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Angel Group P2 2013 dec

This topic has 1 reply, 2 voices, and was last updated 11 years ago by MikeLittle.

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May 23, 2014 at 6:39 am #170247
Eric
Member
- Topics: 1
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Hi,
I trying to have my practices on the past real exams, and I am reading the 2013 Dec exam answer for first question Angel group, and the first adjustment is really causing the headache.
Anyone got any idea how the 3m retained profit comes from?
My W1 for the first adjustment was:
Dr PPE $7m
Cr Cash $3m
Cr OCI $4m
why this is incorrect?
Thank you very much
May 23, 2014 at 11:14 am #170288
MikeLittle
Keymaster
- Topics: 27
- Replies: 23327
There seems to be a lot of “3”s in this question. Can you give me a clue which paragraph in the question you are referring to or which working in the printed solution you are not understanding?
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