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Q2 June 2013

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Q2 June 2013

  • This topic has 1 reply, 2 voices, and was last updated 11 years ago by MikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
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  • November 12, 2013 at 2:52 pm #145654
    marilynlojikim
    Member
    • Topics: 15
    • Replies: 32
    • ☆

    Hi mike,

    Noticed that ur balancing figure in SoFP , SoCE is different from the answer. Below are the diff

    1. plant held for sale in nca of which u put the market value of 4200 instead of 3,600
    2. Revaluation reserve, u include the gain on AHFS of 600 , but in d answer they ignored it
    3. There is accrued directors bonus of 5400 under cl in the answer

    But u still managed to get it balanced!! U r indeed a brilliant! Hehee

    So can u pls explain on the differences. Thank uuuuu

    November 12, 2013 at 5:07 pm #145688
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23315
    • ☆☆☆☆☆

    Hi Marilyn

    Balancing simply means following double entry principles 🙂

    The first two comments look to be the same point – you tell me that I have accounted for the fair value increase in the asset held for sale. Without the question in front of me ….. it could be that I have made the 600 adjustment but it maybe related to an earlier year.

    Possibly the version of the question I was working from is not the same version you have in front of you

    Re the directors’ bonus, I remember reading student comments on this site about this point – I’m surprised if I’ve overlooked it

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