- This topic has 0 replies, 1 voice, and was last updated 13 years ago by
.
Viewing 1 post (of 1 total)
-
Posts
-
Hi there,
I am doing Q1 Revised and it say that “Joe was provied with free loan of £120000 on 1st May2012. He repaid £50000 on 31 July 12 andpaid the balance of £70000 when he ceased employment with company on 31st Dec 12.
To calculate the benefit using the average method the answer is (120000+70000)/2
My question is why 70000 not 0 as at the end of his employment the balance outstanding is 0 not 70000?
thanks for your help.Beata
Viewing 1 post (of 1 total)
- You must be logged in to reply to this topic.