Forums
Capital maintenance
Accountancy
answered on 12-Jul-23 12:57
How is Rs.14400 computed? I have attached the SS of Qus
latest answer
Here current purchasing power is to be taken ie, Rs 3. So opening value 12000 is indexed at 125 with a unit price of rs2.we need to convert to the actuals of current year. =12000/125*100 gives the actual spent @rs 2. We nned to value it at rs3 because it is what we actually spent =9600/2*3=14400 will be the openning.
CYNOPHILE S
CA Inter
★ 925
2
556
General doubt
Accountancy
answered on 12-Jul-23 22:56
Kya module ko read karna bhi jaruri hai ya illustrations and practical questions Enough hai
latest answer
No worries ❤️
Ab Devliear
CA Foundation
★ 3K+
5
719
About Exemption
Accountancy
answered on 17-Jul-23 15:44
Haii...if I got exemption in Group 1 Accounting ( Nov 2023 ) old syllabus, will it carry forward to May 2024 attempt...
latest answer
ICAI is considering this in the next council meeting.
Saranya Arasumani
CA Inter
★ 0
4
556
Amalgamation of Companies
Accountancy
answered on 11-Jul-23 08:55
i)Amalgamation in the nature of merger one or more companies are merging and forming one company. that means the earliear companies are closing down. i.e., liquidating ii)Amalgamation in the nature of purchase, purchasing company is taking over vendor company. here vendor company is closing down. i.e., liquidating. my doubt: is amalgamation is type of liquidation? a)if no then why? b) if yes then example: A ltd is taking over B ltd B ltd has 10000 equity shares of 10 each fully paid up 1000 preference shares of 100 each fully paid up here it is amalgamation in the nature of purchase. some assets and liabilities of B ltd are taken over by A ltd and remaining liabilities are set off with assets and funds available all funds are completed purchase consideration agreed by A ltd to give share holders of B ltd that 1 preference share of 100 each of A ltd for every 2 preference share holders in B ltd 1 equity share of 10 each of A ltd for every 2 equity share holders in B ltd that means preference share capital in B ltd is 1 lakh but they got 50000 worth of shares in A ltd and equity share capital in B ltd is 1 lakh but they got 50000 worth of shares in A ltd here do we need to follow liquidation rules so that first preference share holders need to paid first so here do equity share holders transfer their shares to preference share holders for complying liquidation procedure
latest answer
Amalgamation involves merging two or more companies into one entity(or) direct takeover in other case, with preference shareholders rights and preferences governed by a scheme approved by shareholders and sanctioned by NCLT...... The scheme outlines terms and conditions, including treatment of preference shares and payment too. Once approved and sanctioned, the scheme becomes legally binding and supersedes general liquidation rules. So here , what i want to conclude in summarised manner is that "The AMALGAMATION agreement supersedes(means like replace) the general liquidation rules. I think you just got to know that there's THIS MUCH topic about AMALGAMATION AGREEMENT and approvals and all that stuff 😅😅 I felt the same when i had got to know 🤣🤣👍 I hope this explanation helps you ❤️.
lohith perumalla
CA Inter
★ 8K+
2
503
Lease
Accountancy
answered on 11-Jul-23 09:34
Can lessor (or) lesse terminate the lease before completion of the lease period For ex :- Mr. A given to Mr. b , a commercial house property for lease for a period of 3 years . Mr. B , the lesse , terminates the lease agreement by changing their business to another building without paying lease rental to the lessor in the middle of the lease period, say 2nd year. Then what will happen? Is it possible? If possible, what are the consequences? What if lesse told the lessor that he'll terminate before a prescribed period, is there a prescribed period for this case ?
latest answer
No worries!
SAI AKASH GORU
CA Final
★ 750
5
423
Departmental accounts
Accountancy
answered on 10-Jul-23 17:38
I didn't understand this Why selling price is multiplied with purchase units Gross profit will come from sales units multiplied with selling price ,is anything wrong Gross profit ratio = gross profit ÷ selling price i.e selling price total = 1512000 Please explain this
latest answer
Could you please tell me what you understood finally? Give a short explanation
Nayani Agarwal
CA Inter
★ 1K+
6
904
Liquidation of companies
Accountancy
answered on 09-Jul-23 11:24
1)What are overriding preferential payments? 2)Who are preferential creditors? 3)Difference between overriding preferential payments and preferential creditors
latest answer
Is the solution done by me in this image is correct
lohith perumalla
CA Inter
★ 8K+
6
1K+
Liquidation of companies
Accountancy
answered on 09-Jul-23 11:02
What are over riding prefertial payments?
latest answer
Certain dues are to be settled in the case of winding up of a company even before the payments to preferential creditors
lohith perumalla
CA Inter
★ 8K+
3
478
Is calls in arrears a asset?
Accountancy
answered on 09-Jul-23 16:11
Is calls in arrears a asset?
latest answer
Yes
lohith perumalla
CA Inter
★ 8K+
4
578
PPF and SIP balance
Accountancy
answered on 09-Jul-23 11:33
Will the balance sheet of a person whose income is from consulting include balances of Public Provident Fund and SIP as investments or not?
latest answer
Systematic Investment Plan
Jiya T
CA Inter
★ 10
5
605