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Illustration 4, Ch-8, ICAI new study mat

In the solution, why bank balance of 7,50,000 has been taken as opening balance? Shouldn't it be used while calculating the closing bal i.e. 7,50,000 - 11,250 = 7,38,750. Q. says 7.5L including interest. So only interest should be subtracted. Is ICAI wrong in subtracting interest and investment amount also and adding Deb holder payment to it? For better clarity I have attached the Q + Soln.

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Ishika Goel 282

Ishika Goel 282

CA Inter

2K+

21-Feb-21 00:00

21

Answers (1)

It is an investment a/c interest is received not paid


ruchi lahoti

ruchi lahoti

Moderator

22-Feb-21 11:47

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