*** ACCA F7 March 2018 Exam was.. Instant Poll and comments ***

There was a question with $50,000 and $37,000 as options – what was the correct answer?

@beloslava said:
i did everything in the spread sheet, yes; where else could you do it? i thought the notepad thing is for me only and nobody reads it..

I did it in the spreadsheet too, but I just found it weird trying to write proper sentences over the cells! Maybe that was just me! ?

@beloslava said:
i literally had 4 minutes to write the comments so the sentences were kinda’ short… but if you have a “wordy” question, excel doesn’t seem the right place to answer it, i guess…i might face that problem tomorrow as i have F5 to sit….

Good luck with F5, you’ll be fine! I’m not brave enough to try 2 in one sitting!!!

@colmjulian

I seems that the exam were kind of mixture. I am looking at your comments, I had Tice Brand and impairment on the paper based exam too, also the ratio to comment (question 31 – gross profit, operation profit margin and interest cover for 9 marks), but no exchange, no ROE. I calculated the interest cover of Perkins in 20X7, like many times above in 20×6 and my comments were that it seems they paid off some substantial interest-bearing debt or Swanson was more geared company. Some like that by anybody else?

I didn’t see any gearing information in the question
Can anyone remember any more MCQs that they think they got right ?

@erika21 said:
I can recall an MCQ with revaluation of property and how should it be apportioned: I chose Cr GW 70,000, Dr PPE 56, Dr RE 8.4, Dr NCI 5.6, I hope that were the figures.

I remember getting a similar answer for an MCQ.

How did you calculate the new rental income? What gain did you get in part a? My gain was much below 9, 440? I think I didn’t get the question properly.

there was that one sentence in the question that they had a property previously used by the disposed subsidiary for free, that now they lease to somebody and probably receive interest. May be that interest income makes the finance cost smaller, so the interest ratio goes up… because we only had information about their finance cost from the PL statement…

that “gain on disposal” thing was something like a blur to me at the begining… i calculated good will on aquisition first, so i could deduct it from the disposal proceeds along with the net assets) and then that 9440 (it looked like it was the difference between disposal proceeds and net assets only)- removed it from operating expense…
i am not sure that the calculations are right, neither that this is at all the right aproach… i sort of improvised… didn’t have much time to doubt myself…

Operating cycle was 57 days i guess

Inventory 5times = 365/5= 73 days

= Inventory+receivables-payables yea?

I calculated GW as well and calculated PL result for Swanson up to sept 20×7 and added to initial consideration. My gain wad about 2m.

sounds about right…mine was something like that

how about q32?