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Investment accounts
Accountancy
answered on 21-Mar-23 13:07
If brokerage is paid on sale and purchase of investment , will it be reflected in p and l account as well?
latest answer
No brokerage is added to cost of investment
SANSKRITI BADRI 2111339
CA Final
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3
517
Amalgamation of companies
Accountancy
answered on 22-Mar-23 00:13
How for paying liquidation expenses of 2 companies , in the books of transferee company getting this 3rd Journal entry . Capital reserve A/c Dr to Goodwill A/c
latest answer
Yeah, thank you very much,
Dhivyaa Latha
CA Inter
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3
571
AS 12
Accountancy
answered on 22-Mar-23 15:27
Explain point (i)
latest answer
Sometimes the government may compensate entities when price changes. For e.g crude oil related subsidy. Such are not covered. You are at revision stage and hence focus should not be into too much of details.
Sugam SM
CA Final
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438
AS 11
Accountancy
answered on 20-Mar-23 22:01
Why this is disclosed separately? Closing stock and dep
latest answer
Yeah its an additional info
Sugam SM
CA Final
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2
451
contingent liability
Accountancy
answered on 20-Mar-23 19:40
what is remote possibility?
latest answer
there is only a very small chance that it will happen.
Kamal Kumar
CA Inter
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1
419
Cash flow from operating activities
Accountancy
answered on 27-Mar-23 19:07
Sir is my solution on arriving at Cash flow from operating activities correct in the below question?
latest answer
Income tax refund is credited to P&L, this also needs to be adjusted to arrive at Profit Before Tax. YOu should show tax refund seaparately as an addition.
Venkateshwara Prabhu
CA Inter
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1
459
Final accounts
Accountancy
answered on 22-Mar-23 15:17
What is the adjustment entry of no.1 adjustment
latest answer
For dishonour, add to debtor balance and reduce form bank balance. For direct deposit - add to bank balance and reduce from debtor balance
jayesth Jain
CA Foundation
★ 835
1
548
AS 10
Accountancy
answered on 22-Mar-23 15:30
Sir what if this deferred credit is for normal credit terms. Say credit of 500000 is deferred for 4 years. If its extended over 4 years say payable at end of 6th year is 6L then int is 1L and it will be capitalised if such asset is qualifying. So what is this deferred credit. Is it always beyond normal credit period or otherwise? How does the standard interpret this? In ques 6 what should we assume?
latest answer
Yes
Sugam SM
CA Final
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3
489
AS 10
Accountancy
answered on 20-Mar-23 07:18
I didn’t get this sum. Isn’t the book value 600000 after 20 years. Explain case b
latest answer
Its is the value of similar asset which is 20 years old today.
Sugam SM
CA Final
★ 9K+
1
516
Contingent liability
Accountancy
answered on 20-Mar-23 09:39
If a company has loss and reserves showing dr.balance and if any contigent liability arises due to any legal obligation then I should provide for it or not.
latest answer
Contingent liability is disclosed. If payment is probable (>50% chance) and amount can be estimated, then you will create a liability in books irrespective of profit or loss position.
Kamal Kumar
CA Inter
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1
433