Solution to ipcc fm november 2014 paper

Page no : 2

sneha (student) (209 Points)
Replied 17 November 2014

superbb claeifiedd my doubtss abt myy answersss... thanqq mam a lottt...

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Sadique Ahmed (student) (52 Points)
Replied 17 November 2014

Yippee tanx a ton madam !!!!

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

@ Aksh*t bajaj, u can see it is a typing mistake. the answer is taken considering 10 days and 20 days only. Secondly, I have already mentioned that in the absence of information, i have assumped opportunity cost @ 10%. If u dont assume it, there is no question of opportunity cost. Not even on sales.

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

@ Raman Bhatia.. Even though long term debts are given nil, if u follow all other instructions, ur balance sheet will not tally as Net worth is given as 90% of Fixed assets. There is mistake in the question. thats why bal. figure taken as debt.

Raman Bhatia (student) (99 Points)
Replied 17 November 2014

Okie mam..thnx a ton..:) plzz upload costing answers asap..:)

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Sadique Ahmed (student) (52 Points)
Replied 17 November 2014

Madam can u plz tell me the answr of qstn no 3a) budget ??? Please !!!!

arpit jain (ty bcom) (43 Points)
Replied 17 November 2014

nov 13 ke ipcc ke xams mein ek co final acs ka sum aaya tha..usme credit side pe Equity share capital, fully paid of rs 10 each ' And debit side pe Call in arrears hai. Agar shares fully paid haii toh calls in arrears kaise aaya??? Plzz mam solve my doubt.

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

@ sadique Ahmed it is at 50% Rs. 7,50,000 and at 60% Rs. 3,31,200

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

@ Arpit Jain... it is a mistake in the paper

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arpit jain (ty bcom) (43 Points)
Replied 17 November 2014

Thnx u mam. Thanx a alott

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shardendu pathak (sorry) (25 Points)
Replied 18 November 2014

Mam I think by mistake u give wrong answer of Q5(d).....its about lease not leverage

shardendu pathak (sorry) (25 Points)
Replied 18 November 2014

Can u plz upload cost solution........

Ankit (a) (23 Points)
Replied 18 November 2014

Ma'am, in the qtn of ratios, can't the balancing figure be taken as reserves and surplus of the current year

shakuntala chhangani (FCA Course co-ordinator WIRC coaching centre) (2525 Points)
Replied 18 November 2014

@ Shardendu Pathak... yes, ur observation is correct. But Operating and finance lease are not there in FM so I thought it must be the mistake and I considered it as Operating and Financial leverage. If u take it as it is, u can apply AS 19 to write the answer

Regards,

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shakuntala chhangani (FCA Course co-ordinator WIRC coaching centre) (2525 Points)
Replied 18 November 2014

@ Ankit ....Reserves and surplus is the part of net worth. the question has already mentioned that it is 25% of equity capital. So this assumption will not work