Friends for arriving at clear profits v ve Reduce a contingency reserve of 0.25% of OC of FA from the given profits right ? General Reserve was not required since its already in excess of 8% of OC of FA
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Electricity Problem in Accountancy exam PCC 2010
Replies (5)
hi i want to ask one question in electricity comp..
hey guys plz tell me do we hv to multiply intangible assets by 12 for the pcc a/cts paper as it wa given monthly average..............................
plz rep;y at mail id pratikcoolstar @ yahoo.com
Nope buddy..
consider every month i ve intangiable of 100 @ the end of the month
so if u workout the average it will be 1200/12=100 and u can consider it as the amount for the purpose of capital base...
so no multiplication just give an assumption that this amount is the same troughout the year and therefore average = closing
SO MY FRND IF I HV MULTIPLIED IT I THINK THE WHOLE SUM GOES WRONG NO YAR..........???
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