Banking companies

answered on 11-Nov-22 21:11

How much profit % should be transferred to stat reserve? Is it 20%?

latest answer

Ohh .. because I am nov 21 attempt and I thought 20% ?

Nikhil Vasanth

CA Final

★ 4K+

4

264

Accounting Standards

answered on 11-Nov-22 15:14

Can we write provisions of AS in our own words with key words included , in exams ?

latest answer

Thx sir

Varun Mulay

CA Final

★ 38K+

2

311

Amalgamation

answered on 14-Nov-22 16:34

Jupiter Ltd has taken to pay off Liquidation expenses to the extent of 5k ,why bring his share of liquidation exp in the books of Mars Ltd(vendor company),when it is only jupiter liability to pay of Liquidation exp amounting to 5k?

latest answer

Pls send the solution of what you think is correct. It is not clear as to what you are asking. Also please note sometimes scanner may not be 100% correc.

pradyumna hariramani

CA Inter

★ 290

5

314

Amalgamation

answered on 14-Nov-22 20:03

Here workmen profit sharing fund paid off at 30% premium why not debit total payment of 3.3 lakhs to realization account instead of 30k?

latest answer

Ok sir!

pradyumna hariramani

CA Inter

★ 290

3

224

Banking companies

answered on 11-Nov-22 10:56

In p/l of banking co. Even if no info given, should we transfer 25% to statutory reserve?

latest answer

Yes

Pushkala S

CA Final

★ 3K+

2

222

Internal reconstruction

answered on 11-Nov-22 10:12

Why transfer full creditors to capital reduction account.Their claim is reduced only by 25%,so It should be creditor A/C Dr. TO cap reduction account I.e. 13000 Even for debentures we have only transferred to cap reduction account only 172500 and not full amount of debentures Pls help

latest answer

Ok sir

pradyumna hariramani

CA Inter

★ 290

2

248

Admission of partner

answered on 14-Nov-22 16:34

What will be the journal entry with amount for- C was admitted as a partner and agreed to bring 25,000 as capital and 10,000 as goodwill. It was agreed that the goodwill settlement to a and b will take place outside the firm.

latest answer

IF settled outside the firm, why will cash be brought to business for 10,000

Vedant Vijay

CA Foundation

★ 1K+

4

288

Can u solve this? �

answered on 14-Nov-22 16:36

Pls help me solving out this sum..

latest answer

What is your doubt?

Srinivasan R

CMA Inter

★ 825

3

268

Internal Reconstruction

answered on 11-Nov-22 08:17

What is the journal entry for inventory overvalued??

latest answer

Sorry... It's my mistake..

Pragati Maniyar

CA Inter

★ 5K+

3

263

Partnership Accounts

answered on 11-Nov-22 07:06

If in question any asset is given and taken to Realisation A/C and then no realised value is given then should we realise it at the book value itself.

latest answer

No effect is needed

Harsh Mittal

CA Final

★ 1K+

3

238