Discuss and Download IPCC question paper Nov 2014

Page no : 2

sneha (student) (209 Points)
Replied 08 November 2014

Veryy lenghtyy nd time consuming paperr ...

Aakash (student) (30 Points)
Replied 08 November 2014

Attempted 86 marks only NPO was so tough

surya tejas (nil) (30 Points)
Replied 08 November 2014

99% chances dey'l ask amalgamation in grp2 accs

Akhil (A) (38 Points)
Replied 08 November 2014

Yea... I toh first of all attempted the easiest question.. That is the last question. . 😄 so that gave me confidence and could attempt 75 marks paper.. Npo took more of my time... And good that internal reconstruction was for 12 marks.. Quite halwa(easy) and scoring question that was!

dinesh (Hyderabad) (21 Points)
Replied 08 November 2014

Ya its time consuming bt , its very easy who prepared we'll...


Akhil (A) (38 Points)
Replied 08 November 2014

Npo ka stock thing irritated me the most! Couldn't get the figure of payment and sales only.. IThat's y.. I instead completed the balance sheet and found bank a c closing balance as balancing figure and then I completed receipts n payment 😂😂If creditors balances wouldn't have been there.. It would have been a very easy question..

Aditya dutta (Student) (66 Points)
Replied 08 November 2014

ICAI asked internal reconstruction in gr-1. Is there any chance that they will not ask IR in group 2

Varsha V (IPCC student) (21 Points)
Replied 08 November 2014

Originally posted by : Aditya dutta
ICAI asked internal reconstruction in gr-1. Is there any chance that they will not ask IR in group 2

Nothing lyk that...In may 2013 attempt they askd IR both in grp 1 and grp 2..

N amalgamatn problm ws der in may 2014 attempt in grp 2 so chance fr asking amalga this tym is low i guess... !


Girish Baliga M (MBA) (46 Points)
Replied 08 November 2014

Aditya - Dont drop that chapter , icai is unpredictable , in may 2013 they dropped amalgamation in both groups and gave IR in both...they may do the same this time

Krishna Agarwal (Student) (37 Points)
Replied 08 November 2014

AS ke second question ka kya answer hai ...revenue recognition wala.....


Kartik parekh (Tutor) (84 Points)
Replied 08 November 2014

Partnership

Revaluation Loss: 93500, Anuj 37400, Ayush 37,400 & Piyush 18,700

Anuj Loan - Rs 283,067

Capital Balances of Ayush & Piyush 297,217 & 297,217

Balance Sheet Tallied at 11,03,500

Internal Reconstruction

Capital Reserve of 26,00,000

Balance Sheet Tallied on 3,09,00,000

 


RAKESH MEHTO (CA STUDENT) (51 Points)
Replied 08 November 2014

 

 


Kartik parekh (Tutor) (84 Points)
Replied 08 November 2014

Insurance Claim:- Closing stock - 141,500, Loss 141,500-27,000=114,500

Claim = 114,500/141,500*75000 =  60,689


RAKESH MEHTO (CA STUDENT) (51 Points)
Replied 08 November 2014

how to calculate closing stock 141500



Kartik parekh (Tutor) (84 Points)
Replied 08 November 2014

Debit side:- Opening Stock 120,000+Purchases 240,000+Wages 70,000+Gross profit 62,000 (310,000*20%)

Credit Side:- Sales 310,000+ goods taken by Proprietor 20,000(at cost)+ consignee 18,000+ free samples 2,500

So closing stock is 141,500



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