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Preparation of final accounts of sole proprietor
Accountancy
answered on 28-Sep-23 11:34
Can anyone explain the working note of interest accrued on investment and deposit?
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Thankyou guys 🙏🙏🙏
Divinne Fiona
CA Inter
★ 9K+
11
275
AS-13
Accountancy
answered on 27-Sep-23 23:06
If a company purchase shares of another company of rs 8 lac by the way of exchanging it's machinery having book value of Rs- 10 lac so what will be the cost of acquisition of investment as per AS-13
latest answer
More evident means more clear. Say the asset we are giving up doesn’t have a clearly determined FV because its not actively traded in market.
Atharv Sankliya
CA Final
★ 3K+
3
284
Independent barnches
Accountancy
answered on 26-Sep-23 09:18
Goods sent to branch at 10% cost plus and sold goods at invoice price plus 25%. While calculating closing stock the stock will be calculate at whole shale price.hence, the cl st should be 84k*110/125 know why in this sol 100/125 considered?
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Tq
Ujwal Reddy
CA Inter
★ 7K+
2
245
Adjustment doubt in adv accounting
Accountancy
answered on 26-Sep-23 09:22
In solution explain the 3. Journal entry. Kindly elaborate it.
latest answer
First of all we write off 7% preference share so we debited 6,00,000 and issue 4 new 5% preference share 4 per 1 share of 10rs so 12000 share holder * 4*10 =4,80,000 credited and new equity share issued 12,000 preference share holder s *6 per share *2.5rs = 1,80,000 and remaining balance debited to capital reduction a/c
Revathy N
CA Final
★ 9K+
2
266
AS 2 Valuation of inventories
Accountancy
answered on 26-Sep-23 13:26
I have a doubt in the illustrations in AS 2, valuation of inventories. The 14th illustration part b. The NRV is lesser than cost, but in solution its given otherwise
latest answer
So sales commission will be reduced to compute NRV
Jeffy Fredline
CA Inter
★ 60
9
258
Amalgamation
Accountancy
answered on 26-Sep-23 16:26
Dear Team, In the attached example, components of statutory reserves are treated separately from Reserves and Surplus, 1st Query :- what are the other components of statutory reserve. 2nd Query:- what are the other components of reserves & surplus,other than retained earning, revaluation resv, statement of changes in equity etc.
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Thankyou Sir.
Namrata Lall
CA Inter
★ 0
6
294
AS-13 acquisition of shares by the way of exchange of other assets
Accountancy
answered on 24-Sep-23 17:52
What is the meaning of this point ? Please explain with example?
latest answer
If you invt. Some amount in a company, but after few days you need an asset and the amount you invt. in a company is going to sell that asset. So if you need that asset you can exchange the invt. with that asset. Ex: X ltd make an invt. at Z ltd. After few days, Z ltd is going to sell a machinery. X ltd are also need that machinery. So X Ltd made an exchange of Machinery with that invt.
Atharv Sankliya
CA Final
★ 3K+
1
257
Depreciation EASY
Accountancy
answered on 26-Sep-23 11:47
In this sum , as on end of 8th year , we know that the residual value and useful life have changed. But why in this sum , as on end of 8th year ,we not accounted for change and accounted for change in depreciation from year 9 onwards.
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Thank you ❤️
Krishnan K
CA Inter
★ 5K+
9
283
SLR Ratio?
Accountancy
answered on 24-Sep-23 10:14
iIllustration 1-Unit 6 - Banking Comp- pg.8.90 Is the SLR 18% or 23%? in the book it is given as 23% while calculating excess liquidity?
latest answer
23% is older ratio. Now it is 18%
Aabith Sha
CA Inter
★ 8K+
1
280
Partnership
Accountancy
answered on 24-Sep-23 11:40
X,Y and Z are partners in the ratio of 3:2:1. W is admitted with 1/6th share in future profits .Z would retains his original shares. Find out the new profits sharing ratios of the partners
latest answer
If u work out I'll get an answer of 12:8:5: 5 check it out 🙂
G.kavitha G
CMA Inter
★ 515
1
306