Asset given as gift

answered on 04-Nov-22 02:53

Suppose my balance sheet is getting tallied with amount of 10lacks and someone gifts me house of rs 30 lakhs now my asset will be of Rs. 10,30,000 so what will be on liability side as the house is gifted to me.???

latest answer

Asset Dr To Capital

Prathmesh kharul

CA Foundation

★ 3K+

8

267

Doubt

answered on 03-Nov-22 22:19

I'm not able to understand the adjustment entry of 16400 of Yash and Tanish given in the Capital Account. Can anyone please explain the logic behind this?

latest answer

Yash and tanish are the share holders of the company. After getting the shares in the respective ratio to close the capital account in the firm that adjustment entry is made

Abishek Narain

CA Inter

★ 10

1

263

Amalgamation

answered on 03-Nov-22 16:52

For Amalagamation questions ,if we need to use Intrinsic Value method ,is it always mentioned to use this method.And so if we are not asked to use this method ,that means question mein no need to use Iv method?Pls any faculty or any student confirm?

latest answer

Alright tysm!

pradyumna hariramani

CA Inter

★ 290

7

304

Sale on approval or return

answered on 03-Nov-22 19:17

What is the answer for attached question and why?

latest answer

Option C) 6000

Yamuna S

CA Inter

★ 15K+

3

209

Prepration of ledger of reserve for bad bebt

answered on 02-Nov-22 19:45

Can anyone please explain the preparation of reserve for b/d a/c if there is provisions is given

latest answer

https://youtu.be/Vg-_oTf7oJ4?t=280 Covered here.

Anvar Ansari

CA Inter

★ 2K+

5

252

Inventory

answered on 02-Nov-22 18:29

Why in this question rawmaterial is valued at cost. Since the Nrv of FG is more than the cost of Fg we should value the rawmaterial at cost nah?

latest answer

Thankyou :)

R M

CA Final

★ 3K+

6

270

Amalgamation

answered on 02-Nov-22 08:36

Can anyone please tell me how the authorized capital got at the end of the sum?

latest answer

Authorised information is not given. You can ignore that.

Likhitha Sivani

CA Final

★ 14K+

1

258

Final accounts practical Q.no 1

answered on 02-Nov-22 12:33

Plz make a video on this question ...it is difficult to understand the adjustments...

latest answer

Got it sir. Thank you.

Vikas Patwari

CA Foundation

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16

261

Govt Grants

answered on 01-Nov-22 23:22

In point ii was that a grant related to Specific Fixed asset or Promoters Contribution �

latest answer

See this

R M

CA Final

★ 3K+

4

316

Choice in questions

answered on 01-Nov-22 23:17

Can we attend more questions? I remember Suraj Sir saying this . But ICAI will take into account the question which have been awarded more marks and Don't include others.. does this happen Sir ?

latest answer

Thank you Sir

Shankari C

CA Inter

★ 12K+

3

270