Accounting process( cash book )

answered on 26-Oct-22 20:37

For transaction on "20 ...why 175 written in cash column itself....you shouldn't it be 75 in cash column and 100 in bank column ( because received cheque for 100

latest answer

Okay

Yamuna S

CA Inter

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4

234

Sale of partnership to company

answered on 27-Oct-22 07:52

While calculating PC of net assets taken over method is it fictitious assets considered as part of assets or not? i.e discount on issue of debenture is appearing in assets of the balance sheet

latest answer

No, not considered

Mahammad Ali

CA Final

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2

222

Bank reconciliation statement

answered on 28-Oct-22 18:25

If cash book blance is give and adjustment is like â?¹500 DISCOUNT RECEIVED WRONGLY ENTERED IN BANK COLUMN, what the treatment for this

latest answer

Ok sir. Thank you.

Anvar Ansari

CA Inter

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Employee Stock option scheme

answered on 26-Oct-22 14:42

Sir , Where Do we need to show the Employee stock option outstanding Account in Balance sheet? In Reserves and surplus head As negative balance Right ?

latest answer

Positive bal

M Naresh

CA Final

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222

Branch accounts

answered on 31-Oct-22 12:14

Here why should we record in cash account? If HO directly paid the expenses.

latest answer

You can exclude that and do as well

Sugam SM

CA Foundation

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8

293

Scraped machinery

answered on 26-Oct-22 11:19

If a machinery is scraped just one day after purchasing it then is depreciation for 1 days charged or not ?

latest answer

If entity is using ERP, they may charge. It depends on materiality of the amounts involved.

Atharv Sankliya

CA Final

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250

Relevance of Traditional approach

answered on 25-Oct-22 19:05

Are these questions are for just understanding or maybe asked in exams also...how are these questions relevant in exam POV

latest answer

Chances are low

Yamuna S

CA Inter

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3

269

Dept accounts

answered on 25-Oct-22 01:17

Can we net off this stock reserve or should we show seperately opening and closing reserve

latest answer

You can

Sugam SM

CA Foundation

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262

PVR -rrr deal accounting

answered on 26-Oct-22 11:25

1- PVR and RRR filmmaker tie up to promote movie by changing the logo of PVR to PVRRR . in consideration PVR receive income so the expenses to change the logo on every premise is recorded as ??

latest answer

It can be branding expenses. You can use any name till it represents the nature of expenses.

Atharv Sankliya

CA Final

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356

Consolidation

answered on 26-Oct-22 11:28

Here interest â?¹400 is inter company balance which is to be eliminated right? They have eliminated but have also added â?¹400 in reserves and surplus ( profit and loss A/c) of holding company in consolidated balance sheet as qccrued interest.... Why?

latest answer

Since it is not yet accounted, there is not need for any further adjustment.

parvesh s

CA Final

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267