What is the difference between brought back and buy back

answered on 20-May-23 11:48

Sir explain in detail ha vimps ha

latest answer

Buy back and bought back are same Bought is v2 of buy And you have written 'brought' but it will be 'bought' not brought

Lkg Ydv

ACCA Professional

★ 915

6

398

Payment of preference dividend

answered on 18-May-23 17:48

In this ques, what will be the journal entry to pay dividend on 10% preference shares also what will be the amount (10% of 35000 i e. After dep.profits)

latest answer

Okk sir

Garima Bhargava

CA Inter

★ 185

4

344

Sir in account without format mark deducted

answered on 19-May-23 07:01

Sir and tax also

latest answer

In accounts format is important especially in company final accs, Ppi small small thing will carry makrs don't concentrate on preparation by using an scale and pencil... Do the necessary format and refer the AIR 1 student marksheet which is there under this app For DT also u see the AIR 1 same

R K

ACCA Skill

★ 9K+

1

365

DISSOLUTION OF PARTNERSHIP UNDER PIECE MEAL DISTRIBUTION MAXIMUM LOSS METHOD.

answered on 17-May-23 14:26

IN ILLUSTRATION -5 HAVE CASH BALANCE RS. 500/- AND EXPENSES UNDER REALISATION RS.400/-. IN THE SILUTION DID NOT CONSIDER THE ABOVE SAID AMOUNTS WHY?. IF ASSUME WE CAN PAY EXPENSES FROM AVAILABLE CASH RS.500/- STILL WE HAVE RS 100/- SURPLUS.

latest answer

OK SIR NOTED, THANKS.

Anjaneyulu Goriparthi

CA Inter

★ 15K+

5

484

Rounding off on Average due date

answered on 05-Jun-23 10:14

Sir/ma'am if <0.5 then lower round off? Eg.12.4=12 If >or= 0.5 the upper round off? Eg.12.6=13 12.5=13?

latest answer

if due date is fraction, round it off to the nearest whole number.

Hena Desai

CA Foundation

★ 5

4

244

Provision for bad and doubtful debts

answered on 17-May-23 00:04

1)In some problems, when credit balance of PBDD is given, and debit PBDD is found in adjustments, the net amount is written in P and L a/c 2)But in some problems, PBDD a/c is drawn, bad debts are written off and then the amount to be taken to P and L a/c is ascertained. When to do 1 and when to do 2??

latest answer

I got the answer, thank you

Jaswanth P

CA Inter

★ 3K+

1

320

Forfeiture of shares

answered on 17-May-23 11:34

Is this correct: Forfeiture shares a/c 50,000 To Capital Reserve a/c 50,000

latest answer

It is also correct

Lathika

CA Inter

★ 6K+

5

359

Assets held for marketing purpose

answered on 21-May-23 07:35

Does assets held for marketing purpose qualify to be an PPE

latest answer

Yes it will qualify

Atharv Sankliya

CA Final

★ 3K+

2

224

Creation of CRR

answered on 17-May-23 12:08

CRR (capital redemption reserve) is to be created on the same day the company redeems preference shares(PS), or can be created at the end of Financial year in which redemption of PS took place . For eg. In FY 2022-23, Redemption too place on 28 January, 2023, so CRR has to be created on 28 Jan 2023 only, or we can also create it on 31 March 2023 (end of same FY in which redemption took place)?

latest answer

Ok sir

Garima Bhargava

CA Inter

★ 185

2

363

Redemption of preference shares

answered on 16-May-23 20:00

We know there are 2 ways we can redeem preference shares (PS), one is by making fresh issue of shares and other is transferring divisible profits to CRR. All this to provide protection of creditors n outside liabilities. The question is, no doubt by fresh issue we can bring in money/funds (BCz it will increase bank balance) and then creditors can be assured that they can be paid from those funds later, if need arises (since redemption of PS would've decreased the bank funds) BUT in case we create CRR out of divisible profits, we are not introducing any additional funds/bringing any money into the company, rather we are just transferring from one reserve to another and asset side of balance sheet doesn't increase (funds doesn't increase in this case) then how can creditors feel assured/protected by creation of CRR? And even tho we created CRR, the bank bal.would've decreased on asset side. Also CRR can be used later just to issue bonus shares (ie. It increases capital ultimately), but bonus issue is optional, what if company never issues bonus out of CRR and let CRR remain same/maintained till eternity, how can creditors feel safe with CRR balance? Can CRR bal.be directly used to pay off creditors later during liquidation (so that they will feel secure with CRR balance too)

latest answer

Ok sir, thanks for clearing

Garima Bhargava

CA Inter

★ 185

4

319