Hello Sir,
In June 2015 13th Question (mcq)
How do we get 13.5years???(10800/13.5)
In dec 2014 section b
1st Q
Why we are not using impairment value in NCI and Retained Earnings and in the same Q In the sofp under CAs in the Trade Receivables -400 and in the bank +400 should be like this rgt???
So why they are under CLs in Trade payables (-400)and bank(-400)
In dec 2012 under net assets of subsidiary Retained earnings why they are adding 35000+6200*3/12.It should be 35000-6200*3/12.
In the same Q why they are not using the value of impairment in Goodwill.
Pinky
Ask the Tutor ACCA FR
Doubts
And why are you asking 5 separate questions in one post when, for each one, I have to go and look up the question - it's difficult enough answering on an iPad without having multiple questions in a single post :-(
I'll deal with them one at a time as I arrive back from researching the question by downloading the relevant exam
Hold on - I'll be right back
June 2015 mcq 13 - a $12,000 asset, when originally bought, had an estimated useful life of 20 years.
$12,000 divided by 20 years means depreciation of $600 each year.
At the START of the year in which the asset was revalued, there was accumulated depreciation of $3,600, so that represents 6 years' worth of depreciation as at the start of the year.
It was revalued half way through the 7th year so, at that date, there was a remaining useful life of just 13.5 years
OK?
I see nothing in question 1 of part b in the December 2914 exam that could possibly be related to ncis! Please check your reference
I presume that there is $400 cash in transit ...... but it certainly isn't in question 1 of the part b of the December 2014 exam!
Because the $35,000 is (in bold, within the question) as at the start of the year
What do you mean "they are not using the value of impairment in goodwill"? According to my version of the printed solution, the $2,000 impairment in goodwill is included within administrative expenses!
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