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May '23 RTP - insurance claim chp
Accountancy
answered on 05-Mar-23 10:08
Why was the purchase amount of Rs.40000 (goods received but invoice not received)not added in the answer.
latest answer
Read point 2 carefully and neatly , it says that Purchses already included 40,000 delivered goods . So, no need to add again.
Vanathi V
CA Inter
★ 345
1
347
AS16 borrowing cost
Accountancy
answered on 05-Mar-23 17:55
In an eg. Business has raised specific loan of 50L to construct an asset @10%p.a. interest. The construction of asset has started on 1/5/21 but the payment has been made in installments, i.e. 10L on 1/7/21 25L on 1/9/21 15L on 1/1/22 and const.ended on 31/3/22. So the ques is, interest on 50L will be capitalised (added in cost of asset) in which manner? Like whole 5L for entire 12 months or according to different periods like: 10%on 10L = 1L for 9months i.e.75K 10%on 25L= 2.5L for 7 months i.e.1,45,833 10%on15L =1.5L for 3 months i.e. 37,500 Total = 2,58,333??
latest answer
Ok ty
Garima Bhargava
CA Inter
★ 185
4
352
Amalgamtion
Accountancy
answered on 07-Mar-23 16:20
Why amalgamation in the nature of purchase-agreed upon value and in the nature of merger-book value during valuation?
latest answer
The underlying reason is explained below - In amalgamation in nature of merger, the existing owners of continue to become the owners of the combined entity and the entity would continue. It would not be appropriate to increase/decrease the value of assets/liabilities in such a case and recognize a gain. - In case of purchase, it is more like selling off the existing entity to outsiders and hence net book value is used.
Kamal Kumar
CA Inter
★ 7K+
3
284
Dissolution of Partnership
Accountancy
answered on 07-Mar-23 16:40
Can capital reserve be transferred to Partners capital ac? (Like general reserve)
latest answer
Transfer it to the partner's capital account.
Angel Maria Varghese
CA Final
★ 9K+
6
293
Journal entry
Accountancy
answered on 04-Mar-23 16:40
Please can someone explain this journal entry by modern approach... Advance (say travelling )₹5000 given to rajiv
latest answer
Prepaid expense A/c Dr To cash a/c Prepaid expense is asset: so debit increase in asset Cash in going out here ie decrease in asset, so credit decrease in asset
Aakash Raavi
CMA Inter
★ 320
2
347
As 17
Accountancy
answered on 04-Mar-23 20:20
Why secondary report made all sales?
latest answer
Thank u sir.
Kamal Kumar
CA Inter
★ 7K+
8
260
Accounting for shares
Accountancy
answered on 04-Mar-23 04:35
Issued capital 1 lakh and due to oversubscription the company allotted 1,10,000 on pro rata basis and. The excess money is adjusted in allotment. For calculating allotment the base no. Of shares should be 1lakh or 1,10,000. For first call money and so on... Could anyone please reply,it would be immensely helpful...
latest answer
Firstly - 1,10,000 shares cannot be alloted. You can allot 1,00,000 shares to applicants of 1,10,000 shares. No of shares allotted will be 1,00,000 only.
Mugilan S
CMA Inter
★ 0
1
247
Cash flow
Accountancy
answered on 02-Mar-23 12:24
Can anyone explain me what is the logic behind Opening balance -Closing balance while computing cash flow by giving simple example?
latest answer
Creditors If opening is 10000 Closing is 0 And no purchases during the year Means u paid 10000 during the year( cash. Outflow) Another example Opening 10000 Purchases 50000 Closing 20000 Means actual cash outflow = opening + current year purchases -closing =40000
Snehashis Mohanty
CA Inter
★ 35
9
274
AS
Accountancy
answered on 04-Mar-23 08:42
Answer for this
latest answer
Tq sir
Prasanna Ram
CA Inter
★ 0
5
340
Accounts of pronouncements
Accountancy
answered on 01-Mar-23 15:22
Accounts of pronouncements
latest answer
Can you please elaborate your question?
bhuvaneshwaran jayaraman
CA Inter
★ 0
2
247