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IAS7 (Chapter 8) – Example 3

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › IAS7 (Chapter 8) – Example 3

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  • June 21, 2018 at 10:26 pm #459670
    selogilweg
    Participant
    • Topics: 1
    • Replies: 1
    • ☆

    Why is the opening balance for Payable on the answer stated as 67 and not 70. Also the closing figure are different. Extract is showing 85 and the answer 90

    June 22, 2018 at 9:44 am #459694
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7065
    • ☆☆☆☆☆

    Hi,

    Thanks for spotting this. Yes, the opening balance should be 70, the closing 85 and then the movement would then be 12.

    I’ll update it in the next set of class notes.

    Thanks

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