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Partnerships

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Partnerships

  • This topic has 6 replies, 2 voices, and was last updated 9 years ago by John Moffat.
Viewing 7 posts - 1 through 7 (of 7 total)
  • Author
    Posts
  • October 27, 2015 at 6:18 am #279166
    rafayazhar
    Participant
    • Topics: 53
    • Replies: 153
    • ☆☆☆

    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
    __________________________________________________________
    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 #279183
    rafayazhar
    Participant
    • Topics: 53
    • Replies: 153
    • ☆☆☆

    Nevermind, I reached the answer now 😀
    Thankyou anyway 🙂

    October 27, 2015 at 9:23 am #279219
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54699
    • ☆☆☆☆☆

    Partnerships are not examinable in Paper F3. They were removed from the syllabus a long long time ago!!!

    October 27, 2015 at 7:37 pm #279316
    rafayazhar
    Participant
    • Topics: 53
    • Replies: 153
    • ☆☆☆

    I 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 #279357
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54699
    • ☆☆☆☆☆

    A 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 #279743
    rafayazhar
    Participant
    • Topics: 53
    • Replies: 153
    • ☆☆☆

    Ohkay… Yes I am done with open tuition lectures and notes 🙂 thanks 🙂

    October 31, 2015 at 8:54 am #279773
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54699
    • ☆☆☆☆☆

    You are welcome 🙂

  • Author
    Posts
Viewing 7 posts - 1 through 7 (of 7 total)
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