CA IPC NOV 14 ADVANCE ACCOUNTING SOLUTION

Here today I am submitting the solution of

IPC NOVEMBER 2014 ADVANCE ACCOUNTING

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Q1 A. Unearned Finance Income = 1,93,212

Q1 B. Opening Revenue Reserves A/c  Dr.    16 lakhs

                                   To Intangible Asset A/c 16 lakhs

Q1 C. 42,000 X 4 months / 6 months = 28000

Q2. PUCHASE CONSI. Rs.3,79,600

Q3 A.  Bank A/c 25000

          Esop A/c 45000

                          TO Equity Share Cap. 5000

                          TO Sec. Prem 65000

Q5 A. Premium 7556000

  Claims 5163000

Commission 157000

Operating 190000

Q5b Tier 1 Capital 726.10

Risk weighted 11,083

= 6.55%

Q6 B. Net Profit 3,18,078

IN THE END ALL THE SOLUTIONS OF IPC NOVEMBER ARE IN DETAIL 

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