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  • This topic has 7 replies, 3 voices, and was last updated 6 years ago by John Moffat.
Viewing 8 posts - 1 through 8 (of 8 total)
  • Author
    Posts
  • April 8, 2015 at 1:12 pm #240512
    rinku
    Member
    • Topics: 7
    • Replies: 15
    • ☆

    Hi John,

    On the above question, we’ve been asked to forecast the P/L and balance sheet. As per the question, the short-term borrowing will be the balancing figure. However, I cannot get the balancing figure until I have the reserves for the year, and I cannot have the reserves amount until i have the profit for the year. And to arrive at the profit, I need to know the net interest payable for which i need to know the short-term loan amount(which is the balancing figure) to consider its interest.

    I don’t know if i am missing anything on the question, could you please help me on this?

    Thank you.

    April 9, 2015 at 4:31 am #240593
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51551
    • ☆☆☆☆☆

    anoopej is correct 🙂

    April 9, 2015 at 8:01 am #240610
    rinku
    Member
    • Topics: 7
    • Replies: 15
    • ☆

    @anoopej thank you for the answer 🙂

    Thanks John for confirming.

    April 9, 2015 at 10:06 am #240629
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51551
    • ☆☆☆☆☆

    You are welcome 🙂

    February 6, 2016 at 2:08 pm #299493
    Shaili
    Member
    • Topics: 1
    • Replies: 2
    • ☆

    Well i have d same problem. But i cant find anoopej comment.

    February 6, 2016 at 4:28 pm #299515
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51551
    • ☆☆☆☆☆

    I don’t know what has happened to anoopej’s comment 🙂

    Note (vi) says that interest is effective in the following year.
    So the interest payable each year is based on the amount owing at the end of the previous year.

    February 8, 2016 at 2:40 pm #299709
    Shaili
    Member
    • Topics: 1
    • Replies: 2
    • ☆

    Ahhh!! Thanku for shedding lights on that point, John..?

    February 9, 2016 at 8:46 am #299780
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51551
    • ☆☆☆☆☆

    You are welcome 🙂

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