AS 14

answered on 15-Feb-23 09:12

I can't find AS 14 in lectures Is this in syllabus or not ??

latest answer

Covered with Amalgamation chapter.

mugi Mugilan

CA Final

★ 12K+

4

457

Important Theory chapters in CA Foundation Accouting

answered on 14-Feb-23 07:36

Can anybody please advise me regarding which chapters are the most important for True/F questions and theoretical questions in CA Foundation Accouting ?

latest answer

Your welcome

Ardhendu Sekhar Acharya

CA Inter

★ 250

9

353

Company accounts

answered on 12-Feb-23 21:57

Anybody explain to me this question and also how there is mentioned that 700 shares

latest answer

The forfeited shares are reissued at 7 when the paid up value is 8..that means forfeited shares are issued at discount.. This discount of rs.1 will be debited to forfeited shares ac.

Vignesh s

CA Inter

★ 3K+

6

252

Can I register for cma foundation for June 2023with late fees

answered on 12-Feb-23 16:57

.

latest answer

No u can join for dec attempt For june attempt closing date of admission will be 30 June December of previous year For the December attempt closing date of admission will be 30 June of the same year. There will no late fees for the extension. But due to some of the various reasons sometimes institute extend the last date of extension.

Teepa dharshini babu

CMA Foundation

★ 290

2

285

Profit and loss ac

answered on 12-Feb-23 15:40

In case if any outstanding or advance payment made given in trail balance it self not in adjustments means that outstanding or adv payment already adjusted to respective accounts... We just need to show in balance sheet right?

latest answer

If an amount is given in balance sheet, it means the amount is already adjusted. Please note that the trial balance items appear only once. You also need to look at additional information.

Someswar Reddy

CMA Inter

★ 240

5

235

Means

answered on 11-Feb-23 19:55

What is intra Enterprises and inter Enterprises?

latest answer

ITC has Agri Business and Hotel Business. Say hotel business needs FMCG Products. They can ask Agri Business to supply. This is intra business.

Amit Pandit

CA Inter

★ 33K+

3

262

CAN WE USE CAPITAL RESERVE ACCOUNT FOR ISSUE BONUS SHARE?????

answered on 13-Feb-23 21:24

In module only crr/securities premium/general reserve/p&l mentioned

latest answer

Yes we can use it ,it is just shown separately because it's not earned in the ordinary course of business

NIKHIL TANK

CA Inter

★ 15K+

8

5K+

Illu 10 consolidation

answered on 11-Feb-23 20:09

They are saying no adjustnent in respect of inventory As there will be no impact on p/l of current year.but here the opening balance of reserves doesn't contain imapct of inventory (12000) shouldn't we adjust that

latest answer

https://youtu.be/ZknwanFsttU solved here.

Gauri Shete

CA Final

★ 4K+

1

288

Section 52 and Section 63 of Companies Act 2013 and Accountancy

answered on 10-Feb-23 13:16

As per section 52 , Securities Premium may be applied for nullifying Premium on Redemption of preference shares. But , ICAI Material has never transferred Premium on Redemption to Securities Premium A/C , instead it has always transferred it to ,Profit and Loss A/C. Can I do method as in Section 52 , in exams ??

latest answer

Yes.

Varun Mulay

CA Final

★ 38K+

3

713

CASH PURCHASE AND SALE and LATER ON RETURNED WHERE TO BE SHOWN?

answered on 10-Feb-23 15:23

Sir, If we have done cash purchase or cash sale and later on those goods are returned , then those will not be entered in RETURNS BOOK,, then where will these transactions be recorded sir ? . What will be the Journal entry if we returned goods to our supplier which we had purchased on a cash biases ? If we are returning an asset , it will not be shown in purchase return book,, then where it will be shown. Why I am asking you this, video lecture is silent about these transactions where to be recorded. Please guide me sir.

latest answer

Thank you sir.

Thankachan Jimmy

CMA Inter

★ 0

7

734