju30]

Present value of future cash flows -25000
Initial payment at commencement of lease -2000
Right is use asset value -27000
cash payment at commencement of lease (2000)
lease liablity -25000
Int at 10 %-2500
payment in arrears-30/09/2014-(6000)
liablity b/f 1/10/2014-21,500
int at 10%–2150
payment in arrears 30/09/2015-(6000)
lease liablity c/f 1/10/2015- 17,650
Int at 10%-1765
payment in arrears 30/09/2016-(6000)
lease liablity c/f -1/10/2016-13,415

therefore non current liability for 30/09/2015 is it 13,415 ?

[priyashju30]

Opentuition lectures and BPP practice kit helped me to clear the exam .

[priyashju30]

Thank you sir 🙂

[priyashju30]

Hi sir
I’m sorry i don’t get it . please can you explain how ans is 1st august , 2017

Please sir

Thank you

[priyashju30]

Thank you so much

[priyashju30]

Thank you sir for your reply .

For eg. renovation of a freehold property ?is it allowed expenditure under trading if a freehold property is sold ?

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