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NBFC
Accountancy
answered on 06-Nov-23 21:08
Jan 21 examination ques 3.b How will ICAI classify “75 accounts for 4 months ( Amt overdue 64 lakhs ) as STANDARD ASSET???
latest answer
NOOOOO. Once there are no payments towards interest or principle or on demand or call for a period of three months it becomes "NPA" not "SUB STANDARD" if it stays NPA for a period of 12 months or more it becomes "SUB STANDARD" understand the provisions clearly. Your confusing the provisions of banking company with nbfc. In banking an account automatically becomes SUB STANDARD on being classified as NPA. in NBFC an account becomes SUB STANDARD after 12 months or 18 months depending upon SI or NSI becoming NPA. Understand the difference.
kowselyaa G
CA Final
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11
504
Doubt
Accountancy
answered on 06-Nov-23 13:37
I am confused between BALANCE B/D AND BALANCE C/D please help. Even I am confused in Dr Bal and Cr bal of Cashbook and passbook
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Dr. Balance in cash book - Its an asset - receivable from bank Cr. balance in cash book - liability - payable to pank Dr. Balance in passbook - Bank has to receive / we have to pay Cr. balance in passbook - Bank has to pay us / we need to receive. So whereever you see a debit balance - think of it as an asset and receivable. So if bank passbook has dr balance - Bank's Asset - Bank to receive.
Prathmesh Kharul
US CMA All
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2
471
Adv acc Banking company
Accountancy
answered on 05-Nov-23 19:25
P & L Nov 19 ques paper Ques 4 a *How come they have computed interest / discount to be 114,85 for the yr 2018- 19?
latest answer
Loss on sale of investment should be deducted from profit on sale of investment or should be shown in operating expenses. Since it was deducted from interest and discount it should be added back.
kowselyaa G
CA Final
★ 2K+
5
396
Depreciation
Accountancy
answered on 06-Nov-23 09:21
6 X purchased a machinery on 1st January 2017 for Rs. 4 80,000 and spent Rs. 20,000 on its installation. On July 1, 2017 another machinery costing Rs. 2,00,000 was purchased On 1st July, 2018 the machinery purchased on 1st January, 2017 having become scrapped and was sold for Rs. 2,90,000 and on the same date fresh machinery was purchased for Rs. 5,00,000, Depreciation is provided annually on 31st December at the rate of 10% p.a. on written down value. Prepare Machinery account for the years 2017 and 2018 Loss on sale of Machine Rs. 1,37,500, Closing Balance of Machine: Rs.6,46,000
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What is your doubt in this?
Sonia Arora
CA Foundation
★ 0
2
768
AS 20 sum
Accountancy
answered on 05-Nov-23 19:26
In this sum...while computing BASIc EPS why convertible debentures issued taken in WANES?....................and the same (10lakh shares)is also divided by 2......why?
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You are welcome 🤗
kalees waran
CA Final
★ 195
5
477
NBFC
Accountancy
answered on 05-Nov-23 16:01
Can anyone share me NBFC handwritten notes.
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Thanks a lot
kowselyaa G
CA Final
★ 2K+
5
584
Advanced acc - NBFC
Accountancy
answered on 07-Nov-23 11:52
Illus 3 “4 accounts Amount over due rs. 20 lacs - already identified as substandard assets “ What does already identified mean ?
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They have to be classified.
kowselyaa G
CA Final
★ 2K+
1
351
AS-10 : Property plant and equipment
Accountancy
answered on 04-Nov-23 21:19
Cost incurred after PPE is ready for use but is not put to use / partially put to use is not included in cost of PPE . Explain!
latest answer
Got it. Thank you!
Gungun Lahoty
CA Inter
★ 325
2
401
As 16
Accountancy
answered on 03-Nov-23 17:02
Yesterday question paper Is my answer correct??
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Thank you sir
Krishnan K
CA Inter
★ 5K+
2
489
Order
Accountancy
answered on 07-Nov-23 11:55
Can anyone please let the the sequence to study AS 1-29 to be able to learn conveniently? Please
latest answer
Rest after that. Amalgamation, Cashflow, Consolidation along with main chapters.
Sathya Moorthy
CA Inter
★ 340
8
381