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Sir here in this question in solution they have shown gain on financial asset equity investment of 800 seperately , but instead of showing it seperately, can we add it in investment income of 300? Hence showing investment income as 1100
Hi, For the same question, I am using Kaplan exam kit. Shouldn’t be the loan in substance reported in the section “Cash flow from financing activities” for $3M?. Per the Kaplan answer is not included.
Thanks,
M
@maxpopper said:
Sir here in this question in solution they have shown gain on financial asset equity investment of 800 seperately , but instead of showing it seperately, can we add it in investment income of 300? Hence showing investment income as 1100Hi,
i believe that this would be acceptable but given that it has been done this way in the model answer then I’d follow that in future similar scenarios. I presume that it is a material amount and so is being disclosed separately.
Thanks
@m.a.w said:
Hi, For the same question, I am using Kaplan exam kit. Shouldn’t be the loan in substance reported in the section “Cash flow from financing activities” for $3M?. Per the Kaplan answer is not included.Thanks,
M
Hi M,
Is this the same question? The exam question did not require a statement of cash flows to be prepared.
Thanks
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