- July 25, 2022 at 8:42 pm #661842
Dear Chris, I hope you are doing well. I wanted to focus your attention to error in question of SOCIE in which you guide us how to go through the software and use it. It was really effective and helpful video.
The error is made in revaluation reserve figure , Please look at 22:00 in the video and the revaluation reserve amount should be = Revalued value – Carring value at the date of revaluation
But you took the Historical Value of Land and building which is 1 july 20×7 insted of Carring value at 1 july 20×7.
This is how i done it and please correct and forgive me if i misunderstood and annoyed you for my misinterpretation.
(‘000) Narrative HC revaluation Reserve
L&B (1.7.20×2) 5,500
Accu. Dep. (1.7.20×7) (500)
C.V 5,000 -> 6000 1000
Dep ( 31.7.20×8) (120)
CV ( 31.7.20×8) 8,880
Thank you for your friendly lectures and unmeasurably helpful exam tips and references to exams for every topic explained. I had been running late behind the syllabus and i had planned a schedule and finish it 3 weeks before exam and leave 3 weeks for Exam kit. Always open for your advice.July 26, 2022 at 6:51 am #661875tabasumzeParticipant
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The above calculation is correct except for the carrying amount as at 30.06.20X8 is 5,880,000 and not 8,880,000.
Thank you for noticing this mistake in the lecture.July 26, 2022 at 9:39 am #661900
Oh yeah i mistyped it , Are you a tutor ?July 27, 2022 at 11:12 am #661954
I just noticed someone else bring it out too already few days ago. Sorry for any trouble caused.
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