I hope I will not disturb you Mike but I have the same issue with this query, I'm not sure if you receive it
I have the following questions regarding the Sundry mini exercises:
Question 2: Although I understand the booking (as the explanation is similar to the question 12), I’m not able to get why the price of the share is 20 c.
Question 9: Why in the answer there is not an entry related with Cost of goods sold and with inventory?
Thank you for the support!
Cheers!
Ask the Tutor ACCA FR
Sundry mini excercises
Q2 - the price of the share is NOT 20 cents. That's the earnings per share and that's calculated by dividing earnings of $26,250 by the weighted average number of equity shares in issue through the year
Q9 - because the mistake was not in inventory - the mistake was because the goods had been invoiced so it was revenue and receivables that were wrongly stated
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