[thulasikaur]

It’s motivating to see those who passed the exam. It would be really helpful if you guys share us some tips or way to pass SBR along side using OPEN TUITION. Example, after watching OT lecture video what was the next step or did y’ll rewatch again?

Pls share the tips
Thank you.

[thulasikaur]

Hi, pls share some study tips for AFM. Doing the revision kit and Past papers itself enough to pass this paper? Is there any memory work to be done?

pls, help! Not sure where I’m slacking off

[thulasikaur]

Thank you Sir ! finally passed FM with your guidance.

[thulasikaur]

Hi sir, regarding the BPP question above,

Why they did not do adjustment for the cash in transit?

[thulasikaur]

Hi sir, this is the question from BPP..

Platt Co has owned 60% of the issued equity share capital of Serpi Co for many years. At
31 October 20X7, the individual statements of financial position included the following:

Platt Co Serpi Co
$ $
Current assets 700,000 500,000
Current liabilities 300,000 200,000

Neither had a bank overdraft at 31 October 20X7.

During the year ended 31 October 20X7, Platt Co made $100,000 sales on credit to
Serpi Co. Serpi Co had one-quarter of these goods in inventory at 31 October 20X7.
Platt Co makes a 20% gross profit margin on all sales.

On 31 October 20X7, Serpi Co sent a cheque for $50,000 to pay all of the outstanding
balance due to Platt Co. Platt Co did not receive this cheque until 2 November 20X7.

Platt Co’s policy for in-transit items is to adjust for them in the parent company.
In respect of current assets and current liabilities, what amounts will be reported in

Platt Co’s consolidated statement of financial position at 31 October 20X7?

Answer: Current assets $1.195 million and current liabilities $0.5 million

[thulasikaur]

Hi Sir, how about the $20000 inventory ? why they did not deduct

[thulasikaur]

congratulations! PLS share your tips..Thank You.

[Author]

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