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Hi Vijay , I hope you are alright. I had a doubt about a question.
If the net assets after liquidation is 800,000 pounds(which is more than 600,000 pounds)
what would be the prescribed part.
A) 5,000 pounds + (600,000-10,000)* 20 % = 123,000
B) 5000 +( 600,000) * 20% = 125,000
Another problem : I couldnt understand the 4th question’s last option. And why its incorrect. But i don’t understand what the option really trying to say.
here is the link to the questions :- https://opentuition.com/acca/lw/lw-english-chapter-16-questions-capital-maintenance/
Please also clearify , is the prescribed part applicable on total net assets
Is it applicable on net assets after paying off first three categories (Liquidators , fixed charges creditors and prefremve creditors )
Passed the exam with 73% , please ignore the questions.
Hey that’s fantastic news !!!