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CIMAPRA17-BA3-1 Exam - Topic 1 Question 86 Discussion

Actual exam question for CIMA's CIMAPRA17-BA3-1 exam
Question #: 86
Topic #: 1
[All CIMAPRA17-BA3-1 Questions]

Mr UY has just had property P re-valued. Mr UY originally purchased property P for 560,000. It is now worth 780,000.

Which ONE of the following shows how this transaction should be recorded in Mr UY's property account?

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Suggested Answer: A

by Tamala at May 02, 2024, 03:53 PM

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Chauncey
6 months ago
780,000 credit makes sense for the current value!
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Stephaine
6 months ago
Wait, how does it go from 560k to 780k? Sounds off.
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Jerlene
6 months ago
I think it should be a debit of 780,000 instead.
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Vernice
7 months ago
Definitely a credit of 220,000.
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Keneth
7 months ago
Mr UY made a profit of 220,000!
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Paris
7 months ago
I’m not entirely clear on the difference between crediting and debiting in this context. I feel like it could be either A or B, but I need to think it through more.
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Jacquelyne
7 months ago
This reminds me of a practice question where we had to adjust asset values. I think the increase goes as a debit, so maybe option C?
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Gary
8 months ago
I think we might need to record the new value of the property, which could mean a debit of 780,000, but I’m a bit confused about the credit side.
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Tomoko
8 months ago
I remember something about revaluation increasing asset value, but I'm not sure if it's a debit or credit.
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Emilio
8 months ago
I'm not entirely confident, but I think the answer is B - 220,000 debit. The property value increased, so that increase should be recorded as a debit to the property account.
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Ben
8 months ago
I'm pretty sure the answer is D - 780,000 credit. The property is now worth 780,000, so that's the amount that should be recorded in the property account.
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Ivan
8 months ago
Okay, let's see. The property was originally purchased for 560,000, and now it's worth 780,000. So the increase in value is 780,000 - 560,000 = 220,000. I believe the correct answer is A - 220,000 credit.
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Lashonda
8 months ago
I'm a bit confused on this one. Is the 220,000 increase in value recorded as a credit or a debit? I'll need to think it through carefully.
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Taryn
8 months ago
Hmm, this seems straightforward. I think the answer is B - 220,000 debit, since the property value increased by that amount.
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Vallie
8 months ago
Hmm, I'm a bit unsure about this one. The question is asking specifically about a workflow, so I'll need to carefully review the descriptions to see which publication covers that.
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Ellsworth
8 months ago
I think this is a straightforward question about service inventory management. I'll carefully read through the options and choose the one that best matches the description in the question.
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Shawana
8 months ago
What about the serial connection? I vaguely remember it being used in some setups, but it doesn't feel like the best choice here.
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Shenika
1 year ago
Option B is the correct answer. The increase in value is recorded as a debit to the property account.
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Kris
12 months ago
Option B is the correct answer. The increase in value is recorded as a debit to the property account.
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Hannah
12 months ago
B) 220,000 debit
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Ariel
12 months ago
A) 220,000 credit
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Johnetta
1 year ago
Haha, I bet Mr. UY is feeling pretty good about that 220,000 gain! Time to splurge on a new sports car, am I right?
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Leontine
11 months ago
D) 780,000 credit
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Latosha
11 months ago
B) 220,000 debit
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Brittni
12 months ago
A) 220,000 credit
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Mayra
1 year ago
I'm not sure about this one. Shouldn't it be a credit since the property value has increased?
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Kattie
12 months ago
D) 780,000 credit
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Jacqueline
12 months ago
Yes, you are correct. The increase in property value should be recorded as a credit.
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Alberta
12 months ago
A) 220,000 credit
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Tammy
1 year ago
Option B looks right to me. We're increasing the value of the property, so it's a debit to the account.
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Amalia
12 months ago
Option B looks right to me. We're increasing the value of the property, so it's a debit to the account.
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Chery
1 year ago
B) 220,000 debit
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Jettie
1 year ago
A) 220,000 credit
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Jutta
1 year ago
But wouldn't the increase in property value be recorded as a credit in the account?
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Jamal
1 year ago
I disagree, I believe the correct answer is D) 780,000 credit.
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Jutta
1 year ago
I think the answer is B) 220,000 debit.
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