Adv. account paper of ipcc
Ricky (Tax Consultant) (98 Points)
15 November 2013
where's the electricity question comes from and departmental also?
16 Replies
Swaroopa
(Articled Assistant since Aug 2011)
(69 Points)
Replied 15 November 2013
PAPER WAS UNEXPECTED... IT WAS MORE FROM STUDY MATERIAL WHICH I SAW NOW : ( AND NOT MORE FROM PM AND RTP.
SOMEBODY PLEASE TELL ANSWER OF LIQUIDATION - FINAL CALL FROM EQUITY SHAREHOLDERS AND PAYMENT TO EQUITY SHAREHOLDER
sagar parakh
(Group 2 Cleared)
(317 Points)
Replied 15 November 2013
According to me call from contributory was 6900 (1.38x5000)
Swaroopa
(Articled Assistant since Aug 2011)
(69 Points)
Replied 15 November 2013
Hey same here... My answer was also 6900 call from Equity shareholders and 6200 payable to equity shareholders... Before that there was deficit of Rs.700/- Aare I was not sure of the answer because of that Profit and Loss account in asset side 35000 and 2000 debenture expenses... Uska kuch anhi karna tha na
sagar parakh
(Group 2 Cleared)
(317 Points)
Replied 16 November 2013
Deficit in what ??
U are taking about liquidation naa ??
sagar parakh
(Group 2 Cleared)
(317 Points)
Replied 16 November 2013
OK OK I got it...unka kuch ni krna tha...
Swaroopa
(Articled Assistant since Aug 2011)
(69 Points)
Replied 16 November 2013
Ok thanks. Aare I was talking about the deficit which we get before adding amount of notional call that deficit was 700.
Hey paper was tough means checking will be lenient na???
Anyways forget about Adv Acs paper. Best of Luck for Audit and ITSM,
Ricky
(Tax Consultant)
(98 Points)
Replied 16 November 2013
Only theory is given in study may. Abt RETURN OF EQUITY of Electricity co.
Swaroopa
(Articled Assistant since Aug 2011)
(69 Points)
Replied 16 November 2013
Hey No in the module there is Illustration 3 marked in grey in which they have included computation of ROE which I saw after coming home so could not write in the exam :(
Hey now just forget about adv acs paper... Best of Luck
sagar parakh
(Group 2 Cleared)
(317 Points)
Replied 16 November 2013
Ya best of luck to u too :)
Maine to electricity attempt he ni kiya :D
sagar parakh
(Group 2 Cleared)
(317 Points)
Replied 16 November 2013
And u have committed mistake I suppose in liquidation...there was no defieciency.. since arrears for dividend was to taken for 2 years...
Swaroopa
(Articled Assistant since Aug 2011)
(69 Points)
Replied 16 November 2013
Aare I took arrears for two years I am talking the deficit jo working note mai likhte hai Deficit before call from Equity Shareholders... refer Illustration 7 of Module similar question hai par amounts alag hai,,,
sagar parakh
(Group 2 Cleared)
(317 Points)
Replied 16 November 2013
Your method of doing is also correct and mine also...Parveen Sharma sir told us to calculate in a slightly different manner...and please don't tell me now that u are also a Parveen Sharma sir student :D
And leave this advance accounts now !! :D
Swaroopa
(Articled Assistant since Aug 2011)
(69 Points)
Replied 16 November 2013
Oh great... No no I am not Praveen Sir's student but have heard a lot about him... Hey please tell me are CDs of his lectures available? My friend wanted for CA final???
sagar parakh
(Group 2 Cleared)
(317 Points)
Replied 16 November 2013
I have IPCC only...but in market CA Final CDs must also be there...mine friend arranged the videos for the IPCC from there only (free of cost) :D
Aur Han..jb me final me aa jaoga...tbh CA final ki bhi kahi naa kahi se mil jayegi :D
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