QUERIES ON PCC ACCOUNTS

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yeahh sure....v shud discuss.....

Wha is the topic

hii

m neha

maine last may 09 main praveen sir ki satellite class li thi. is dere sum hwo take d same. mujhe classes ki dates chahye...plz if dere sum one..plz help me..my mail id is nehagarg2398 @ yahoo.com

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kindly explain Markup accounts?

mark up a/c is that where we show all the profit elements

the total profit is credited & then we debit all the profit which is unrealised to get the net profit

or in simpler words it is a a/c of unloading

I HAVE A PROBLEM IN CFS

1. IN BALANCE SHEET L& B VALUED @ Rs.2LAKH & 1.5 LAKH @ 31ST MARCH 2002 & 2003 RESPECTIVELY

& IN ADJUSTMENT IT IS GIVEN THAT A PEICE OF LAND COSTING Rs.1.2LAKH SOLD FOR Rs.1.5 LAKH & THE BALANCE LAND WAS REVALUED. CR CONSISTED OF PROFIT ON SALE & PROFIT ON REVALUATION

WHT'S THE TREAMENT?///

2. IN BALANCE SHEET VOLUNTARY SEPARATION PAYMENTS ARE GIVEN @  ASSET SIDE

WHT IS THE TREATMENT

IN RTP ASI-1, 10, 12, 14, 29 & 30 MENTION WHICH IS APPLICABLE FOR US

WHT ARE THESE & IF ANYBODY HAS THERE DETAILS PLZ SEND IT TO ME @ payal9891 @ gmail.com/ payal_9891 @ yahoo.com/

well.....in CFS..... Prepare land n building a/c & cr sale of lan n builing(1.5 lac), closing bal. & dr. opn bal n profit on sale of land.i.e. 30000 & bal 70000 will b profit on revaluation...... so profit will be deducted frm oprating activities n sale will b treated in investing activity.......

Voluntary separtion cost is extraordinary item.....it will b traeted at the end of question......

Originally posted by : Payal Gupta
	I HAVE A PROBLEM IN CFS 1. IN BALANCE SHEET L& B VALUED @ Rs.2LAKH & 1.5 LAKH @ 31ST MARCH 2002 & 2003 RESPECTIVELY & IN ADJUSTMENT IT IS GIVEN THAT A PEICE OF LAND COSTING Rs.1.2LAKH SOLD FOR Rs.1.5 LAKH & THE BALANCE LAND WAS REVALUED. CR CONSISTED OF PROFIT ON SALE & PROFIT ON REVALUATION WHT'S THE TREAMENT?///

prepare L&B a/c

Op Bal = 200000

(-) Sale = -150000

+ Profit = 30000

- closing balance = 150000

therefore revalation profit will be balancing figure on debit side = 150000+150000-200000-30000 = 70000

there will be no treatment of revaluation reserve & profit on sale since this profit is credited to Capital Reserve not to P&L A/c. 

u have to add Sale Consideration i.e. Rs. 150000 in investing activities..

Reply back for more queries.

Rgds,

G9!

Originally posted by : Payal Gupta
	2. IN BALANCE SHEET VOLUNTARY SEPARATION PAYMENTS ARE GIVEN @  ASSET SIDE WHT IS THE TREATMENT

this is an extraordinary item only...