IPCC Taxation Nov 2013 Download and Discussion Share your thoughts

Page no : 3

sukanya (student) (81 Points)
Replied 12 November 2013

@ ankush sharma. balance sheet total was 1135000.but how u got bod 100000. they clearly given current liabilities comprises of current liabilities in the ratio 2:1.then bod 150000.

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Tushar Thakar (student) (57 Points)
Replied 12 November 2013

Guys is the note necessary when the question is wrongly printed? I had 1st written rightly 12.36%, but den canceled it and calculated as per QN. Will I get full marks for that?

sukanya (student) (81 Points)
Replied 12 November 2013

@ tushar thakar dont worry they award marks even i too did the same like u. be positive hope for the best

Tushar Thakar (student) (57 Points)
Replied 12 November 2013

Sukanya. Hope so. An and yes I stuck in that FM sum only while calculating debtors n inventories. There is some relation between sales n cost of sales with 'x'. Since gp ratio was given. Also I noticed that inventory t/o ratio and avg collection period can b made compareable by converting Avg Collection period to Debtors t/o ratio. I am v bad at maths so could not proceed in that.

Kumar (Student) (211 Points)
Replied 13 November 2013

Paper was very easy, but had a very bad time management, could complete only 80% :(

Still cant believe I completed Accounts (92 marks) but not tax (only 82 marks i wrote),

Gave so many notes for 5 marks sum of VAT and ST....feeling sad NOW

IS IT POSSIBLE TO SCORE 60+ BY ATTEMPTING ONLY 80 MARKS? ANYONE ?

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sukanya (student) (81 Points)
Replied 13 November 2013

@ tushar thakar. inventory turnover ratio= cogs/ stock. u will get cogs. 25% on sales i.e 20% on cost. add cogs + profit u will get sales. by average collection period u will get debtors.

Ankush sharma (Auditor Article Assistant) (816 Points)
Replied 13 November 2013

Originally posted by : sukanya
	@ ankush sharma. balance sheet total was 1135000.but how u got bod 100000. they clearly given current liabilities comprises of current liabilities in the ratio 2:1.then bod 150000.

current liablities were 300000 and it will be divided in 2:1 so 300000/3*1=100000bod and 200000 cl

Ankush sharma (Auditor Article Assistant) (816 Points)
Replied 13 November 2013

Originally posted by : sukanya
	@ tushar thakar. inventory turnover ratio= cogs/ stock. u will get cogs. 25% on sales i.e 20% on cost. add cogs + profit u will get sales. by average collection period u will get debtors.

sukanya sorry but that is incorrect

if it is 25%on sales then it will be 33.333% on cost 1/3 to sale 1/4....... cost 1/4 to sale1/5........but if sale1/4 that is 25% to cost 1/3 that is 33.33%

sukanya (student) (81 Points)
Replied 13 November 2013

@ ankush sharma a small doubt. as per u, cl=200000, bod = 100000. nw u verify they given cl and b.od in the ratio 2:1. but nw u will get 3:1. dont compare 200000 and 100000. as per my view we should compare curent liabilities (including bod) and bod. thanks for u r reply

sukanya (student) (81 Points)
Replied 13 November 2013

@ ankush sharma thanks for rectifing my mistake. yes 1/3. in exam i did correctly.

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Ankush sharma (Auditor Article Assistant) (816 Points)
Replied 13 November 2013

Originally posted by : sukanya
	@ ankush sharma a small doubt. as per u, cl=200000, bod = 100000. nw u verify they given cl and b.od in the ratio 2:1. but nw u will get 3:1. dont compare 200000 and 100000. as per my view we should compare curent liabilities (including bod) and bod. thanks for u r reply

yes i was facing same difficulty but there are not ration its simple division of ratio

300000 will be in 2L and 1L ,,i am sure because i hv solved many similar question before

sukanya (student) (81 Points)
Replied 13 November 2013

@ ankush sharma oh k k. thanks for u r reply.

prince soni (ahmedabad) (21 Points)
Replied 13 November 2013

give me solu... cost&fm plzz tenstion me hi

ankitha jain (student) (27 Points)
Replied 13 November 2013

accounts and costing fm solutions nov 2013

https://shrigurukripa.com/lat4stud.php

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shruti (ipcc) (110 Points)
Replied 13 November 2013

areeee be cool yaarrr sab acha hoga..... kya pata ans. sai na hone pe but logic ko dkh k institute mrks dede..... itna tension mat lo n be olwys haapyy.. n positive.... ans. kuch b ho.... khud pe belive hona jada jaruri h.....!!!! sab log ans. k piche pad gae ho..... tumhe kya pta checkr kya expect krta h.... i knw ans. b mattr krta h par... fir b jab result aae tab dkh lena.....!!!! n be relaxed.... :-) mehnat kri h to kabi waste nai hogi.... investment pe return jarur milega....!!!!!

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