PPE for film production

answered on 22-Mar-23 13:29

Does Trees plants and animals used in film production is PPE or not ? Does AS-10 is applicable on these assets as they are not in agriculture activities instead their used in commerical activities

latest answer

Ok sir

Atharv Sankliya

CA Final

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254

Insurance claims for loss of profit

answered on 22-Mar-23 15:14

This is regarding Illustration 8 in the study material. 1. Why is this Down-trend calculated when it is not being used anywhere? 2. Why is Adjusted Annual Turnover shown separately? It is same as the Annual Turnover.. I don't get it.. Would be glad if someone can explain..

latest answer

Its not a downtrend calculation.

Sowmya Ilango

CA Inter

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284

Investment accounts

answered on 21-Mar-23 13:07

If brokerage is paid on sale and purchase of investment , will it be reflected in p and l account as well?

latest answer

No brokerage is added to cost of investment

SANSKRITI BADRI 2111339

CA Final

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274

Amalgamation of companies

answered on 22-Mar-23 00:13

How for paying liquidation expenses of 2 companies , in the books of transferee company getting this 3rd Journal entry . Capital reserve A/c Dr to Goodwill A/c

latest answer

Yeah, thank you very much,

Dhivyaa Latha

CA Inter

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AS 12

answered on 22-Mar-23 15:27

Explain point (i)

latest answer

Sometimes the government may compensate entities when price changes. For e.g crude oil related subsidy. Such are not covered. You are at revision stage and hence focus should not be into too much of details.

Sugam SM

CA Foundation

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272

AS 11

answered on 20-Mar-23 22:01

Why this is disclosed separately? Closing stock and dep

latest answer

Yeah its an additional info

Sugam SM

CA Foundation

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275

contingent liability

answered on 20-Mar-23 19:40

what is remote possibility?

latest answer

there is only a very small chance that it will happen.

Kamal Kumar

CA Inter

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257

Cash flow from operating activities

answered on 27-Mar-23 19:07

Sir is my solution on arriving at Cash flow from operating activities correct in the below question?

latest answer

Income tax refund is credited to P&L, this also needs to be adjusted to arrive at Profit Before Tax. YOu should show tax refund seaparately as an addition.

Venkateshwara Prabhu

CA Inter

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276

Final accounts

answered on 22-Mar-23 15:17

What is the adjustment entry of no.1 adjustment

latest answer

For dishonour, add to debtor balance and reduce form bank balance. For direct deposit - add to bank balance and reduce from debtor balance

jayesth Jain

CA Foundation

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305

AS 10

answered on 22-Mar-23 15:30

Sir what if this deferred credit is for normal credit terms. Say credit of 500000 is deferred for 4 years. If its extended over 4 years say payable at end of 6th year is 6L then int is 1L and it will be capitalised if such asset is qualifying. So what is this deferred credit. Is it always beyond normal credit period or otherwise? How does the standard interpret this? In ques 6 what should we assume?

latest answer

Yes

Sugam SM

CA Foundation

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278