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December 2014 MCQ question 19

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › December 2014 MCQ question 19

  • This topic has 3 replies, 2 voices, and was last updated 10 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • June 1, 2015 at 1:47 pm #251327
    Karina
    Participant
    • Topics: 6
    • Replies: 16
    • ☆

    Dear Mike,
    I don’t understand the question 19 in the December 2014 MCQs.

    Total charge to P/L
    I am ok with: 18000*9/12 = 13500
    I am ok with: (340000-90000)*10% = 25000

    But I understand this one: 340000 / 5 years = 68000 .
    Why should I charge this amount to P/L?

    And then, may be I am mixing different issues, but when I calculate like this, just to check the total calculation for this transaction:
    Value of plant less 1st installment: 250000
    10% interest 25000
    2nd installment (90000)
    Amount outstanding 275000
    3rd installment (90000)
    ….
    and so forth, I don’t manage to get the total of $ 450000 (5 equal installments of 90000). Why?

    June 1, 2015 at 3:03 pm #251339
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23315
    • ☆☆☆☆☆

    Depreciation?

    In real life, it would come right. But this question is not asking you for the five year profile – it just wants to know the expense to the profit or loss account for the year.

    In the exam room don’t profile it through to the end and then start worrying about why it doesn’t come right. That would achieve two bad points – 1) you start worrying about it (and that’s not a good thing to start in the middle of an exam) and 2) you’re wasting valuable time arriving at a solution that is then going to start you worrying!

    June 1, 2015 at 8:25 pm #251663
    Karina
    Participant
    • Topics: 6
    • Replies: 16
    • ☆

    Thank you!
    Depreciation! I see now.
    In the exam, the problem is that I’m not 100% sure of what I am doing and I’m always to trying to double check. Indeed, I am wasting a lot of time…

    June 1, 2015 at 11:35 pm #251722
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23315
    • ☆☆☆☆☆

    Well, now you know what you’re doing wrong, do something about it! It’s in your hands (or, probably more correctly, it’s in your head)

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