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Practice Class 5 Part 1 and 2 - Sol Mix Standard Practice - Ppe, B.cost and Govt Grant
Practice Class 5 Part 1 and 2 - Sol Mix Standard Practice - Ppe, B.cost and Govt Grant
LOAN ACQUIRED = 90 Million x 14% x 9 / 12 = 9.45 B COST TOTAL FOR 9 MONTHS FTY 2019
LOAN ACQUIRED = 30 Million x 15% x 1 / 12 = 0.375 B COST TOTAL FOR 1 MONTH FTY 2019
SURPLUS WORKING:
AVG INTEREST
OUT BAL INT EXP
BANK P 250.00 25% 62.50
BANK Z 280.00 23% 64.40
530.00 126.90 23.94% W.AVG RATE OF CAPITALIZATION
CURRENT LIABILITIES
Interest payable 136.73
126.90 + 9.45 + 0.375
AVG INTERES
OUT BAL INT T EXP
BANK P 390.00 25% 97.50
BANK Z 230.00 24% 55.20
620.00 152.70 24.63% W.AVG RATE OF CAPITALIZATION
WORKING FOR 2020
Balance of general borrowing as at Jan 1 2020 (135.00) x 24.63% x 3 / 12 = (8.31) 3 months Jan - March 2020
April 1 2020 - payment to contractor (80.00)
(215.00) x 24.63% x 1 / 12 = (4.41) 1 Month April 1 - 30 Apr 2020
May 1 2020 - Repayment of loan from Righ proceeds 25.00
(190.00) x 24.63% x 3 / 12 = (11.70) 3 months MAY - JULY 31 2020
Aug 1 2020 - payment to contractor (30.00)
(220.00) x 24.63% x 1 / 12 = (4.52) 1 Month Aug 1 - 31 aug
1. SPECIFIC LOAN ACQUIRED ON APRIL 1 2019
LOAN ACQUIRED = 90 Million x 14% x 12 / 12 = 12.6 B COST TOTAL FOR 8 MONTHS IN 2020 to be capitalized
2. SPECIFIC LOAN ACQUIRED ON DEC 1 2019
LOAN ACQUIRED = 30 Million x 15% x 1 / 12 = 4.5 B COST TOTAL FOR 8 MONTHS IN 2020 to be capitalized
Current Liabilities
Interest payable 306.53 OP 136.73 + 152.70 + 12.6 + 4.5
Defferred Govt Grant 12.00