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Tirwen Co

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FM Exams › Tirwen Co

  • This topic has 3 replies, 2 voices, and was last updated 7 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
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  • November 26, 2015 at 3:37 am #285328
    manta
    Member
    • Topics: 3
    • Replies: 3
    • ☆

    Hi Sir,
    My question is based on Tirwen Co, December 2004, part C. Earnings of $1,050,000 should be grossed up to arrive at the earnings before tax of $1,500,000 but I can’t figure out how to do so. So can you please enlighten me. Thanks in advance!

    November 26, 2015 at 9:09 am #285382
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51532
    • ☆☆☆☆☆

    For every $100 earnings before tax, they will pay $30 tax, and therefore the earnings after tax will be $70.

    So for every $70 after tax, it grosses up to $100 before tax.

    So 1,050,000 after tax grosses up to 100/70 x 1,050,000 = 1,500,000

    November 26, 2015 at 7:50 pm #285586
    manta
    Member
    • Topics: 3
    • Replies: 3
    • ☆

    Thank you so much Sir!

    November 27, 2015 at 7:23 am #285634
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 51532
    • ☆☆☆☆☆

    You are welcome 🙂

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