Forfeiture and reissue of share

answered on 21-Jun-22 09:26

Q (iii) does not compliance with Companies Act 2013. As per Section 52 a company cannot issue share at discount except in case of sweat equity shares. How to solve if this type of question ask in exam ? Pls explain the entries.

latest answer

Thank you

Jitendra Kumar

CA Final

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5

300

Chapter 2

answered on 19-Jun-22 17:01

Can I read notes only which are provided by indigo learn

latest answer

Yes

Vinay g

CA Inter

★ 175

3

281

Redemption of debentures

answered on 18-Jul-22 14:26

In the question(Illustration 6), there is an option to debenture holders to convert 20% of their holding into equity shares at a predetermined price of â?¹15.75 per share. Whether those who are exercising the option has to pay any money to the company?

latest answer

No.Its conversion of debentures to equity shares.

Rinuja TK

CA Inter

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3

315

Redemption of debentures

answered on 20-Jun-22 14:35

If the debentures are purchased within the interest period, the price would be inclusive of interest provided these are purchased "Cum-interest"; but if purchased " Ex-interest", the interest to the date of purchase would be payable to the seller additionally. In order to adjust the effect thereof the amount of interest accrued till the date of purchase, if paid, is debited to the Interest Account against which the interest for the whole period will be credited. As a result, the balance in the account would be left equal to the interest for the period for which the debentures were held by the company. Please explain above with an example

latest answer

lets say if ex-interest value=100 (F.V=100,INT@12%) interest accrued for 2 months =2 then cum- interest value = 102 then J.E would be debenture a\c Dr. 100 interest a\c Dr. 2 to bank a\c 102 after 6 months interest received bank a\c DR. 6 To interest a\c 6 so 6-2=4 this rs.4 is the interest income for 4 months (6= interest received for 6months, 2= interest paid for 2months )

Rinuja TK

CA Inter

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1

285

Journal entry

answered on 19-Jun-22 01:49

Can anyone explain this four4 transactions?

latest answer

There is not a big difference between petty cash and cash account.. Petty cash means a certain portion of amount will be kept and managed by a cashier called petty cashier for day to day operating expenses.. But cash account is not like that.. In the 3rd question there is a specific mention about the usage of petty cash that's why we drawn out of petty cash..

Sai G

CA Inter

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7

346

Npo

answered on 19-Jun-22 00:24

Can anybody help me that why opening balance sheet is showing" 400+100 " amount of honorarium

latest answer

*expense 100 and honarium 400

Nai Jay

CA Inter

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5

329

Measurement bases

answered on 18-Jun-22 18:44

Liabilities are carried at the undiscounted amount of cash or cash equivalents that would be required to settle the obligation currently. This is the treatment for liabilities under current cost basis. Here, what is the meaning of undiscounted amount of cash and cash equivalents? Pls explain.

latest answer

Ok sir. Thank you!

Sibi Srinivasan

CA Final

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2

284

Journal entry

answered on 17-Jun-22 22:16

Discount received results in asset increase then why it is credited? ð?¤?ð?¤? *13 question

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Tq

Sai G

CA Inter

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9

552

Account

answered on 17-Jun-22 20:19

Is it right? ( he withdrew cash from business for personal use) Cash alc dr To bank alc

latest answer

There is a option available in Indigo learn application ,where u find study planner if u enter all ur details it will draft a plan for u .follow that ...

Sai G

CA Inter

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8

321

Doubt

answered on 20-Jun-22 16:58

Can any one explain the exact concept of conservatism and realisation it's some what tough to understand

latest answer

OK sir thank you

sai t

CA Foundation

★ 2K+

9

394