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How was today's accounts 2 paper guys?

harsh (a) (81 Points)

11 May 2016

Did anyone attempt liquidation and buy back questions. I couldn't find that type of questions in the Tulsian book that I refer. They were very different.

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Shreyansh Agarwal (CA student) (91 Points)
Replied 11 May 2016

In buy back whether bonus share is to be include in paid equity share capital

harsh (a) (81 Points)
Replied 11 May 2016

I wasted 5 mins thinking about that and there was also a balance of share option outstanding.

khushi sharma (student) (100 Points)
Replied 11 May 2016

that's a very confusing part
I think bonus share is part of share capital that's why I'll show it separately in share capital and still confused for treatment of share option outstanding 😞😞😞

mehul (ca) (34 Points)
Replied 11 May 2016

share option outstanding is not part of share capital its part of reserve and surplus

2 Like

khushi sharma (student) (100 Points)
Replied 11 May 2016

bonus share is part of share capital na
plz tell

Sudheesh (-) (68 Points)
Replied 11 May 2016

In the partnership question, i made journal entries for revaluation. I transferred revaluation profits to capital accounts and prepared the balance sheet.. prepared 3 partners capital accounts combined together and balance sheet got tallied. I did all the adjustments correctly.. But in the practice manual the method done is very different.. Will I get any marks for this question? Please tell me

Sudheesh (-) (68 Points)
Replied 11 May 2016

What about banking question? Investment book value was not given in the question.. so shud we take it in the profit and loss account? Please reply to both my comments :(

harsh (a) (81 Points)
Replied 11 May 2016

@ sudheesh In partnership, you can solve by

2 Like

Tsering Phunchok Gurung (Student CA Final ) (58 Points)
Replied 11 May 2016

Assume there is no change in value of investment..

Sudheesh (-) (68 Points)
Replied 11 May 2016

Solve by ??

1 Like

Sudheesh (-) (68 Points)
Replied 11 May 2016

Yes. Thats what i did. So it wont affect the profit and loss account right? they just gave it to confuse us.. :O

Yashika Jain (Article Assistant) (178 Points)
Replied 11 May 2016

Liquiation ques is in Study Material

1 Like

ThakurAnshdeepSingh (student) (92 Points)
Replied 11 May 2016

Most of the Paper was PM/SM based. But it was too damn lengthy. 1) a) It was AS 4 but there were 5 parts of the same. All in all question 1 had 9 sub parts. Although easy, it still takes time to write and not all have same writing speed. My partnership is wrong, liquidation difference of 1lac in deficiency ac and yes in banking there was no value of investment so solved the question without P/L on revaluation of investments.