Realisation account

answered on 30-May-23 19:55

Does company prepare realisation account during it's liquidation to close the books ?

latest answer

Statement of Affairs is prepared

Atharv Sankliya

CA Final

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Liquidator's final statement of account

answered on 30-May-23 09:12

Does liquidator's final statement of account considered as part of financial books of accounts And does the balance of all. The assets and liabilities are transferred to this account?

latest answer

Yes

Atharv Sankliya

CA Final

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Accounts

answered on 30-May-23 09:13

What is the formula to arrive at invoice price from cost price?

latest answer

Ok

Nidhi S

CA Inter

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Expense related to next accounting year

answered on 29-May-23 08:30

In which year (current or next accounting year) the expense related to the sale of next year is recorded Like if a company advertise for its products which is to be launched next year?

latest answer

Revenue cannot be directly attributed to advertisements.

Atharv Sankliya

CA Final

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Asset Fully Depreciated but it is still useful,

answered on 30-May-23 10:19

Sir, An asset which is fully depreciated in the books ,but it can be used still in the business. In such a case ,do we have to to show again this asset in our books, if so what should be the entry to bring asset again into our books of accounts. . For Example an asset of Rs10000 (use full life is 5 years) yearly depreciation is Rs.2000.00. By the end of 5th year that asset will not be in our books. But it can be used for 3 more years. So how to show this in our books. Please guide me sir.

latest answer

Under cost model (an accounting method) the asset is carried at its cost less accumulated depreciation

Thankachan Jimmy

CMA Inter

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280

Hire Purchase

answered on 02-Jun-23 22:12

In the question in the picture attached how is interest computation done ? They have mentioned in the (iii) as plus interest , it means 3,00,000 is exclusive of interest right ?

latest answer

Yes

sradha krishna sunil

CA Final

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Hire Purchase

answered on 26-May-23 14:35

Why is the instalment amount paid shown in the Happy A/c without separately adding interest in the question ? Is it because the instalment figure at the end of the year given ?

latest answer

Pls share the account that you are referring to.

sradha krishna sunil

CA Final

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231

Buy back

answered on 26-May-23 14:41

In buyback, In post debt equity test , Here debt means short term debt , long term debt , secured debt , unsecured debt and includes all current liabilities like creditors, bills payable etc.. Am I correct in definition of debt in this chapter

latest answer

All short term and long term debt. Only loan. Does not include current liabilities like creditors.

Krishnan K

CA Inter

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Sir is acca ca se easy hai difficult hai

answered on 26-May-23 14:37

Sir. Because one time me only one paper hi likhana rahta hai

latest answer

The papers are set at a difficulty level more or less comparable to that of CA. Also long form questions make it challenging.

R K

ACCA Skill

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AS7

answered on 25-May-23 11:25

In Example 3, without any information about the estimation of loss in the question. They have debited provisions for loss . Pls reason the above

latest answer

Out of total expected loss - 30 is recognised. Balance 20 needs to be recognised by way of provision.

Deborah Susaiyappan

CA Inter

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