Hi Mr. Little,
May I ask how was the interest paid worked out in this cash flows exam question. The solution of 500 was provided directly without any working, but I cannot find anywhere the interest payment was mentioned in the question. And I can't find interest payable in the balance sheets of both years, so I really don't understand how this figure was arrived at.
Could you help me point out please?
Thank you.
Ask the Tutor ACCA FR
The Interest Paid in Q3 Dec 2011 Exam
What were the finance costs in the 2011 statement of profit or loss?
500
And what was your question?
so you mean this company paid exactly the 500 finance charge? Thank you.
Exactly that!
Thank you. Tricky that.
Probably the easiest interest paid calculation that you could ever come across!
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