AICPA CPA Task Based Simulation: FAR

[@zero-pk7hw]

thank you alot , i have been watching many of your videos , even though i have becker there are subjects that becker dont explain in depth as you do
i have simple question ,,in the loan guarantee (11:51) , i dont understand this part, the controller say that they recognized 150k of the loan ? so shouldnt we record the 350k left not 500k ? i really didnt understand this part

[@Tamara-ju3lh]

I was confused too but then noticed the title of the first column is "Balance Dec 31" so I think it's referring to the total on the balance sheet. But the journal entry should be $350k.

[@noorazab9681]

As far as I know, please correct me if I am wrong as my exam is tomorrow, the credit you get for the right answer is the whole row has to be right?

[@hetjoshi4609]

Why did we accrue the entire 500,000 instead of 150,000 for Loan guarantee ?

[@rattyking7102]

this is very good. need any help on FAR, i can be of some assistance

[@AccountingLectures]

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[@aruva8995]

Thank you a lot. I cannot even read what you display on screen as it is so blured look