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P & L Nov 19 ques paper Ques 4 a *How come they have computed interest / discount to be 114,85 for the yr 2018- 19?

kowselyaa G

CA Inter

★ 2K+

05-Nov-23 18:05

274

Answers (5)

Is there a opening balance in rebate on interest and discount account. If yes, that should answer the question

Ashwin Kumar

CA Inter

★ 12K+

05-Nov-23 19:03

It's 10225 + 740 + 460 + 60

Ashwin Kumar

CA Inter

★ 12K+

05-Nov-23 19:04

Ashwin Kumar

It's 10225 + 740 + 460 + 60

60??? It should be deducted from other income

Thread Starter

kowselyaa G

CA Inter

★ 2K+

05-Nov-23 19:06

I am not getting it.

Thread Starter

kowselyaa G

CA Inter

★ 2K+

05-Nov-23 19:07

Loss on sale of investment should be deducted from profit on sale of investment or should be shown in operating expenses. Since it was deducted from interest and discount it should be added back.

Ashwin Kumar

CA Inter

★ 12K+

05-Nov-23 19:25