Preparation of Financial Statements

answered on 09-Dec-24 09:08

In one question “Loose Tools” is considered under PPE & In another sum under “ Inventory “ what’s the reason?

latest answer

Tools of substantial value & used for more than a year can be considered as asset and if it is a stock in trade then it will be shown in inventory

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Preparation of Financial Statements

answered on 09-Dec-24 15:52

What’s the treatment for adjustment number 8

latest answer

To be disclosed as contingent liability

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Internal reconstruction

answered on 10-Dec-24 15:21

In that sum sir final step stock is converted into shares ie.,4lac stock converted into individual shares of 10 each how to do compute as 4lac once again explain sir

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Issued shares are 4,000 so 4000 x 100 = 4,00,000

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Sir adjustment1 2nd part and that of the remaining 25%at less than the book value

answered on 10-Dec-24 15:17

Sir is this calculation correct sir 18L ×25%×0.92 = 414000 Adjustment 1 first part. = 1512000 Total. 1926000 But in balance sheet sunder asset 1800000 it will come my doubt 18L - 1512000 = balance 288000 My doubt it will come 288000 or 414000

latest answer

AFter amalgamation the asset value will be 1926000

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Cash flow statement

answered on 07-Dec-24 12:09

Here, Why didn't they include depreciation on other tangible assets while calculating net profit

latest answer

Dep for furniture rs.40000 and dep for other tangible assets rs.20000 Totally rs.60000 While computing net profit they reduced rs.60000

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Sir if question is nothing is mention and all point made for merger which method I follow in exam

answered on 06-Dec-24 18:22

Purchase or merger sir or I can follow any write in exam note assuming and do any purchase or merger

latest answer

Point of business continuity should also be given - Merger

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as 19

answered on 09-Dec-24 08:25

In Illustration 2 how to get the gross lease rental value is 1441080. in my calculation that answer is 1441140[6L*0.8929+6L*0.7972+6L*0.7118] which answer is preferable?

latest answer

It is based on the digits taken in PV factor. Both are preferable.

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170 general reserve doubts clear now no doubts

answered on 03-Dec-24 14:25

170 clear no doubts now understand

latest answer

Available under profile

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Sir please clear general reserve set off 170 or 250

asked on 02-Dec-24 20:13

Sir please clear General reserve set off 170 or 250

latest answer

No answers yet!!

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As 10

answered on 02-Dec-24 17:54

Property plant and equipment question

latest answer

what is your doubt>

Naina 74

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