F7 Jun 2013 Q1

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May 30, 2014 at 2:29 am #171796
zhaoyunyi
Member
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Dear Mike,
In this Paradigm question, P issued a loan note for S but has not been recorded.
So I wonder when we do W3 Cons Ret Ears, why we do not deduct the $75000(half year extra interest) interest charge from P’s REs?
Thanks
May 30, 2014 at 1:06 pm #171906
MikeLittle
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I can’t see anywhere in the question that says that the loan interest has not been paid and properly recorded.

I can see that the question says that the loan note issued has not been recorded, but there’s nothing to suggest that the interest has not been recorded!

OK?
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