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Solution to ipcc adv accounting nov. 2014 paper

shakuntala chhangani (FCA Course co-ordinator WIRC coaching centre) (2525 Points)

17 November 2014

Dear IPCC Students,

Here is the solution for November 2014 advanced accounting paper. The views presented here are my personal views. ICAI has nothing to do with it. Atmost care has been taken while preparing the solution, but still, to err is human. I hope it will help you.

Regards,

CA Shakuntala Chhnagani

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14 Replies

Irvin (...) (51 Points)
Replied 17 November 2014

In d soln depn on building is 2400 @ 5% Bt won't we consider it for 6 months?

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shakuntala chhangani (FCA Course co-ordinator WIRC coaching centre) (2525 Points)
Replied 17 November 2014

@ Irvin... check the note below solution

Piyush Panchal (Not Yet Got Designation) (22 Points)
Replied 19 November 2014

Thank You respected mam for the solution,i just wanted to confirm that apart from the human nill errors all the given answers are true to your knowledge??i am asking because many of mine are actually matching as you provided, i am very tensed and happy too as i don't wanted to give an extra attempt,kindlly reply soon that the answers which are provided by you are true....

Thank You Mam

Regards

Piyush

shakuntala chhangani (FCA Course co-ordinator WIRC coaching centre) (2525 Points)
Replied 19 November 2014

@ Piyush Panchal, do you think I will upload wrong answers to zeroise my goodwill??

Piyush Panchal (Not Yet Got Designation) (22 Points)
Replied 19 November 2014

No never mam i really apologise mam,i had used wrong words Shall i consider all the answer for the future reference mam?? Thank you Regards Piyush

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Irvin (...) (51 Points)
Replied 22 November 2014

Thanks a lot for d soln n Maam I hv considered rate for entire year now it will be considered as wrong?

shakuntala chhangani (FCA Course co-ordinator WIRC coaching centre) (2525 Points)
Replied 23 November 2014

@ Irvinif u write that assumption then it is right.

shikha (student) (124 Points)
Replied 23 November 2014

ive calculated wrong stock reserve for branch ques hw mch mrks would b deducted

shakuntala chhangani (FCA Course co-ordinator WIRC coaching centre) (2525 Points)
Replied 23 November 2014

@ Shikha... I suppose 4 marks

sunny (student) (22 Points)
Replied 10 January 2015

My partnership question is fully correct bt d mistake i commited is dep rate fr buildin i had taken is fr 6 months....nd nor i given dat assumption......so wat u think mam how mch marks do i suppose to get?

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Aritra Majumdar (B.Com(H),CA) (2420 Points)
Replied 14 January 2015

In the sum on esop, i only completed journal entries for the first year.
How many marks am i likely to lose?

shakuntala chhangani (FCA Course co-ordinator WIRC coaching centre) (2525 Points)
Replied 16 January 2015

Dear students, dont think about how many narks will get deducted.. Just concentrate about how much u will get and what mistakes u did so that it will not get repeated next time.

(Guest)

Madam please guide me in Qno 6/- of IPCC Nov 14(Gp 1) how you have done capital adjustments??

ie how you have calculated Bal c/f

shakuntala chhangani (FCA Course co-ordinator WIRC coaching centre) (2525 Points)
Replied 28 January 2015

@ knowledge gainer, I solved it in a reverse way. check the balance sheet. all balances except capital of partners are available. It means capital is the balancing figure which need to be in the equal ratio. and hence it is closing capital. This way you will get cash to be introduced by the partners as balancing figure in capital account. For applying this reverse way, the clsoing cash balance nust be given in the question. you can do it in other way also. similar question is there in your IPCC material with 3 partners Fairbrother, greatbatch and kristen which is solved by alternate method.

Regards,