RETIREMENT OF PARTNERSHIP

answered on 16-Dec-24 12:11

I HAVE DOUBTS IN CAPITAL PROPORTIONATE PORTION . CAN YOU CLARIFY IT BRIEFLY

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Whats your doubt?

Keerthana Sankar

CA Foundation

★ 0

1

56

based on previous year question discussion

answered on 13-Jan-25 10:07

sir can you upload previous year mtps , rtps of all chapters in accouts video class it become more help full to analysis the different type of questions please sir its my request please considerd it

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ADD more questions pls

Rehanabin

CA Foundation

★ 100

6

133

Amalgamation

answered on 17-Dec-24 15:49

What's the reason for variation in the 2nd journal in case of nature of merger & purchase

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Thank you Sir

Soon to be CA

CA Inter

★ 4K+

6

341

Amalgamation

answered on 15-Dec-24 08:01

Generally we do not include debenture holders in purchase consideration but why it’s included in the net asset method?

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No worries

Soon to be CA

CA Inter

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3

246

9th Question

answered on 16-Dec-24 15:01

Why is only one month's interest income taken to reduce it from the borrowing cost?

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A company borrowed Rs. 1,00,000 on 1st April 2017 for the purpose of acquisition of a qualifying asset. The loan attracts an interest rate of 12% per annum. The company incurred 1% of the loan amount as processing charges. The qualifying asset was ready by 30th September 2017 . The company initially had surplus fund to the extent of Rs. 50,000 which was deposited in a FD account bearing interest of 6% per annum for 1 month. The loan was repaid on 31st December 2017. What is the amount of borrowing cost to be capitalised?

V V

CA Inter

★ 3K+

4

370

Question 10

answered on 16-Dec-24 15:11

How is the amount of Rs 34000 arrived at, without interest rate given in the problem?

latest answer

When the funds have been borrowed generally then the amount of borrowing costs to be capitalized is to be calculated by applying a capitalization rate to the expenditure on that asset. The capitalization rate, here, means the weighted average of the borrowing costs applicable to the borrowings of the enterprise that are outstanding during the period, other than borrowings made specifically for obtaining a qualifying asset. However, the amount of borrowing costs capitalized during a period should not exceed the amount of borrowing costs incurred during that period. In case of borrowings which are not specific to the qualifying asset (also known as general borrowings). In the given case, the borrowing for truck is specific and will be excluded to arrive at the capitalisation rate. Capitalisation Rate = Total Interest / Total Borrowings x 100 = 43,000/5,00,000 = 8.6% Amount to be capitalised = 4,00,000 x 8.6% = 34,400

V V

CA Inter

★ 3K+

2

314

MCQ Test 1

answered on 26-Dec-24 10:50

Hello, for 10th question, how is the amount of Rs 34000 arrived at, without interest rate given in the problem?

latest answer

When the funds have been borrowed generally then the amount of borrowing costs to be capitalized is to be calculated by applying a capitalization rate to the expenditure on that asset. The capitalization rate, here, means the weighted average of the borrowing costs applicable to the borrowings of the enterprise that are outstanding during the period, other than borrowings made specifically for obtaining a qualifying asset. However, the amount of borrowing costs capitalized during a period should not exceed the amount of borrowing costs incurred during that period. In case of borrowings which are not specific to the qualifying asset (also known as general borrowings). In the given case, the borrowing for truck is specific and will be excluded to arrive at the capitalisation rate. Capitalisation Rate = Total Interest / Total Borrowings x 100 = 43,000/5,00,000 = 8.6% Amount to be capitalised = 4,00,000 x 8.6% = 34,400

V V

CA Inter

★ 3K+

1

278

Current assets

answered on 21-Dec-24 08:09

In current assets Sir was reduced 100 in 340 why not they reduced in 300 340 includes current liability, so we have to reduce it from 300 Is that correct, then balance sheet will not tally

latest answer

We will reduce from current assets. Liabilities will be shown separately in balance sheet.

Shivashankar Jawai

CA Inter

★ 2K+

1

329

Buy back of shares

answered on 24-Dec-24 17:09

Hari LTD wants to buy- back of 20 % of its equity shares @ ₹15 per share on 5.4.2023. The Company issued a 12 % preference share of 5 lakh ₹10 for each on the same date and also issued one fully paid up equity share ₹10 by way of the bonus share of every 2 equity shares held by the equity shareholders. Hari LtD provides the following details. On 31.3.2023 Equity share capital ( fully paid up shares of ₹10 each. = ₹500 crore. General Reserve = ₹50 crore Capital redemption reserve = ₹370 crore. You are required to compute the : 1.Total amount Of Capital redemption Reserve after bonus issue. 2.Share capital after buy-back. 3.Securities premium.

latest answer

Amount to be transferred to CRR = Total buy back value (500x20%) i.e 100 crores - 5 crores = 105 crores. Amount required for bonus issue = 400 crores. CCRR balance = 370+105-400

Rana Darshan

CA Inter

★ 810

3

363

Amalgamation

answered on 10-Dec-24 14:21

Amalgamation If questions didn't specify about what assets and liabilities taken over.we should assume all of it will taken over R8? And in realisation account we will not settle creditors and debtors also? R8?

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👍🏻👍🏻

Nadeem Neymar

CA Inter

★ 250

2

312