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Thank you so much sir..
sir another question.. how can I value WIP?? is there any lecture in opentuition relating to this topic??Thank u for your reply.
Sir I have a dream to do ICAEW .I will get exemptions there,if i take p6 here.Am i right ??Ans :
Use 3600 x 20% = 720
Gift current MV 1000
or ,original vakue 3600
Less : 14/15 .720 x 5/12 (300)
15/16 (720)2580
The greater ammount is taken 2580
Total benefits 15/16 (720+2580) = 3300why the add up 720 in calculating total benefits ??
John is employed by Z plc at a salary of 35000 a year.He was provided with a computer for private use on 6 Nov ,2015.The MV of the computer when first provided to an employee for private use was 3600 and the computer had a market vakue of 2000 when first provided to john for private use .Z plc gave the computer to john on 5 april ,2016 when it had a MV of 1000.
What are the taxable total benefits for John in respect of the computer for the tax year 2015/2016 ??I am successful on first attempt..64 %
Thank u so much John Moffet .. Ur contribution played a huge role to my study and to my success .. U r a hero !!! <3 <3the question was weird .. it had no option as 20% .. actually mcqs was bit taugh.. bt written was good.
actually i followed ur revision kit live lecture doing this calculation .Anyway ,again very kind of you sir.God bless you.
if i do not understand i won’t remember .. i was actually looking for a short cut revision of written section..bcz i am very much a lover of mcq as opposed to it i hate written questions, they r so enormous and boring.. 🙁 i m a poor guy in this aspect 🙁
thank u sir..yes i watched all ur lectures ,but i watched them 3months ago and i tend to forget everything very quickly 🙁
now I understand.. jst tell me how should I account for this prepayment in the SFP?
Sorry I forget to post the requirement..
Here it is..
Show the accounting entries in the financial statements of the lesses for the year ended 30june 2008.