Profit prior to incorporation

answered on 09-Mar-23 14:43

How to calculate sales ratio in this

latest answer

For each month, Prior period --> 0.9 Post period --> 1 In post incorporation period, cost has reduced, so sales will increase.

Rifhat Khan

CA Inter

★ 28K+

3

266

Cash flow

answered on 10-Mar-23 17:27

Can someone Calculate NPBT for this Prov.for tax is 135000

latest answer

Prepare General Reserve account in ledger format. From General Reserve account, some amount would have been transferred to CRR. The balancing figure in General reserve account is transferred from P&L Then prepare P&L ledger account. Also check for adjustment related to Capital Reserve

Rifhat Khan

CA Inter

★ 28K+

1

233

Cash flow statement

answered on 09-Mar-23 10:50

Income tax in cashflow statement is which activity and why??

latest answer

Discussed in class. You need to club with the respective activity. If tax is for investment income - Investment activity. Others - Operations.

pullagorla sivaram

CA Inter

★ 5

4

262

Redemption of preference shares

answered on 10-Mar-23 18:22

Why is it that the already existing amount in the CRR can't be used for redemption of preference shares and why is there a need for us to credit the CRR with the whole amount still required (after exhausting the amount received in fresh issue of shares)? Like in the given question (Illustration 9): We still need 2750000 to redeem the pref.shares(after using fresh issues) and we already have 2000000 in the CRR.....and why is there a need for us to still credit it by 2750000?

latest answer

☺👍

Jason Daniel

CA Final

★ 7K+

7

285

How depreciation will be claimed

answered on 10-Mar-23 00:29

If we had purchased a machinery on credit of RS 100000 but 50000 paid as down-payment and rest will be paid in 10 equal installment(5000). Useful life of machinery is 10 yrs. If we maintain the books of accounts on cash basis then how the depreciation will be claimed in the books...?

latest answer

Actual Agreed Value is considered as Cost of Asset irrespective of Payment. Hence , shall claim depreciation u/s 32 on Rs 100,000

sushma verma

CA Inter

★ 170

2

261

As 1

answered on 10-Mar-23 17:59

Can anyone pls explain this qstn?

latest answer

Thank u sir

Navya Danda

CA Inter

★ 55

6

279

Accounts from incomplete records

answered on 07-Mar-23 16:07

What do you mean by miscellaneous receipts and frieght inward?

latest answer

Thank you

pullagorla sivaram

CA Inter

★ 5

2

262

Financial statements

answered on 10-Mar-23 17:37

Why we should show the provision for bad debt in p&l account because we have to show it in the asset side of the balance sheet

latest answer

https://www.youtube.com/live/Vg-_oTf7oJ4?feature=share&t=289

Snehashis Mohanty

CA Inter

★ 5

9

266

Employee stock option scheme

answered on 07-Mar-23 15:35

Sir, If it is Non market related performance Condition at the end of vesting period , Employee was not satisfied , So how to reverse sir Do we transfer to General Reserve or P and L A/c

latest answer

P&L

M Naresh

CA Final

★ 3K+

2

239

Movie purchased by OTT platform - accounting

answered on 07-Mar-23 15:37

Does the Movie purchased by OTT platform is recorded as intangible assets and amortised over period of its right to stream or it is recorded as cost of revenue/sales ??

latest answer

Suggested reading - Annual report of Amazon or Zee.

Atharv Sankliya

CA Final

★ 3K+

3

354