In accounts paper, if goodwill is calculated using closing CE, will that be wrong or it hast to be done by using Avg CE only,
plz answer
5 Replies
Kunal Tayal
(Chartered Accountant)
(43 Points)
Replied 06 November 2011
it will not b wrong using Closing CE as ques doesnt specifically require to use average capital neither there is any hint to use the same. but as the ques required super profits so using avergage cap emp. would be recommendary.
i also used cl CE...dnt wryy :D
richa
(ca student)
(195 Points)
Replied 06 November 2011
thanx...:D....also if u can answer ,,,,regarding that sale of share in subsidiary question....whether capital reserve on acquistion wil alsol be adjusted in calculation of profit/ loss on sale ? i have done that :(
CA Pranjal Dhariwal
(Business)
(248 Points)
Replied 06 November 2011
Hey.. Some institute has come out with provisional answers for the accounts paper.. You can check your doubt in that.. The link is..
/forum/files/34403_862195_financial_reporting.pdf
Good luck.. :-)
Kunal Tayal
(Chartered Accountant)
(43 Points)
Replied 06 November 2011
not a prob richa...check the link pranjal has submitted...will b useful for u..all the best for the rest..
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