AS 12 got grant

answered on 22-Apr-23 10:30

If government grants exceed Assets value after deducting government grant form Assets Excess amt cr in p&l account ?

latest answer

If earlier the depreciation on that asset is debited to p&l a/c and the amount of grant is received after that i.e in the subsequent years then you can credit the excess in p&l a/c

Satyaprakash Yadav

CA Final

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226

Bonus

answered on 21-Apr-23 06:52

Can we use capital reserve for bonus issue?? NOTE : I M NOT ASKING ABT CAPITAL REDEMPTION RESERVES.

latest answer

Yes.

Reetikaa R

CA Final

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2

277

Accounts

answered on 21-Apr-23 16:45

Cash Gift received The entry for same will be Cash a/c dr To name of the giver Or Cash a/c dr To income(gift)??? ???

latest answer

Ok sir

Prathmesh kharul

CA Foundation

★ 3K+

2

255

Insurance

answered on 22-Apr-23 13:03

In this question , it says goods were sold on approval basis. The WORTH is 1,98,000.. i interpreted that to be the actual worth,ie, the cost .. is this incorrect ? I’m getting same answer .

latest answer

It is to be considered as sales.

SANSKRITI BADRI 2111339

CA Final

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4

273

Branch

answered on 20-Apr-23 17:39

Plss tell me the invoice proce and sale price for branch

latest answer

Notable point: branch is selling in 20 percent of profit relating to its invoice price (180).

Reetikaa R

CA Final

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2

260

Branch

answered on 20-Apr-23 17:29

If they ask to prep branch account in head office books , wat all to put in the account ?? PRACTICE QUES 10

latest answer

Assuming it is a foreign branch accounts, all assets and liabilities' closing balance + net profit relating to the branch will come. In case of dependent and independent types, you may refer to the format in the book for better understanding.

Reetikaa R

CA Final

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318

Final accounts

answered on 20-Apr-23 18:10

What is the 4th answer. Please give explanation too

latest answer

Thanks

SUBODH M JAIN

CA Final

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252

Amalgamation

answered on 22-Apr-23 17:16

In the nature of purchase What is the journal entry of statutory reserve ? (ex. Development Rebate Reserve, Investment Allowance Reserve, Export Profit Reserve) In the books of transferee and transferor company ?

latest answer

These are not transferred as such. It is only a notional entry passed by acquirer company.

Jiya T

CA Inter

★ 10

4

246

Pre and post incorporation profits

answered on 20-Apr-23 11:59

No clue abt finding turnover ratio .plss someone do n send

latest answer

Time ratio is 4:7 and given sales will go up 40% in post inc. Period so 7*140% = 9.8 I.e. sales ratio = 4:9.8

Reetikaa R

CA Final

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3

369

Doubt on insurance claims

answered on 19-Apr-23 22:14

How to treat the turnover marked in picture ?

latest answer

That's the interpretation of statement

sradha krishna sunil

CA Final

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2

224