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December sample question 4

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › December sample question 4

  • This topic has 1 reply, 2 voices, and was last updated 5 years ago by Stephen Widberg.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • February 29, 2020 at 1:04 pm #563547
    Ibra@2605
    Member
    • Topics: 5
    • Replies: 2
    • ☆

    Guidance buys back its shares for cash and cancelled the 25M shares at $1.20 per shares.

    Logically the double entry is
    Dr equity 30
    Cr cash 30

    In the answer it appears that equity and assets has increased by 30m.

    Please advise.

    February 29, 2020 at 7:08 pm #563586
    Stephen Widberg
    Keymaster
    • Topics: 16
    • Replies: 3408
    • ☆☆☆☆☆

    Redemption has already been accounted for.

    Question is asking what ratios would have been like if we ignored the effect of the share redemption.

    Horrible!

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