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In the question below I attached the answer... I understand the question except Which is 11,485 amounts, which is there in the Sch- 13.... I.e interest and discount....... Amt...... How 11,485 Rs can anyone explain with logic i attached with an answer for reference.... Kindly tell me pls
Answers (3)
In the given question, it is given that some of the items are already adjusted with "interest and discount". So, we should add back the non-relevant items to "interest and discount". Interest and discount = 10,225 (given) + 740 (Tax provision) + 460 (Provision for doubtful debts) + 60 (Loss on sale of investments) = 11,485
Varshaa M
In the given question, it is given that some of the items are already adjusted with "interest and discount". So, we should add back the non-relevant items to "interest and discount". Interest and discount = 10,225 (given) + 740 (Tax provision) + 460 (Provision for doubtful debts) + 60 (Loss on sale of investments) = 11,485
Sister If it is adjusted why are we adding ?? Could you explain with some basic example pls 🧐
Thread Starter
Balachandar SSister If it is adjusted why are we adding ?? Could you explain with some basic example pls 🧐
Adjusted means subtracted. So, we are adding back.