• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

PQ Awards Nominations

Please help us to win one of the PQ Magazine awards and send in the voting form >>
You can nominate us in any or all of the following categories: Online College of the Year, Study Resource of the Year, Private Sector Lecturer of the Year, and Accountancy Personality of the Year.

Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>

Prodigal Co Bpp Consolidated SPL

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Prodigal Co Bpp Consolidated SPL

  • This topic has 2 replies, 2 voices, and was last updated 1 year ago by kinza1997.
Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • November 24, 2021 at 8:08 am #641452
    kinza1997
    Participant
    • Topics: 16
    • Replies: 18
    • ☆

    Hi…

    I need help…

    Immediately after acquisition of S co on 1 Oct 20×0, P co transferred an item of plant with carrying amount of $4 million to S co at an agreed value of $5 million.
    at this date, the plant had a remaining life of two and a half years. P Co had included the profit on this transfer as a reduction in its depreciation cost. all depreciation is charged through cos.

    i have difficulty understand the full adj
    i know that profit on transfer is $1000
    excess depn is $200

    i cannot understand why $800 is being added to cos? i am getting only $200.

    also, in NCI , why is it adding $200.. i thought it should be deducted

    plz help

    November 25, 2021 at 3:48 am #641561
    Rubyta
    Participant
    • Topics: 0
    • Replies: 8
    • ☆

    P Co had included the profit on this transfer as a reduction in its depreciation cost, and all depreciation is charged through cos.

    Debit cost of Goods : 1.000
    Credit NCA:1.000

    and excess depreciation:

    Debit NCA :200

    Credit : Cost of goods : 200

    1.000-200=800

    November 27, 2021 at 1:56 pm #641801
    kinza1997
    Participant
    • Topics: 16
    • Replies: 18
    • ☆

    hello

    thanks for the solution

  • Author
    Posts
Viewing 3 posts - 1 through 3 (of 3 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

ACCA News:

 

ACCA My Exam Performance for non-variant Applied Skills exams is available NOW

NEW! Download the ACCA Pass Guide

FREE Verifiable CPD for ACCA Members

ACCA mock exams and debrief videos

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

Donate

If you have benefited from OpenTuition please donate.

ACCA CBE 2023 Exams

Instant Poll * How was your exam, and what was the result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • tobimillz100 on Activity Based Costing part 1 – ACCA Performance Management (PM)
  • omarcham on IASB Conceptual Framework – Introduction – ACCA Financial Reporting (FR)
  • Iby2012 on Introduction to Financial Accounting – ACCA Financial Accounting (FA) lectures
  • Iby2012 on Introduction to Financial Accounting – ACCA Financial Accounting (FA) lectures
  • ANISH1903 on Outsourcing, shared services and disruptive technologies – ACCA Strategic Business Leader (SBL)

Copyright © 2023 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy