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Paper June 2013 question (a) CLARION sum
under invt income calculation they have added dividends received and profit or loss $0.5m
i cannot understand from where did they get this amount ????
information that they provided is-
there is an invt which had carrying amt of $1.4m and sold for $1.6m so the profit will be $0.2m and how did they get rest $0.3m as dividends received ????Could it have something to do with the last sentence in point (iv) in the question (June 2015!)
“Investment income in the trial balance above includes the profit on the sale of the investment and dividends received during the year.”
It’s in the trial balance in the question, second figure up in the credit column, opposite the narrative “Investment income (note (iv))”
OK?
Am so sorry I did not c but why did they ignore this calculation carrying amount of $1.4m and and sold for $1.6m =$ 0.2m vl b profit this amount they have not considered any where
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