Forums
Company a/c
Accountancy
answered on 13-Jun-23 13:00
Journal entry for the question
latest answer
Shares Applied for: 1500 Share Issued / forfeited: 600 Pro-rata: 1500:600 = 5:2 Paid Value + premium = 7 + 2 Unpaid Value + premium = 3 + 1 Since Application and Allotment value is not specified, we assume that there is no excess payment to be adjusted in call money Journal Entries in the books of Tushar Ltd. Share Capital A/c Dr. (600 x 10) 6,000 To Share first and final call A/c (600 x 3) 1,800 To Share Forfeiture A/c (600 x 7) 4,200 (600 Shares forfeited for non-payment of first & final call money) Bank A/c Dr. (400 x 9) 3,600 Share Forfeiture A/c Dr. (400 x 1) 400 To Share Capital (400 x 10) 4,000 (400 Shares reissued at Rs.9 as fully paid up) Bank A/c Dr. (100 x 11) 1,100 To Share Capital (100 x 10) 1,000 To Securities Premium A/c (100 x 1) 100 (100 Shares reissued at Rs.11 as Rs.10 paid up) Share Forfeiture A/c Dr. (400 x 1) 3,800 To Capital Reserve A/c 3,800 (Excess in Share forfeiture transferred to Capital Reserve A/c)
Diya Kandoi
CA Inter
★ 0
3
352
bank o/d
Accountancy
answered on 12-Jun-23 20:21
Where this shall be disclosed?
latest answer
It is Assumed that It will repaid in one year so short term borrowings If no idea about repayment then long term borrowings In Practical Life it is shown in loans and liabilities
Sugam SM
CA Final
★ 9K+
3
330
AS 10
Accountancy
answered on 16-Jun-23 09:31
if discount/rebate is received in RECOVERABLE tax then why is it deducted from cost of asset?
latest answer
ITC will be 180. Asset will be at 980 Total amount paid 1160
Sushmita Chowdhury
CA Inter
★ 2K+
6
425
Consignment
Accountancy
answered on 12-Jun-23 15:58
1)Should we take only Consignor's Expenses(Non-Recurring)while calculating abnormal loss?.. 2)Should we take Both Consignor's and consignee's Non-recurring expenses while calculating Value of Closing Inventories?
latest answer
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Sr the Unique
CA Inter
★ 10
5
511
Paper presentation Doubt
Accountancy
answered on 12-Jun-23 00:20
Can we do ledger accounts sum on both sides of the answer sheet or should it on One side of answer sheet?..if we do on both the sides,is there any chance for reducing marks?..(Doing sum on both the sides is for clarity of Letters and Numbers)
latest answer
Single side is good for u and u can finish within the specified time and move on to next question quickly... Akshaya remembers a new question in a new pg
Sr the Unique
CA Inter
★ 10
7
351
Consignment working notes
Accountancy
answered on 12-Jun-23 01:23
Help me in calcu.ating consignee proportionate expp
latest answer
Not all expenses of consignee only non-recurring expense is to be added
Priyamvatha Parthasarathy
CA Foundation
★ 5K+
2
375
After ca u become acca but after acca u cannot become ca ca course was very powerfull
Accountancy
answered on 10-Jun-23 21:25
Si r
latest answer
It is easy to do ACCA after CA, as you have to write only 4 papers in ACCA. But, it is a bit difficult to do CA after ACCA, as you won't get any exemptions in CA. Still, it is possible with dedication, consistency and efforts.
R K
ACCA Skill
★ 9K+
3
329
Hire purchase
Accountancy
answered on 10-Jun-23 10:58
What is the difference between cash price and hire purchase price?
latest answer
Cash price + Total interest = Hire Purchase price
Snehashis Mohanty
CA Inter
★ 35
3
557
How to prepare Accounting Standards for CA Inter ?
Accountancy
answered on 09-Jun-23 18:53
Anybody please guide me how to revise Accounting Standards for CA Inter ? By highlighting important points in the book and revising it ? Or by making notes myself ? Or are good notes be ordered (purchased ) or freely downloaded from somewhere ? Or by watching any good marathon for it on YouTube ? How to prepare and revise Accounting Standards comprehensively and memorize them systematically ? Please help. Guide. Advice
latest answer
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Ardhendu Sekhar Acharya
CA Inter
★ 250
13
509
financial accountancy
Accountancy
answered on 09-Jun-23 20:09
please solve this
latest answer
We will recommend to solve yourself and let the ans should have been shared over here...
Raju Singh
CMA Foundation
★ 680
1
287