Unit 15 - Tricky Question Alec's Attempt'

Alec Baker
Alec Baker Registered Posts: 8 Regular contributor ⭐ ? ⭐
Please see attached my attempt to the my previous post named Unit 15 - Tricky Question

Comments

  • SandyHood
    SandyHood Registered, Moderator Posts: 2,034
    Alec
    I haven't done a lot on this but I hope these two comment help:
    1. I don't see the opening/closing stock information as relevant (remember the unit 15 standards do require you to recognise relevance)
    2. there is a cash flow that is dependent on sales revenue (in the question it says 1% sales revenue is spent on it) - your answer is 1% of receipts from sales whereas I consider that the answer should be 1% of the value of sales
    Your answer does look good and I'm sorry I've not looked at every aspect yet.
    Sandy
    [email protected]
    www.sandyhood.com
  • SandyHood
    SandyHood Registered, Moderator Posts: 2,034
    I have made an alternative attempt, but have added 2 questions on your original posting for clarity.

    My answer agrees with yours in nearly every aspect.
    My differences are:
    1. Delivery cost values
    2. Overdraft interest ~ I have charged the interest on the closing balance in June and recorded the payment in July etc
    3. the opening overdraft balance

    I'm happy to let you have a copy of my answer, but exactly what my answer is will depend on the value of the opening overdraft.
    Sandy
    [email protected]
    www.sandyhood.com
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