Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › The Interest Paid in Q3 Dec 2011 Exam
- This topic has 7 replies, 2 voices, and was last updated 7 years ago by MikeLittle.
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- April 24, 2016 at 11:31 am #312467AnonymousInactive
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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.
April 24, 2016 at 12:00 pm #312468What were the finance costs in the 2011 statement of profit or loss?
April 24, 2016 at 12:21 pm #312474AnonymousInactive- Topics: 43
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500
April 24, 2016 at 12:26 pm #312476And what was your question?
April 24, 2016 at 12:36 pm #312478AnonymousInactive- Topics: 43
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so you mean this company paid exactly the 500 finance charge? Thank you.
April 24, 2016 at 1:00 pm #312479Exactly that!
April 24, 2016 at 1:34 pm #312486AnonymousInactive- Topics: 43
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Thank you. Tricky that.
April 24, 2016 at 5:05 pm #312515Probably the easiest interest paid calculation that you could ever come across!
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