Forfeiture of shares

answered on 07-Sep-22 22:31

Here in the illustration, Why they debited the Equity Share Captial a/c ? The total equity share should cancelled in case of forfeiture,but again why we debiting it ?

latest answer

In accounts point of view one entry if you want to cancel reverse that entry. Thats was made in that illustration....

Shiva Netha

CA Foundation

★ 12K+

5

406

Level of entity

answered on 08-Sep-22 10:55

As per Accounting standards in which level of entity a trust is covered.

latest answer

https://youtu.be/SBz6fh6rFJI

Sindhu

CA Final

★ 765

1

245

BANKING COMPANY

answered on 14-Sep-22 07:50

Can anyone explain me the marked part. Thanks in advance

latest answer

Ok sir

theee k

CA Final

★ 435

2

269

Advanced accounting - doubt in AS 4

answered on 06-Sep-22 19:49

Could someone explain why cheques received after balance sheet date become non adjusting event here?

latest answer

Thank you sir!

Vijayalakshmi Sekar

CA Inter

★ 5K+

2

312

Insurance claims

answered on 06-Sep-22 20:02

Kindly explain 75000 sales adjustment what to do ??

latest answer

Remove from sales so that it is a part of stock. Same as illustration 3 in Study material.

Dhakshana Dhakshana

CFA L2

★ 18K+

2

299

Concept of depreciation

answered on 29-Sep-22 15:57

For calculation of depreciation, shall we consider net method or Gross method in exams

latest answer

Mentioned in the question

Pandiri Varun kumar

CA Inter

★ 700

5

308

Journal and Ledger

answered on 06-Sep-22 22:23

Please tell me the Journal entries for transactions of Jan 19 Jan 25 Jan 26 Jan 27

latest answer

Discount/Rebate Account To Ahmed & Co.

Ardhendu Sekhar Acharya

CA Inter

★ 250

7

404

Can I ask My Doubt

answered on 06-Sep-22 18:46

Can I ask Doubt Here (If I encounter any); if I have not purchased classes from Indigo Learn?

latest answer

Yes u can

A B

CA Inter

★ 105

2

347

Accounting Equation

answered on 08-Sep-22 10:37

Please help in bit no.(iii) and (xi) (iii) Sold his personal car for Rs 50000 and deposited in the firm's Bank Account (xi) Invested in shares

latest answer

Thanku sir

Ardhendu Sekhar Acharya

CA Inter

★ 250

7

428

Accounting Equation

answered on 06-Sep-22 19:31

What is the change in Assets or Liabilities in case of 1. Money withdrawn from bank for personal use 2. Purchased a cycle for his son/brother 3. Sold his owned bike for Rs 50000 and deposited the amount in bank account.

latest answer

2. Increase in drawings and reduction in cash/increase in creditors 3. Increase in capital and increase in bank

Ardhendu Sekhar Acharya

CA Inter

★ 250

2

263