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ACCOUNTS - GROUP 1

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Guest

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Guest (Querist)
27 August 2010 I have a doubt actually in this problem. (IPCC GROUP 1 - INVESTMENT ACCOUNTS)

Anurag holds 16% of debentures in S Ltd. Opening balance as on 1/1/04 face value Rs 60000 (Cost is Rs 59000).
On 1/3/04 100 units purchased ex interest at Rs 98.

On 1/10/04 purchased 50 debentures at Rs 98 cum interest.

He closes his books every 31st Dec. Interest dates are 30th September and 31st March.



I just wanted to know how the calculation of interest is done in these 2 cases. And could you explain why so ans so months interest is taken in these cases with a logical reason.

Thanks

Regards

Mohit
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
27 August 2010 Cum Interest means the price includes the interest also, Ex interest is the price which is not include the Interest. Suppose price of Securiies Rs.100 and Interest 3 ( Cum interest Price will be Rs.103 and Ex interest price will be Rs.100)
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