Forums
classification of entity
Accountancy
answered on 17-Dec-24 15:05
In case any one of the category is not met the level 1. Is considered as large size entities or not?
latest answer
If any critieria is met, it is considered as large.
bharathipriya
CA Inter
★ 3K+
1
97
doubt
Accountancy
answered on 16-Dec-24 14:55
sir one doubt i start my CA preparation from 18 April in an offline institute iam come from science background so i totally confused about the journal entry , debt, credit & its posting but when so i think that an online institute which will help in my way so one of my friend said about indigo learn when i watch the reference classes of you i really like it & i joined it in step 10 onward but due to some family reason i start my CA journey in october onwards & I fouse on januvary attempt but i didnt get enough time to practice questions my parents u want to pass foundation in first attempt can u help is it good in januvary or june attempt my main thigh that i dont get much time to practice question in 4 papers & the syllabus also revised & me from science background so can u sugest any remedi to me
latest answer
Responded at other query. We can continue our discussion there. You can see your previously asked questions under My Forum Activity.
Rehanabin
CA Foundation
★ 100
1
109
RETIREMENT OF PARTNERSHIP
Accountancy
answered on 16-Dec-24 12:11
I HAVE DOUBTS IN CAPITAL PROPORTIONATE PORTION . CAN YOU CLARIFY IT BRIEFLY
latest answer
Whats your doubt?
Keerthana Sankar
CA Foundation
★ 0
1
98
based on previous year question discussion
Accountancy
answered on 13-Jan-25 10:07
sir can you upload previous year mtps , rtps of all chapters in accouts video class it become more help full to analysis the different type of questions please sir its my request please considerd it
latest answer
ADD more questions pls
Rehanabin
CA Foundation
★ 100
6
244
Amalgamation
Accountancy
answered on 17-Dec-24 15:49
What's the reason for variation in the 2nd journal in case of nature of merger & purchase
latest answer
Thank you Sir
Soon to be CA
CA Inter
★ 4K+
6
433
Amalgamation
Accountancy
answered on 15-Dec-24 08:01
Generally we do not include debenture holders in purchase consideration but why it’s included in the net asset method?
latest answer
No worries
Soon to be CA
CA Inter
★ 4K+
3
367
9th Question
Accountancy
answered on 16-Dec-24 15:01
Why is only one month's interest income taken to reduce it from the borrowing cost?
latest answer
A company borrowed Rs. 1,00,000 on 1st April 2017 for the purpose of acquisition of a qualifying asset. The loan attracts an interest rate of 12% per annum. The company incurred 1% of the loan amount as processing charges. The qualifying asset was ready by 30th September 2017 . The company initially had surplus fund to the extent of Rs. 50,000 which was deposited in a FD account bearing interest of 6% per annum for 1 month. The loan was repaid on 31st December 2017. What is the amount of borrowing cost to be capitalised?
V V
CA Inter
★ 3K+
4
539
Question 10
Accountancy
answered on 16-Dec-24 15:11
How is the amount of Rs 34000 arrived at, without interest rate given in the problem?
latest answer
When the funds have been borrowed generally then the amount of borrowing costs to be capitalized is to be calculated by applying a capitalization rate to the expenditure on that asset. The capitalization rate, here, means the weighted average of the borrowing costs applicable to the borrowings of the enterprise that are outstanding during the period, other than borrowings made specifically for obtaining a qualifying asset. However, the amount of borrowing costs capitalized during a period should not exceed the amount of borrowing costs incurred during that period. In case of borrowings which are not specific to the qualifying asset (also known as general borrowings). In the given case, the borrowing for truck is specific and will be excluded to arrive at the capitalisation rate. Capitalisation Rate = Total Interest / Total Borrowings x 100 = 43,000/5,00,000 = 8.6% Amount to be capitalised = 4,00,000 x 8.6% = 34,400
V V
CA Inter
★ 3K+
2
455
MCQ Test 1
Accountancy
answered on 26-Dec-24 10:50
Hello, for 10th question, how is the amount of Rs 34000 arrived at, without interest rate given in the problem?
latest answer
When the funds have been borrowed generally then the amount of borrowing costs to be capitalized is to be calculated by applying a capitalization rate to the expenditure on that asset. The capitalization rate, here, means the weighted average of the borrowing costs applicable to the borrowings of the enterprise that are outstanding during the period, other than borrowings made specifically for obtaining a qualifying asset. However, the amount of borrowing costs capitalized during a period should not exceed the amount of borrowing costs incurred during that period. In case of borrowings which are not specific to the qualifying asset (also known as general borrowings). In the given case, the borrowing for truck is specific and will be excluded to arrive at the capitalisation rate. Capitalisation Rate = Total Interest / Total Borrowings x 100 = 43,000/5,00,000 = 8.6% Amount to be capitalised = 4,00,000 x 8.6% = 34,400
V V
CA Inter
★ 3K+
1
388
Current assets
Accountancy
answered on 21-Dec-24 08:09
In current assets Sir was reduced 100 in 340 why not they reduced in 300 340 includes current liability, so we have to reduce it from 300 Is that correct, then balance sheet will not tally
latest answer
We will reduce from current assets. Liabilities will be shown separately in balance sheet.
Shivashankar Jawai
CA Inter
★ 2K+
1
443