EXAMS ARE LIKE A MONTH AWAY SO LETS START DISCUSSING OUR DOUBTS IN PCC ACCOUNTS?
16 Replies
SIDHARTH DHIR
(senior articled assistant)
(623 Points)
Replied 30 March 2010
ANYBODY WANTS TO START?
neha garg
(article)
(24 Points)
Replied 02 April 2010
hii
m neha
maine last may 09 main praveen sir ki satellite class li thi. is dere sum hwo take d same. mujhe classes ki dates chahye...plz if dere sum one..plz help me..my mail id is nehagarg2398 @ yahoo.com
SIDHARTH DHIR
(senior articled assistant)
(623 Points)
Replied 06 April 2010
TOPIC- AMALGAMATION
PARTNERSHIP
DEPARTMENTAL
SIDHARTH DHIR
(senior articled assistant)
(623 Points)
Replied 08 April 2010
kindly explain Markup accounts?
Payal Gupta
(article assistant)
(176 Points)
Replied 11 April 2010
mark up a/c is that where we show all the profit elements
the total profit is credited & then we debit all the profit which is unrealised to get the net profit
or in simpler words it is a a/c of unloading
Payal Gupta
(article assistant)
(176 Points)
Replied 11 April 2010
I HAVE A PROBLEM IN CFS
1. IN BALANCE SHEET L& B VALUED @ Rs.2LAKH & 1.5 LAKH @ 31ST MARCH 2002 & 2003 RESPECTIVELY
& IN ADJUSTMENT IT IS GIVEN THAT A PEICE OF LAND COSTING Rs.1.2LAKH SOLD FOR Rs.1.5 LAKH & THE BALANCE LAND WAS REVALUED. CR CONSISTED OF PROFIT ON SALE & PROFIT ON REVALUATION
WHT'S THE TREAMENT?///
Payal Gupta
(article assistant)
(176 Points)
Replied 11 April 2010
2. IN BALANCE SHEET VOLUNTARY SEPARATION PAYMENTS ARE GIVEN @ ASSET SIDE
WHT IS THE TREATMENT
Payal Gupta
(article assistant)
(176 Points)
Replied 11 April 2010
IN RTP ASI-1, 10, 12, 14, 29 & 30 MENTION WHICH IS APPLICABLE FOR US
WHT ARE THESE & IF ANYBODY HAS THERE DETAILS PLZ SEND IT TO ME @ payal9891 @ gmail.com/ payal_9891 @ yahoo.com/
anamika
(article assistant)
(24 Points)
Replied 12 April 2010
well.....in CFS..... Prepare land n building a/c & cr sale of lan n builing(1.5 lac), closing bal. & dr. opn bal n profit on sale of land.i.e. 30000 & bal 70000 will b profit on revaluation...... so profit will be deducted frm oprating activities n sale will b treated in investing activity.......
anamika
(article assistant)
(24 Points)
Replied 12 April 2010
Voluntary separtion cost is extraordinary item.....it will b traeted at the end of question......
CA Ruben Balooni
(Professionalism ™)
(1324 Points)
Replied 14 April 2010
| Originally posted by : Payal Gupta | ||
 |
I HAVE A PROBLEM IN CFS 1. IN BALANCE SHEET L& B VALUED @ Rs.2LAKH & 1.5 LAKH @ 31ST MARCH 2002 & 2003 RESPECTIVELY & IN ADJUSTMENT IT IS GIVEN THAT A PEICE OF LAND COSTING Rs.1.2LAKH SOLD FOR Rs.1.5 LAKH & THE BALANCE LAND WAS REVALUED. CR CONSISTED OF PROFIT ON SALE & PROFIT ON REVALUATION WHT'S THE TREAMENT?/// |
 |
prepare L&B a/c
Op Bal = 200000
(-) Sale = -150000
+ Profit = 30000
- closing balance = 150000
therefore revalation profit will be balancing figure on debit side = 150000+150000-200000-30000 = 70000
there will be no treatment of revaluation reserve & profit on sale since this profit is credited to Capital Reserve not to P&L A/c.
u have to add Sale Consideration i.e. Rs. 150000 in investing activities..
Reply back for more queries.
Rgds,
G9!
CA Ruben Balooni
(Professionalism ™)
(1324 Points)
Replied 14 April 2010
| Originally posted by : Payal Gupta | ||
|
|
2. IN BALANCE SHEET VOLUNTARY SEPARATION PAYMENTS ARE GIVEN @ ASSET SIDE WHT IS THE TREATMENT |
|
this is an extraordinary item only...
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