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bank

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › bank

  • This topic has 2 replies, 2 voices, and was last updated 2 months ago by xyzc.
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  • January 25, 2023 at 10:53 am #677346
    xyzc
    Participant
    • Topics: 363
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    • ☆☆☆

    If there is bank interest debit balance on the trial balance, then why would it be adjusted. Why would it appear on the income statement. Why would the debit balance appear as the finance costs for the current year

    January 26, 2023 at 8:43 pm #677426
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6501
    • ☆☆☆☆☆

    There must be something in the question whereby the adjustment results in one to the finance cost.

    January 29, 2023 at 8:52 am #677553
    xyzc
    Participant
    • Topics: 363
    • Replies: 132
    • ☆☆☆

    The question does not say anything about the bank interest balance on the trial balance

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