Dear IPCC Students,
Here is the solution for November 2014 advanced accounting paper. The views presented here are my personal views. ICAI has nothing to do with it. Atmost care has been taken while preparing the solution, but still, to err is human. I hope it will help you.
Regards,
CA Shakuntala Chhnagani
@ Irvin... check the note below solution
Thank You respected mam for the solution,i just wanted to confirm that apart from the human nill errors all the given answers are true to your knowledge??i am asking because many of mine are actually matching as you provided, i am very tensed and happy too as i don't wanted to give an extra attempt,kindlly reply soon that the answers which are provided by you are true....
Thank You Mam
Regards
Piyush
@ Piyush Panchal, do you think I will upload wrong answers to zeroise my goodwill??
@ Irvinif u write that assumption then it is right.
ive calculated wrong stock reserve for branch ques hw mch mrks would b deducted
@ Shikha... I suppose 4 marks
In the sum on esop, i only completed journal entries for the first year.
How many marks am i likely to lose?
Dear students, dont think about how many narks will get deducted.. Just concentrate about how much u will get and what mistakes u did so that it will not get repeated next time.
Madam please guide me in Qno 6/- of IPCC Nov 14(Gp 1) how you have done capital adjustments??
ie how you have calculated Bal c/f
@ knowledge gainer, I solved it in a reverse way. check the balance sheet. all balances except capital of partners are available. It means capital is the balancing figure which need to be in the equal ratio. and hence it is closing capital. This way you will get cash to be introduced by the partners as balancing figure in capital account. For applying this reverse way, the clsoing cash balance nust be given in the question. you can do it in other way also. similar question is there in your IPCC material with 3 partners Fairbrother, greatbatch and kristen which is solved by alternate method.
Regards,
CAclubindia
