SIR/MADAM,

I COMMENCED MY ARTICLESHIP ON 1ST NOVEMBER,2006.MY 18 MONTHS TRAINING WILL BE OVER BY 30TH APRIL,2008.THEREFORE I JUST WANT TO KNOW AM I ELIGIBLE FOR MAY 2008 PCC

hi,
pls provide me simplified version of amendments made by finance act 2007 in direct tax.
i do not want bare act version as i already have supplementary material issued by the institute.
thanks

hi,
i would like to know-
are following amendments applicable for ca final may 2008-

1.Competition (Amendment) Act, 2007

2.Securities Contracts (Regulation) (Amendment) Act, 2007

3.Companies (Director Identification Number) Rules, 2006

please help me out

CAN ANY1 PROVIDE ME THE QUESTION PAPERS OF PE-II GROUP 1.

MY E_MAIL ID is sonal_kumari61@yahoo.com

THANKING YOU;

SONAL.

Respected Experts,
First of all wish u a very happy Diwali to all of U.
i want to know the abtchecking pattern of the ICAI exams.
Sir one of my friend who have appeared in the nov. PE-II exams told me that in the costing & FM paper he attempted the Ratio Question very well, All steps were right but unfortunately he take one ratio's figure wrong which was given in the question Now my query is that whether he will be awarded for that or not ?/ Whether all marks will be deducted or any credit will be given to him?

Once again happy diwali to all
Regards,
Anil Jain.

Plz help me solve these probs . I need lucid and clear concepts abt them and their procedures.

Case I
A consignee sold goods costing Rs 50k at a profit of Rs 10k . Out of total sales, 30% was credit sale. As per the agreement, the consignee will get 5% ordinary commission, 2% delcredere commission on credit sale, and 3% over-riding commsion on amount in excess in cost price. The amt. of commission is :
a) 3540 b) 3840 c) 4500 d) 3000

Case II
Sundry debtors of MS Santosh amounts to Rs 25000 and bad debts Rs 3000. Santosh provides for doubtful debt @ 2%, and for discount @1%. The amount of net debtors in B. sheet will be :
a) 21560 b) 22k c) 21780 d) 21344

Case III)
Light Ltd has 10000 P.shares of Rs 10 each to be redeemed after 5 years. The company forfeited 500 P.S on which final call Rs 2 had not be been paid, after due notice. Remaining shares were redeemed out of reserves of the comp. The amt. to be credited
To C.Redemp. Reserve is
a) 1lkha c) 95k c) 99k d)99.5k


Cud sb explain me the soln. to the following problems:
A)
Jadu LTD reissued 2000 shares, which were forfeited by debiting Share forfeiture account by Rs 3000. These shares were reissued at Rs 9 per share. The amt. transferred to Capital reserve a\c wud be a)3000 b) 2000 c)1000 d)none

The solution is “Profit on forfeiture = 3000 - Loss on reissue 1000 = Rs. 2000 transferred to Capital Reserve”.
How the loss on reissue became 1000( Rs 1 * no. of shares; no. of shares aint given)

B) Capital introduced by A on 01.04.05 was Rs 3 lakh. Further capital introduced during the year was Rs 50k in mid of year. Mr A withdrew Rs 2000 each month(on first day each). Interest on drawings is charged @ 5% pa. Profits during the year Rs 20000. Capital at the year end is a) 345350 b) 395000 c) 346000

Soln: 350000 – “24650” + 20000 = 345350
How 24650 and why it came? New capital= Old-drawings+Profit + Interest on Drawings (received) , isn’t it?

Case I:
Electricity paid on 1 october 2004 for the eyar to 30 September 2005 waas 2400 rs and electricity paid on 1 october,2005 for the year to 30 September 2006 was Rs 3200. Electricity payable, as shown in P\L Accounts for the year ended 31-12-2005 would be:
A)2400 B) 3200 C) 2600 D)3000

Case II:
A agrees to sell his Ipod to B at a price B would be able to pay. This agreement is ____(why?)
A)valid B)void c)voidable d)illegal(X)

Case III:
Jadu LTD reissued 2000 shares, which were forfeited by debiting Share forfeiture account by Rs 3000. These shares were reissued at Rs 9 per share. The amt. transferred to Capital reserve a\c wud be a)3000 b) 2000 c)1000 d)none

Case Iv
Cost of exceptional repairs of a non –recurring nature by way, of overhauling of the entire plant is _____
a) Capital Exp. B) Revenue Exp. C)Deferred Rev. exp. D)Capital loss

Case V:
Capital introduced by A on 01.04.05 was Rs 3 lakh. Further capital introduced during the year was Rs 50k in mid of year. Mr A withdrew Rs 2000 each month(on first day each). Interest on drawings is charged @ 5% pa. Profits during the year Rs 20000. Capital at the year end is
a) 345350 b) 395000 c) 346000
Case VI
A,B, C are partners with capital Rs 1 lakh,75k, 50k respectively. On C’s retirement, his share is acquired by A and b in the ratio 6:4 respectively. Gaining ratio is_______
a)3:2 b)2:2 c)2:3 d)none

plzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

want to know the answers for accounts ca pe2 paper

Case A:
Ramesh and Suresh are partners with profit sharing ratio 2:1. their capitals are 102000
And 73000. They admit Mahesh with 1/5 share. He brings Rs 14000 as his share of goodwill. He agrees to contribute capital in new profit sharing ratio. How much capital will he bring?
a) 47250 b) 45000 c) 47000 d)48000


1)T Ltd has issued 14% debentures of Rs 20lakh at a discount of 10% on April 1 2004;the company pays interest half yearly on june 30 and December 31 every year. On march 31, 2006, the amount shown as “interest accrued but not due is how much, and it comes under which category??(How to calculate)


2)Which category in Balance Sheet does “premium of redemption of debentures” come under”?

3)Which among the two staetement is correct
i) All contracts are agreement.
ii) All agreements are contracts. (isn’t it ‘I’ ,coz only those agreements that r enforeceable by law becomes contract)

3) Loss leads to reduction in
a)Liability b) Capital c) Income d) None (isn’t it ‘c’, but in book its given
d”


4) The final position of business is ascertained on the basis of
a) Records kept under bookkeeping process b)Trial Balance c) Acc. Report d)None (isn’t it ‘c’ coz its prepared after B.sheet)



5 )∫ log x =??? Answer according to cpt material (both QB and course) is “x.logx” while according to me and NCERT book it is “ x.logx+ k” coz it is a indefinite integral. What is the correct answer.