Unit 15 - Tricky Question Alec's Attempt'
Alec Baker
Registered Posts: 8 New contributor 🐸
Please see attached my attempt to the my previous post named Unit 15 - Tricky Question
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Alec
I haven't done a lot on this but I hope these two comment help:- I don't see the opening/closing stock information as relevant (remember the unit 15 standards do require you to recognise relevance)
- 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
Sandy
sandy@sandyhood.com
www.sandyhood.com0 -
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:- Delivery cost values
- Overdraft interest ~ I have charged the interest on the closing balance in June and recorded the payment in July etc
- 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
sandy@sandyhood.com
www.sandyhood.com0
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