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Sundry mini excercises

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Sundry mini excercises

  • This topic has 1 reply, 2 voices, and was last updated 9 years ago by MikeLittle.
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  • November 22, 2015 at 1:52 pm #284555
    Miguel
    Member
    • Topics: 38
    • Replies: 30
    • ☆☆

    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!

    November 24, 2015 at 12:34 pm #284889
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    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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