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question

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › question

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by AvatarMikeLittle.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • August 31, 2017 at 6:19 pm #404713
    Avatarnatty2
    Participant
    • Topics: 39
    • Replies: 56
    • ☆☆

    hi mike

    I have seen this question twice and they are given two different answer one have it to be $130,000 and other $140,000
    Tom plc has borrowed 2.4m to fiancé the construction of qualifying asset. Work on construction is scheduled to last for three years. The loan was drawn down on 1 may 2014 and construction work commenced on 30 June 2014
    1m of the funds was not required until 1 November 2014 so tom plc invested the money until it was needed
    borrowed at 8% and earn 6%

    how much are the borrowing cost to be capitalized by tom for the year ended 30 April 2015

    August 31, 2017 at 6:38 pm #404720
    AvatarMikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23368
    • ☆☆☆☆☆

    Fiancé? Really?

    2.4 x 10 months x 8% = $160,000
    1 x 6 months x 6% = $30,000

    Net borrowing costs to be capitalised = $160,000 – $30,000 = $130,000

    OK?

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