Forums
Accounting process
Accountancy
answered on 18-Nov-23 07:12
On 31st March 2022 after sale of goods worth ₹2000 he is left with closing inventory of ₹10000 It is event or A transaction Please state with reason
latest answer
Understood rq
Devi sri K
CA Foundation
★ 7K+
7
557
Capital expenditure and revenue expenditure
Accountancy
answered on 17-Nov-23 19:12
The benefit from the expense is spread for not more than one year is Capital expenditure or Revenue expenditure
latest answer
👍
Devi sri K
CA Foundation
★ 7K+
6
410
CONSIGNMENT
Accountancy
answered on 17-Nov-23 00:30
Loading included in closing stock will be eliminated by following entry 1.Stock reserve account debit to consignment account OR 2. Consignment account to stock reserve account Which entry is correct??? 1 or 2 ??
latest answer
2 Entry
Prathmesh Kharul
US CMA All
★ 6K+
1
435
Syllabus Reduction in Chaos
Accountancy
answered on 15-Nov-23 20:14
Sir I see lots of chapters got reduced in new syllabus of CA Intermediate 2024, How do we study those chapters in future ? (out of passion in subject accounts ) Will they be available in Indigolearn? First of all my important doubt is why ICAI omitted all those chapters,do they want the student to learn on their own just like the case of self paced modules ? Are those chapters of any use in articleship or new syllabus of final ? Any testing will be made by ICAI on those chapters cunningly in new syllabus just to make paper tough ?
latest answer
Thank you so much sir
Harish Chandar T
CA Inter
★ 5
2
541
Capital maintenance
Accountancy
answered on 22-Nov-23 16:26
Sir in this sum what is the retained earnings? As per my knowledge R.E=actual closing capital - closing capital required = 13000-14,400 = (1400) Is my Retained earnings answer correct??
latest answer
Retained earnings is zero - since entire earnings have been withdrawn.
Krishnan K
CA Inter
★ 5K+
2
424
CRR & SLR
Accountancy
answered on 10-Nov-23 11:19
CRR & SLR rate for exam purpose.
latest answer
crr 4.5% slr 18%
Jitendra Kumar
CA Final
★ 41K+
1
394
Amalgamation
Accountancy
answered on 10-Nov-23 08:31
What is the entry for 1.to issue to the debenture-holders in S Ltd 8% Mortgage Debentures at Rs.96 in lieu of 6% Debentures in S. Ltd. which are to be redeemed at a premium of 20% , S ltd is transferor company , S ltd had 6% debentures of Rs.200000
latest answer
Thank you
Prethivi Rajan
CA Final
★ 9K+
2
503
General Question
Accountancy
answered on 10-Nov-23 12:31
What is the difference between "Redemption" and "Buy back" of shares?
latest answer
Ok sir got it 👍
Girinath A
CA Inter
★ 765
6
457
AS 22
Accountancy
answered on 09-Nov-23 22:29
When taxable income > accounting income , it is deferred tax asset or DTL ?
latest answer
If taxable income is > , and if it is caused by timing difference, then it is Deferred Tax asset
Neha Baliga
CA Inter
★ 16K+
1
453
Treatment of dividend credited in P&L account by holding company while consolidation of P&L
Accountancy
answered on 09-Nov-23 12:43
I came across with illustration 12 in consolidation of financial statements in institute study material, in that statement saying dividend has been paid by subsidiary company (post acquisition period profit) and holding company credit that in p&l . But in answer the dividend is not reduced in income portion. Also in nov23 rtp (question 11)the same sum was asked in that they reduced dividend portion in income. I also refered December 2021 suggested answer, question 3a, there also dividend not reduced. My contention it has to be reduced, because we will add it in profit and loss under reserves and surplus. Right or wrong?
latest answer
Yes. In consolidated pl
Praveenkumar M
CA Final
★ 8K+
5
701