here is adv acc solutions for group 2 ipcc nov 2010
9 Replies
Akshay Shah
(Proprietor)
(78 Points)
Replied 22 December 2010
Thank you very much sir.
I have some query regarding........
- I think that in Qs.1 it is not specifically said that debentures are cancelled on last day of the year[31/03/2010].According to me,they are cancelled immediately.
- In Qs.5, there is some wrong in PC calculation.
Plz check it out and reply as soon as possible.
CA Puneet Dham
(CA)
(694 Points)
Replied 23 December 2010
| Originally posted by : Akshay Shah | ||
 |
Thank you very much sir. I have some query regarding........ I think that in Qs.1 it is not specifically said that debentures are cancelled on last day of the year[31/03/2010].According to me,they are cancelled immediately. In Qs.5, there is some wrong in PC calculation. Plz check it out and reply as soon as possible. |
 |
yup...... in ques. 5 there is printing error........ its not wrong..... total of PC is printed wrong
CA Puneet Dham
(CA)
(694 Points)
Replied 24 December 2010
@ akshay ........... i m student........ i also gave ipcc nov 2010 attempt
so to whom u r calling sir
CA Puneet Dham
(CA)
(694 Points)
Replied 24 December 2010
@ akshay .... u plz check the question again
CA Puneet Dham
(CA)
(694 Points)
Replied 24 December 2010
it is specifically said that its cancelled on 31.3.20120
CA Puneet Dham
(CA)
(694 Points)
Replied 24 December 2010
(i) Rama Limited issued 8% Debentures of Rs. 3,00,000 in earlier year on which interest is payable half yearly on 31st
March and 30th September. The company has power to purchase its own debentures in the open market for
cancellation thereof. The following purchases were made during the financial year 2009-10 and cancellation made on
31st March 2010 :
(a) On 1st April Rs.50,000 nominal value purchased for Rs. 49,450, ex-interest.
(b) On 1st September Rs.30,000 nominal value purchased for Rs.30,250 cum interest.
Show the Journal Entries (without narrations) for the transactions held in the year 2009-10.
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