AS 5

answered on 26-Oct-22 09:17

Sir, this is May 18 RTP Question. They have mentioned that the sale of land is an extraordinary item. Is it an extraordinary item or an ordinary item of exceptional nature? In the lecture, Sir mentioned it as an ordinary item of exceptional nature.

latest answer

Thank you

Dhivyaa Latha

CA Inter

★ 4K+

7

568

Provisions for doubtful debt

answered on 26-Oct-22 11:30

If old provission is given in trail balance , does it will be less in debtor in balance sheet.

latest answer

To treat provision for bad debts as a liability is incorrect.

Anvar Ansari

CA Inter

★ 2K+

16

486

Buy back

answered on 23-Oct-22 07:21

Is there any difference between redemption of shares and buy back of shares?

latest answer

Redemption is used for redeemable shares. Buy back in other cases

Girinath A

CA Inter

★ 765

1

223

Net owned fund!

answered on 22-Oct-22 21:30

Is the solution is correct?

latest answer

ð???

Kumar G

CA Final

★ 12K+

2

324

Issue of shares

answered on 23-Oct-22 09:43

Please explain this sum....its very imp for exam...

latest answer

Amount to be credited to Forfeiture = Amount credited to share capital which is received. Here amount received = 1,125 x 4 (application) + 3,375 = 7,875

Vikas Patwari

CA Foundation

★ 3K+

11

275

profit & loss pre and post incorporation

answered on 23-Oct-22 13:19

what is the treatment for the "Advertisement" when the question is silent about whether it is particularly for sales or common for the whole year?

latest answer

thank you sir

PRANESHWARAN VENKATACHALAM

CA Inter

★ 10K+

8

210

Loss Recovered From Minority Interest AS 21

answered on 23-Oct-22 15:26

We already accounted for the loss of Minority interest(Beyond Face Value) as holding company loss for the Purpose of Consolidation.if we recover the loss what is the entry sir ?

latest answer

You will reverse the earlier adjustment made.

M Naresh

CA Final

★ 3K+

1

239

Wip valuation

answered on 22-Oct-22 16:00

How do we value wip, it is not given in any of the accounting books, be it ca foundation, inter or ind as 2 in ca final

latest answer

Cost of Rm , conversion and oh

MS Kishore

CA Inter

★ 1K+

4

224

Liquidation deficiency acc

answered on 22-Oct-22 13:09

Please anyone explain me the deficiency a/c of the sum attached along wid ur workings

latest answer

PFA -answers

Sai Swetha

CA Final

★ 7K+

2

305

Amalgamation of Companies

answered on 21-Oct-22 17:19

If nothing clearly specified about the method of calculation of Purchase consideration, what is the simple way to identify whether it is net asset method or not?

latest answer

As you practice more questions, you would understand. Generally details of value of assets would be given - it would be net asset method.

Manoj Raj

CA Final

★ 12K+

2

261