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yea, i do watched it through. Maybe i missed some of what you talked about. Anyway thanks!
i did watch it through 2 days ago but i completely forgot about it…im truly sorry about it…
I should have check the lecture again before posting, again im so sorry…i mean like aside from cancel out the dividend received from in SOPL, do we need to do anything in SOPL or SOFP or anything other than those 2 again?
Just want to double confirm
1. Capital employed = Total assets – Current liabilities OR Total equity + Non-current liabilities
2. Total equity = Total assets – Current liabilities – Non-current liabilities
Am i right for both statement?
Hi, John. I have watched your vid about the disposal but currently the project that my teacher assigned to me needs the fixed assets to transfer to inventory, as in the fixed assets are ready to be sell, but no buyer at the moment. So we just inventory the fixed assets. I would be glad if you could check to see if there are any error in my journal entry or financial statement. Link: https://imgur.com/a/x2eru5S
In this project, im acting as a owner as the new opening real estate company. For the first year, all the houses are for rent, and 2 of the houses are to be transfer to inventory for sales at the end of the year. No buyer at the moment.
1. The 2 and 3 requirement is the one im struggling with. Which requires me to reclassify the fixed assets to inventory. Then one of the inventory(house) has NRV 10% lower than normal price, so i assume that we must write off the excess amount.
2. As you can see i have 2 working for SOCF which i dont know whether which is wrong or correct. BUT, i watched your video about SOCF, and i realized that the “increase inventory” under operating activities should be (3000) as per SOFP stated, but using (3000) will make the cash equivalent not tally which is weird.
ACCA probably don’t have this in exam but my teacher assigned this to me as project. I apologize in advance if this isnt the place to ask this question.
i just realised i have not watch those 3 parts of SOCF which you linked me to, what i watched are from FR if im not mistaken, although i dont know whether there is a difference for SOCF between FA and FR.
Thanks anyway SirPlease link me to the video, i think the video im watching is not the same as yours
@John Moffat ok i will watch it. So the correct answer would be
accum depreciation = 1000 + 2000 = 3000
Carrying value = 10000 – 3000 = 7000
7000 – 5000 = 2000 LOSSis that right? Also just in case you are wondering, this is not an exam question, i made this question myself so you are free to answer it.
ah okay
but how?
how can a bank be overdraft and still remain some money in there?
doesnt overdraft already mean the bank has 0 money and you lend some money from bank, thus overdraft?thanks, i got it now. Btw where can i access your lectures?
My lecturer is so bad and i got so confusedto be honest, im still kinda confused about this share capital topic. Take the question i wrote above for example. Does that mean that:
That company issues 100,000 ordinary shares to public at $1.20 per share. Then 100,000 ordinary shares are bought by the public and the buyer become the company shareholder, AND the company received $120,000 from those “new shareholder”. Thus this $120,000 is consider the capital/equity of the company. Is my understanding for this correct?
Another question, when a company issues 100,000 ordinary shares at $1.20, WHAT exactly is the “100,000” ordinary shares? It doesn’t have a $ symbol which indicates it is not a money value. Then what is it? Is it a physical items like 100,000 units of contract paper?
Sorry im so confused…
sry, the post kinda messed up. The 120,000 is actually on Cr side AND issued share capital has no Dr or Cr
