Analysis and answers of nov 2011 accounts ipcc

Page no : 3

Nandini (student) (39 Points)
Replied 07 November 2011

hey can anyone tell question 3 kaise kiya woh NPO wala..??

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Divya (Article Assistant) (37 Points)
Replied 13 November 2011

Originally posted by : Chetan Sharma
	MUJHE TOH YEH SAMAJH NAHI AAATA KI YAHAN SAB PAPER DISCUSS KYU KARTE HAIN YAHAN DISCUSS KARNE SE HAMARE ANSWERS TOH CHANGE NHI HO JAAYENGE?

I am studying for IPCC and this Thread is very helpful to me. All this CACLUB is here to share our knowledge. If u cant share pls dont discourage others. Thanks

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akshat (owner) (57 Points)
Replied 13 November 2011

some 'champion" facultys are including DA for bonus calculation some are excluding, some have a different answer for machine selection by present value index others have totally different answer, teachers accross india have different answers and formulas, thats why nobody can be relied on and no one is daring to post suggested answer for accounts :) CA is not difficult ..the teachers are difficult

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IPCC Nov 2011 Taxation paper fully solved and analaysed click here : Also share and like this page https://www.facebook.com/pages/Taxbykk-classes/189411091137427

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Rahul (Chartered Accountnat CS) (1580 Points)
Replied 20 November 2011

Originally posted by : CS K.K. Agrawal (taxbykk)
	IPCC Nov 2011 Taxation paper fully solved and analaysed click here : Also share and like this page https://www.facebook.com/pages/Taxbykk-classes/189411091137427

Thanx sir

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Tony John (Chartered Accountant) (6085 Points)
Replied 22 November 2011

Qn.1(c)

We are given the closing balance of the machine in the TB. This means that depreciation hasn't been provided on it. Usually asset balances in TB are before providing dep.

In my opinion this is the way the problem has to be approached. It may or may not be correct.

Calculation of depreciation

1. Depreciation on sold machine (160000*5%) = 8000

2. Depreciation on new machine (150000* 5 %)= 7500

3. Depreciation on remaining block

Opening WDV ( on 01 Apr 2010) = 560000+160000-150000

= 570000

So depn remaining block=

(570000 - 160000-150000)* 10%= 26000

Hence total dep = 8000+7500+26000 = 41500.

Book Value in B/S = 560000-41500 = 518500

Loss on sale is same as has been worked out earlier,Rs.17000