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TFR – June 07

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FM Exams › TFR – June 07

  • This topic has 3 replies, 2 voices, and was last updated 6 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • February 7, 2019 at 12:16 pm #504413
    pratim
    Member
    • Topics: 16
    • Replies: 12
    • ☆

    When We Are To Calculate Interest On The Loan We Started From Year 1. Year 1 Interest = 100000 x 9%.

    But When Measuring Amount Of Debt, Kaplan Has Substituted 75000$ Debt In Year 1.

    Shouldn’t Year 1 Debt Be $100000, Year 2: 75000$ And So On As We Are Paying 9000$ Interest For Using $100000 In Year 1.

    February 7, 2019 at 3:25 pm #504433
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54699
    • ☆☆☆☆☆

    No. The SOPL’s are always prepared at the ends of years.

    They take a loan now – at the start of the first year. So the interest in the first year is 10,000 (plus the overdraft interest).
    At the end of the year they repay 25,000, so they start the second year owing 75,000. So the interest in the second year is 6,750 (plus the overdraft interest).
    And so on….

    February 7, 2019 at 7:34 pm #504449
    pratim
    Member
    • Topics: 16
    • Replies: 12
    • ☆

    Thanks 🙂

    February 8, 2019 at 7:54 am #504476
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54699
    • ☆☆☆☆☆

    You are welcome 🙂

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • The topic ‘TFR – June 07’ is closed to new replies.

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