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Suggested answer May 2018 - Audit and Assurance

Hello Everyone, Welcome to by Blog, here under are my suggested answers for audit assurance exam for IPCC/Inter Old course paper happened on 13th May 2018.

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Comments

  1. bro,, thank u so much bro.. no one has the gut to produce suggested before u,, thanks a lot,, u have rejoiced my heart beats

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    2. bro.. how much marks will be awarded in amalgamation if i have done mistake computation in share calculation between two company, even when balance sheet got tallied

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Finally, prepared a suggested answers for all the questions except Q2 and Q4, just go through it and let me know if you have different opinion or point to solve it. 1(a) Provision to be made for warranty under AS29  Amount At 31st March 2017 = 80,000 X 2% + 50,000 X 3%           3,100 At 31st March 2018 = 50,000 X 2% + 180000 X 3%           6,400 Amount to be debited to SPL for 31st March 2018 Balance of provision required as on 31st March 2018           6,400 Less opening balance         (3,100) Amount debited to SPL           3,300 No provision for 80,000 for 31St March 2018 because  warranty has lapsed 1(b) ...