All

answered on 12-Sep-24 11:36

All accounts papers ca foundation

latest answer

Complete Company Accounts, partnership Accounts, Rectification, Inventories, Depreciation, NPO and Single Entry. Then focus on remaining chapters.

Subhashini S

CA Foundation

★ 5K+

3

411

Unrealized Profit

answered on 12-Sep-24 14:20

If inventory is valued @10% less means profit should also be reduced by 10% ? so unrealized profit will be 22,500 ?

latest answer

Understood sir Thank you

Anirudh Srinivassan N

CA Inter

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4

326

Sep 24 mtp doubt question no 4

answered on 12-Sep-24 11:53

In that amalgamation sum how to determine general reserve And exact model of that question is in book practice problem 12

latest answer

Leave it for now.

sri nekesh

CA Inter

★ 0

7

331

Hire purchase

answered on 11-Sep-24 15:17

How to solve hire purchase principal and interest value. when interest percentage is not given

latest answer

Step 1 - Compute difference between 1st and second instalment IN this case it is 5,000. Interest for year 1 = 5000*4 Interest for year 2 = 5000*3 Interest for Year 3 = 5000*2 Interest for Year 4 = 5000*1

Ramalaxmi K

CMA Inter

★ 250

3

259

Internal Reconstruction

answered on 10-Sep-24 19:31

Are we supposed to prepare capital reduction account while preparing balance sheet even when the question does not require the same specifically?

latest answer

Yess for sure!

Sagar Kathuria

CA Inter

★ 3K+

4

351

Doubt in Net Asset Value Calculation

answered on 11-Sep-24 15:33

Sir, Why is the 10% debentures not included in the liabilities while calculating Net Asset Value? If we subtract the debentures the Net Asset Value will be 8,10,000/- instead of 12,10,000/-. Please clarify.

latest answer

Thank you sir

Vidhya Anbu

CA Inter

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2

64

AS 11

answered on 11-Sep-24 19:08

Please xplain- wats happening on b/s date that long term finance (ii)

latest answer

Thank sir

vinodhene lakshmipathy

CA Inter

★ 11K+

4

292

Journal entry

answered on 09-Sep-24 17:05

Plese send journal entries for the above question.

latest answer

Journal entries are available in Study Material itself. If you have any doubt, you can ask here.

Bhawana Yadav

CA Foundation

★ 0

1

245

AS 12 - Grant in the nature of Promoter's contribution vs for specific fixed assets

answered on 09-Sep-24 11:45

Alps Limited has received the following Grants from the Government during the year ended 31st March, 2021: 1. Rs.120 Lacs received as Subsidy from the Central Government for setting up an Industrial undertaking in Medak, a notified backward area. 2. Rs.15 Lacs Grant received from the Central Government on installation of Effluent Treatment Plant. I understand that 1 is a grant in the nature of promoter's contribution as it is being given solely by reason of being setup in the notified area. However, I feel that 2 can also be considered as such since it is being granted for the construction of the overall plant, which may consist of multiple individual PPEs. Answer key treats 2 as a grant for specific fixed assets. Would both answers be considered correct?

latest answer

The first grant (Rs. 120 Lacs) qualifies as a grant in the nature of promoters' contribution because it is aimed at incentivizing the overall investment in a notified backward area without being tied to any specific asset. The second grant (Rs. 15 Lacs) is specifically tied to the installation of an effluent treatment plant, which is a specific fixed asset. Hence, it should be accounted for as a grant related to a specific fixed asset and not as a grant in the nature of promoters' contribution. When we use promoter's contribution, it is for a business set up as a whole.

Vishnu Muraleedharan

CA Final

★ 32K+

1

227

AS 4

answered on 09-Sep-24 18:21

(Q17 point 1) Why is this a contingent liability? Since it is a present obligation due to past events + there is a probable future outflow+ there is a reliable estimate

latest answer

Yess it is not mentioned... Got it

Sagar Kathuria

CA Inter

★ 3K+

2

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