As-7

Originally posted by : Mihir Manohar
	An amount of Rs 9,90,000 was incurred on a contract work upto 31-3-2010. Certificates have been received to date to the value of Rs 12,00,000 against which Rs10,80,000 has been received in cash. The cost of work done but not certified amounted to Rs22,500.It is estimated that by spending an additional amount of Rs60,000 (including provision for contigencies) the work can be completed in all respects in another two months.The agreed contract price of work is RS12,50,000.Compute a conservative estimate of the profit to be taken to the Profit and Loss Acoount as per AS-7

Question from Nov 2010 IPCC Accounting Paper.
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Kindly refer to Q.7(c) on Page No. 27 for ICAI suggested answer from the file attached herewith.

Hey thanks Deepak...  can you send me the link where i can get such solved answers of the past papers?.... I am in great need of that.

Originally posted by : Mihir Manohar
	Hey thanks Deepak...  can you send me the link where i can get such solved answers of the past papers?.... I am in great need of that.

Archives - Suggested Answers - IPCC

https://www.icai.org/post.html?post_id=6380
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> May 2012

> November 2011

> May 2011

> November 2010

> May 2010

> November 2009

Professional Competence Course (PCC)

(Posting PCC Suggested Answers as well since the syllabus was the same, except few topics)

https://www.icai.org/post.html?post_id=5547
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> Compilation of Suggested Answers Professional Competence Course( PCC) Advanced Accounting
 

> Compilation of Suggested Answers Professional Competence Course( PCC) Cost Accounting
 

> Compilation of Suggested Answers Professional Competence Course( PCC) Financial Management
 

> Compilation of Suggested Answers Professional Competence Course( PCC) Taxation
 

> Compilation of Suggested Answers Professional Competence Course( PCC) - Paper – 6A : Information Technology
 

> Compilation of Suggested Answers Professional Competence Course( PCC) - Paper - 6B : Strategic Management
 

> Compilation of Suggested Answers Professional Competence Course( PCC) Auditing and Assurance
 

> Compilation of Suggested Answers Professional Competence Course( PCC) Law, Ethics and Communication