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Closing value of investment - short term
Accountancy
answered on 18-Jan-23 10:40
A share of rs 1000 (cost) is valued at the end of FY2021 is 900 (market price) what will be the closing value at the end of fy22 if market price at the end of Fy22 is 950 ? Note : share is purchase during FY21 @1000rs
latest answer
950.
Atharv Sankliya
CA Final
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403
accounting standards
Accountancy
answered on 17-Jan-23 10:10
I want solutions for accounting standards illustrations .please send me as early as possible
latest answer
They are in videos
Bhuvana reddy Pulusu
CA Final
★ 20
2
514
Carrying cost of investment
Accountancy
answered on 20-Jan-23 22:42
What will be the carrying cost of investment if the cost of acquisition of investment is Rs.1000 purchase on 1 Jan 2020 and the market value at the end of FY 31/dec/2020 is 900 and on end of next FY the market price is 950 So what will be the carrying cost for both year
latest answer
As per AS-13, current investment has to be valued at cost or fair value, whichever is lower. Long term investments are always valued at cost, unless there is a non-temporary decline. Assuming the given investment as current investment, in the first year, it will be valued at 900. in the second year, it will be valued at 950.
Atharv Sankliya
CA Final
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390
Partnership
Accountancy
answered on 18-Jan-23 10:44
In this question, the general reserve should first be added to determine the ratio in which partners will bear the loss on insolvency of R in garner vs murray rule. But in the answer they have not adjusted the general reserve for determining the ratio.
latest answer
Even if you adjust general reserve, the ratio will be same.
Sarthak Aggarwal
CA Final
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575
ESOP - Advanced accounting
Accountancy
answered on 16-Jan-23 05:38
Journal Entry Employee retention cost Dr To ESOP outstanding P&l Dr. To Employee retention cost It is the answer given in book My doubt is that: How 'ESOP outstanding' showed in Balance sheet? My answer: 'ESOP outstanding' is showed in liability side of balance sheet. Is my answer correct?
latest answer
Thank you.
Krishnan K
CA Inter
★ 5K+
4
462
What is main principles in accounting standards
Accountancy
answered on 15-Jan-23 09:35
What is main principles in accounting standards
latest answer
Main principles laid down in AS-13 from para 26 to 35
Atharv Sankliya
CA Final
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560
Special dividend
Accountancy
answered on 20-Jan-23 22:57
What will be the treatment of special dividend in investor's books of accounts
latest answer
Dividend is an income and hence, it has to be credited to the P&L. In investment accounts chapter, you can post the amount in the dividend column of the credit side.
Atharv Sankliya
CA Final
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426
Investment account - property
Accountancy
answered on 18-Jan-23 10:44
does the property held for investment purposes is recorded at market value or cost whichever is lower if yes then if the market price is lower the loss is tranfer to which account (revaluation, capital reserve p&l a/c etc) ?
latest answer
As per as 13 - INvestment Properties are accounted for as long term investments. Write off due to permanent decline Dr. P&L Cr. INvestment Property
Atharv Sankliya
CA Final
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435
Insurance claim
Accountancy
answered on 13-Jan-23 06:58
As we know as per average clause the if the value of the stock is more than the insured stock then the claim will not be accepted then how can we claim 120000 insurance because we have lost the stock of goods is 155000.
latest answer
Sorry, please read claim= policy amount (Claim = actual loss is wrong)
Snehashis Mohanty
CA Inter
★ 35
8
434
FORWARD CONTRACT
Accountancy
answered on 12-Jan-23 09:33
Diff btw hedging and speculation.
latest answer
Bank or other party in market
Kamal Kumar
CA Inter
★ 7K+
4
337