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Colvin co. Sep/ Dec 2020 sample

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA AFM Exams › Colvin co. Sep/ Dec 2020 sample

  • This topic has 3 replies, 2 voices, and was last updated 9 months ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
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    Posts
  • September 4, 2021 at 10:47 am #634252
    surajsusheel
    • Topics: 9
    • Replies: 6
    • ☆

    Hi John,

    The land and building is increasing by 30%, why arent we adding this to the operating cash flows to find the taxable profit since this is appreciation?

    September 4, 2021 at 12:13 pm #634278
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 49583
    • ☆☆☆☆☆

    The question says that it is tax exempt 🙂

    September 4, 2021 at 3:27 pm #634293
    surajsusheel
    • Topics: 9
    • Replies: 6
    • ☆

    if the question didnt say that, we would add it right? to find the taxable profits

    September 4, 2021 at 3:53 pm #634309
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 49583
    • ☆☆☆☆☆

    No, you would calculate the balancing charge or allowance in the final year by taking the difference between the sale proceeds and the tax written down value (as we did in Paper FM, was F9).

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