[sharjeelbhatti]

Result = Absent. i dont know what happened

[sharjeelbhatti]

I did the same for the question with self interest threat

[sharjeelbhatti]

Anyone remember the MCQ question of subsequent event? In that question the first case was about financial difficulties faced by the company. And I didn’t remember the second case…anyone remember?

[sharjeelbhatti]

did anyone got Consolidate SOFP question in Section C?

[sharjeelbhatti]

A company invests $5,000 in 10% loan notes. The loan notes are
repayable at a premium after 3 years. The effective rate of interest
is 12%. The company intends to collect the contractual cash flows
which consist solely of repayments of interest and capital and have
therefore chosen to record the financial asset at amortised cost.

What amounts will be shown in the statement of profit or loss and statement of financial position for years 1-3 ?

Sol:

y1 Non current assets: 600

y2 Non current assets: 612

y3 Non current assets: 625

in kit solution it the investment income is treated as non cuurent assets in SOFP. why is this so?

[Author]

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