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- This topic has 6 replies, 2 voices, and was last updated 8 years ago by John Moffat.
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- October 27, 2015 at 6:18 am #279166
X and Y are in partnership sharing profits and losses equally. The following information was extracted from their financial records at 31 December.
interest on capital – X 1300
………………………..– Y 1100
salary………………. – Y 4000
The profit for the year was $24200.
What was Y’s share of the residual profit?
A $8900
B $10200
C $12900
D $14000
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Can’t really figure out the route to the answer. Moreover the salary part is confusing, help please.October 27, 2015 at 7:30 am #279183Nevermind, I reached the answer now 😀
Thankyou anyway 🙂October 27, 2015 at 9:23 am #279219Partnerships are not examinable in Paper F3. They were removed from the syllabus a long long time ago!!!
October 27, 2015 at 7:37 pm #279316I guess I’m doing an exam kit based on an old syllabus?
It’s BPP 2010
Are there any other omitting or adding I should do when relying on this exam kit?
(Although I plan to do a more latest exam kit after I finish this one)October 28, 2015 at 7:43 am #279357A lot has changed since 2010 – you need to look at the syllabus on the ACCA website.
You must get a new Revision Kit quickly – the syllabus has changed, the terminology has changed, and the format of the exam has changed.
If you watch our free lectures then they are a complete course for F3 and cover everything you need to pass well (and are up-to-date!!). But you must practice questions from a current edition of the Revision Kit.
October 31, 2015 at 5:12 am #279743Ohkay… Yes I am done with open tuition lectures and notes 🙂 thanks 🙂
October 31, 2015 at 8:54 am #279773You are welcome 🙂
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