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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 answerBut u still managed to get it balanced!! U r indeed a brilliant! Hehee
So can u pls explain on the differences. Thank uuuuu
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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