guys plz tell me will there be employess compensation ac DR. to ESOP ac in esop question?
pratit
(student)
(56 Points)
Replied 12 November 2011
guys plz tell me will there be employess compensation ac DR. to ESOP ac in esop question?
Rahul
(Chartered Accountnat CS)
(1580 Points)
Replied 12 November 2011
Ans 1 (a) Amount to be capitalized = Rs 4,80,000
Amount to be charged to P and L A/c= 7,20,000
(b) Dont know
(c) Amount to be transfered to capital reserve = 60,000
(d) 1 Head office exp to Head ofice A/c
2 Deprectiatio Dr to head ofice a.c
3 Head Office to salaries
4 Head Office to Debtor
Ans 2 Realisation loss = Rs 1,00,300
In applying Garnar murray P and Q will be liable to contribute deficiency. S having debit balance wil not bring anything
Entry for garner murray
P Dr 12,636
Q Dr 8,424
To R 21,060
Ans 3 I left it in choice
Ans 5 a Opening stock reserve = 59850 Closing stock reserve = 80,640 GP rate of current year = 16% Final Profit = 27,73,710 ( approx)
b rebate = 37591 current year income = 6,33,819
Ans 6 a P NIL Q 4500 R 4320 S 3188 T 2000
ans 6 b Premium = 16,78,200 claim 12,00,000 tax may be deducted here or may be deducted in p and l ( i gave note and transfered to p and l) Profit = 115050
Ans 7 a Whole 8 lacs can be written off provided that the accounts are not approved till may 2011 ( AS 4)
c Employees Compensation Expenses to be charged to P and l = Rs 4,32,000
d theory
e Reliability, relevence, etc
Guyz Please correct me if i am wrong
CA Vasiullah (Vasi)
(Audit Executive)
(1813 Points)
Replied 12 November 2011
D.M.Omkar
(ca final)
(110 Points)
Replied 12 November 2011
hi guyssss........i hope you all did well in today exam... paper was good..
mandeep beniwal
(CA IPCC Rohtak HAryana)
(49 Points)
Replied 13 November 2011
frnds what about question of electricity co.????????
Prashant babu bamane
(article training)
(25 Points)
Replied 13 November 2011
kamal kishor sen
(STUDENT Rajasthan)
(2156 Points)
Replied 17 November 2011
paper was good n now hoping for best results
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