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ruby67

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Active 10 months ago
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Viewing 8 posts - 1 through 8 (of 8 total)
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  • December 17, 2020 at 10:43 pm #600211
    c29c93e2acdc0bf81650852336556f3745f1e076b323e38ada4be6b0d2c93209 80ruby67
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    @farheenu i used the high-low method to determine the fixed and variable costs then increased fixed cost by 5%, variable cost by 10% as stated in the question.. i can remember i got old variable cost as 70, new as 70*1.1=77

    increased all other costs by 5%

    December 12, 2020 at 11:34 am #599675
    c29c93e2acdc0bf81650852336556f3745f1e076b323e38ada4be6b0d2c93209 80ruby67
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    @qwert443 yes, I’m referring to the revaluation.. did you do the transfer??

    I didn’t make any adjustment in operating expenses, thought I read depreciation expenses had been correctly included.. felt weird tho, might be wrong

    I think the exam generally is tough and it felt like bait was set everywhere

    I got 1280 in the aircraft question too, thought I was wrong in the exam but didn’t recompute cause of time pressure

    December 11, 2020 at 9:13 pm #599592
    c29c93e2acdc0bf81650852336556f3745f1e076b323e38ada4be6b0d2c93209 80ruby67
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    @qwert443 @pjashu1995
    did you do transfer of excess depreciation to retained earnings in SOCE/OCI??

    December 11, 2020 at 5:18 pm #599494
    c29c93e2acdc0bf81650852336556f3745f1e076b323e38ada4be6b0d2c93209 80ruby67
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    @qwert443 the note was specific about the dividend, it’s for the preference shares.. so it should be finance cost.. I was so confused about it in the exam.. settled for SOCE

    I can only recall it was mentioned somewhere in the note that depreciation has been correctly included in operating expenses, why I didn’t do extra depreciation.. might be wrong

    I can’t recall the note on loan, I must have missed the interest being for the whole year.. used 1800 in finance cost.. but my finance cost is wrong already cause I didn’t include the dividend


    @pjashu1995

    the proceeds from sale was $6m; FV of NCI @ acqn $1.2m; post acqn profit as at disposal date (3m+2m*9/12)=4.5m; SC and retained earning at acqn 1m and 1.3m i.e. Net asset @ acqn is $2.3m; FV of consideration 3m

    I did Proceeds + NCI @ disposal – Net Assets @ disposal – Goodwill @ acqn (no impairment)
    =6m+(1.2m+20%*4.5m)-(2.3m+4.5m)-(3m+1.2m-2.3m) = -0.6m (loss on disposal)

    December 11, 2020 at 12:58 pm #599421
    c29c93e2acdc0bf81650852336556f3745f1e076b323e38ada4be6b0d2c93209 80ruby67
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    @Pjashu1995 I mistakenly divided the 500,000EUR by fx for the second one.. time had gone before I realized the rate was 1EUR=$$

    got same question for section C.. got loss on disposal of 0.6m, found it difficult on the CEO’s comment cause there was reduction in profit and revenue while Gross profit margin increased.. it was difficult connecting together

    I computed 1,500 for the share premium which I deducted from revenue, there was 1 for 4 rights issue correctly included in the share capital.. in SOCE, used 12,000 for opening share capital, 3000*$1 for share issues in share capital and 3000*$0.5 for share issues in share premium.. wrongly included dividend paid in SOCE instead of finance cost

    December 11, 2020 at 9:26 am #599350
    c29c93e2acdc0bf81650852336556f3745f1e076b323e38ada4be6b0d2c93209 80ruby67
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    Jovita885 wrote:and for the 9m included in cost of sales for agency sales, did you minus it from cost of sales?(for the last question which included agency sales)

    I subtracted it from cost of sales

    December 11, 2020 at 8:55 am #599352
    c29c93e2acdc0bf81650852336556f3745f1e076b323e38ada4be6b0d2c93209 80ruby67
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    yea.. minus it from cost of sales

    December 11, 2020 at 8:55 am #599351
    c29c93e2acdc0bf81650852336556f3745f1e076b323e38ada4be6b0d2c93209 80ruby67
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    anyone got the foreign exchange questions in section B.. please did you multiply or divide the 750,000EUR by the closing rate?? and the 500,000 EUR in the second question

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Viewing 8 posts - 1 through 8 (of 8 total)

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