Forums

Income

Accountancy

answered 1 day ago

Here it is showing that the economic benifits in the form of decrease in liability so my question is how can it be possible that if we pay off our liability then the liability will automatically decrease but that are the obligation which we have to pay How can we consider it as Income Can anyone explain it to me

latest answer

Decrease in liability and increase in equity

Snehashis Mohanty

Snehashis Mohanty

CA Inter

5

1

23

Amalgamation of company - Illustration 15

Accountancy

asked 1 day ago

I had one doubt sir, why you were not taken 10% debenture and loan from A for calculating Purchase consideration. It should be in Building 306000 Inventory 576000 Tr. Receivable 234000 Inventory 198000 Goodwill 216000 Bank 0 Less: Tr. payable (320000) 10%Deb (400000) Loan from A (160000) Net asset 650000 Therefore, B ltd will settle the payment by using cash and Equity share Cash = 600000 -Net asset = 650000 Equity share value = Rs.50000 Issue Price = Rs.125 Equity share =400 shares Amount(125*400) =Rs. 50000 If it is wrong please answer me why we were not taken the same. Thank you, sir

latest answer

No answers yet!!

Nishanth SK

Nishanth SK

CA Inter

0

0

31

As16

Accountancy

asked 2 days ago

I found this qsn & have doubt in this this In Jan all loan repayment was made Feb new loan taken, hence interest will start from feb for the expense made after loan has taken and not for expenditure made before Then why on upto jan 15% pa interest is charged

latest answer

No answers yet!!

Sushmita Chowdhury

Sushmita Chowdhury

CA Inter

705

0

51

As16

Accountancy

answered 2 days ago

Loan taken for 4yrs 12% rs10lac 1/4/2021 = expended 30lac 1/9/2021 = expended 40lac Apr to aug interest on 40lac will be send to pl for general borrowing, for specific borrowing the same is captitalise, why

latest answer

Specific borrowing is for the specific purpose and hence capitalised.

Sushmita Chowdhury

Sushmita Chowdhury

CA Inter

705

2

38

As 16

Accountancy

answered 2 days ago

Discount or premium on REDEMPTION of debenture = borrowing cost ?

latest answer

It will be adjusted to calculate borrowing cost. Not required at Inter Level

Sushmita Chowdhury

Sushmita Chowdhury

CA Inter

705

1

27

As4

Accountancy

asked on 21-Feb-24 00:19

The answer should be ALL (a,b,c). But in book it is given only a and b. Please tell what is the right answer ?

latest answer

No answers yet!!

Code X

Code X

CA Inter

805

0

9

Internal Reconstruction

Accountancy

answered 17 hrs ago

Pg no: 6.19 Illustration: 4 In notes to accounts I have doubt in "issued, subscribed and paid up account". * In pref shares how comes 12000 as shares issued other than cash. * And in eq shares 180000*2.50=450000 then how comes 460000. *And how comes 84000 as shares issued other than cash.

latest answer

1. Preference shares - shares issued against loans 2. 184000 x 2.5 = 460,000 Share issued for other than cash against loan, preference share capital,

Priya Ravi

Priya Ravi

CA Inter

55K+

1

32

Change in accounting policies and estimates

Accountancy

answered 2 days ago

Why we are giving prospective effect in case of change in accounting policy and retrospective effect for change in estimates

latest answer

Tku sir

Shruthi Nachammai

Shruthi Nachammai

CA Foundation

3K+

4

39

AS22 MCQ

Accountancy

answered 17 hrs ago

What should be the answer of Q45??

latest answer

question has asked DTA/DTL remaining calculation not needed. Options are incorrect.

Code X

Code X

CA Inter

805

3

41

Selling exp As 2

Accountancy

answered on 20-Feb-24 18:58

Selling expense is credited to pl why ?

latest answer

They are crediting amount received from sale of containers.

Sushmita Chowdhury

Sushmita Chowdhury

CA Inter

705

5

81

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