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F1 group account – unrealised profit workings PUP

Forums › Ask CIMA Tutor Forums › Ask CIMA F1 Tutor Forums › F1 group account – unrealised profit workings PUP

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  • January 26, 2017 at 7:16 am #369611
    mwenyarobby
    Member
    • Topics: 4
    • Replies: 1
    • ☆

    Please assist me with the workings for unrealised profit (example) working PUP as the screen is cut out and can’t figure out how the 10 was arrived at.

    thankyou

    January 26, 2017 at 8:31 pm #369849
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7060
    • ☆☆☆☆☆

    The mark up is 20%, so we take 20/120 of the $120,000. This gives $20,000 but don’t forget that there are only half the goods left at year-end so we take half of this to give the $10,000.

    You should be able to find the answer in the back of the class notes too.

    Thanks

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