Forums
Amalgamation of companies
Accountancy
answered on 13-Jun-22 09:42
Sir, In illustration 1 the study material is having rs. 8000 as purchase consideration . But we have arrived rs. 18000 as PC in class. Which one is correct sir?
latest answer
Actual purchase consideration is 18,000. The second part assuming that entry is to be made at par value then it is 8000. It is solved in the class. Please watch the video fully.
vs navin
CA Final
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1
309
Item of bank balance sheet
Accountancy
answered on 13-Jun-22 09:44
what are the undisclosed reserve? Just one example or why bank maintain it?
latest answer
Bank keeps aside some reserve without specifying the purpose to public. It could be any reserve.
Hrishikesh Ransing
CA Final
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298
Chapter 1
Accountancy
answered on 11-Jun-22 19:01
Meaning of point d last 3 lines
latest answer
Tnx bro
Sugam SM
CA Final
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3
341
.
Accountancy
answered on 18-Jul-22 14:28
Difference between money measurement concept and matching concept
latest answer
Matching concept says that revenue and expense relating to a financial year should be matched with the same year and should not be carried forward to subsequent years.Money measurement concept says that all the transactions should be denoted in terms of money and not in other terms
Be The Change
CA Inter
★ 11K+
5
402
Ca foundation
Accountancy
answered on 13-Jun-22 09:45
Why is freight on credit purchases credited to creditor's account?
latest answer
You can credit it to freight payable as well.
Monisha KM
CA Inter
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10
357
What will be the ratio of dividing COGS?
Accountancy
answered on 11-Jun-22 12:56
What will be the ratio of dividing COGS? Since Sales has increased do we need to take COGS in proportion of Sales.
latest answer
firstly, find out the sales ratio and then to calculate total income: - you can divide the sales and COGS separately in sales ratio, or - calculate (sales - COGS) you'll get gross profit i.e. (sales-COGS=GP) and then divide GP in sales ratio both the options give the same answer.
Hrishikesh Ransing
CA Final
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4
396
Partnership ac
Accountancy
answered on 11-Jun-22 16:35
I have uploaded the question and my own answer here .. I am getting realization ac ans correct but can u plz help where I am making mistake in cap or cash ac
latest answer
solvent partners should bring in cash equal to their realisation loss
PANTH PANCHOLI
CA Inter
★ 4K+
1
353
Redemption of preference shares
Accountancy
answered on 13-Jun-22 09:49
'To ensure that the interests of outsiders are not reduced, Section 55 provides for redemption of only fully paid-up shares.' Based on about please explain how redemption of partly paid-up shares affect the interests of outsiders?
latest answer
Partly paid up shares have some liability to the company. If you redeem them, the creditors would be at a loss - since someone who was supposed to pay money to the company is not paying. Also when fully paid up shares are redeemed, we transfer FV of the shares to CRR to ensure that the amount is not distributed as dividend.
Rinuja TK
CA Inter
★ 10K+
1
353
Brs
Accountancy
answered on 13-Jun-22 09:50
In this question if Dr bal of pass book on the top is taken as positive , answer is 9500 .if taken negative , it is 2500 .
latest answer
You can take either positive or negative sign. When you change the sign - the addition/substraction would also change. Pls follow a single method.
Reetikaa R
CA Final
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8
437
Securities Held for trade
Accountancy
answered on 09-Jun-22 19:26
Sir, as per AS 13 securities held for stock in trade are not investments and they are also excluded from inventories as per AS 2 then how should be they treated ?
latest answer
As per AS 13 Shares, debentures and other securities held as stock-in-trade (i.e., for sale in the ordinary course of business) are not â??investmentsâ?? as defined in this Standard. However, the manner in which they are accounted for and disclosed in the financial statements is quite similar to that applicable in respect of current investments. Accordingly, the provisions of this Standard, to the extent that they relate to current investments, are also applicable to shares, debentures and other securities held as stock-in-trade, with suitable modifications as specified in this Standard.
Hrishikesh Ransing
CA Final
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3
334