Accounts of pronouncements

answered on 01-Mar-23 15:22

Accounts of pronouncements

latest answer

Can you please elaborate your question?

bhuvaneshwaran jayaraman

CA Inter

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2

207

Investment Accounts

answered on 28-Feb-23 16:04

If there is nothing mentioned in the question, Dividend on RIGHTS AND BONUS ISSUED SHARES must not be considered for calculation of dividend.

latest answer

It must be considered. Dividends, bonus abd rights are declared on shares on a particular date.

THARAKESH M

CA Inter

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310

Cash flow statement

answered on 04-Mar-23 04:54

Can anyone explain me this problem to me ? I want to know that what is the meaning of additional information of rs 10000 and what will be the journal entry for it can anyone explain me

latest answer

Written off means, transferred from discount account to Profit & Loss. Refer to the ledger that I have prepared.

Snehashis Mohanty

CA Inter

★ 5

10

298

Branch accounts and department accounts

answered on 04-Mar-23 04:52

Why I should transfer to my branch at a profit? Same for department sales?

latest answer

Its more to evaluate performance of branches. Say A and B are two branches. A purchases the goods at its location at 100 and generally sells to outsiders at 110. B has to pay 110 in its location to purchase the goods from outsiders and sells it at 120. Now if A transfers the goods at 100 then B would show a profit of 20. And A will not have any profit to show.

Kamal Kumar

CA Inter

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261

Liquidation

answered on 27-Feb-23 21:44

What is the treatment of p/l (DR) balance in statement of affairs?

latest answer

Pls check the classes under free courses. All illustrations available there

Vasu Naidu

CA Inter

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1

291

Partnership

answered on 27-Feb-23 14:04

Could anyone explain realisation account of problem 3 in Partnership accounts in Advanced Accounting subject? The similar problem is also in illustration 7.

latest answer

Check free classes under free courses

Farhana Shaik

CA Inter

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276

Nominal value vs book value

answered on 27-Feb-23 17:23

In this November 2022 question on investment account, there is nominal value and book value. Can someone tell the difference between the two and what should we use for the calculation of the cost of investment.

latest answer

Book value is Net Assets / No of shares. However here the question uses the term book value as value recorded in the books.

Prasad Ramasamy

CA Final

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713

Ledger

answered on 27-Feb-23 06:24

I am getting difference of 7000 when I tried trial balance. Is this because of given credit and debit balance which have 7000 or any error in solving.

latest answer

Ya it is beacause the opening balances they gave only are only few account balances hence they didn't tally and have difference of 7000 The requirement was also only prepare ledger accounts so trial balance not relevant

SUBODH M JAIN

CA Final

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268

Abnormal gain

answered on 27-Feb-23 17:25

Does abnormal gain decrease the cost of product ??

latest answer

for accounting / costing purpose - no but if you look at economics or from the point of view of pure gain - yes.

Atharv Sankliya

CA Final

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290

Cash flow statement

answered on 26-Feb-23 14:33

Can we consider Trade receivables while computing cash flow?

latest answer

This is covered in detail in class. The linkage between netprofit and working capital changes. We start with net profit. Net profit is computed on accrual basis. So there are some income which are considered for which cash would not have been received by the entity. Hence working capital adjustments are made. Since we did not receive amounts from debtors, it is reduced from the net profit to arrive at cash flow. For assets consider Opening - Closing For liabilities consider closing - opening.

Snehashis Mohanty

CA Inter

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