AS10

answered on 14-May-22 18:09

As per AS10 when cost model and revaluation model should be used in measurement after recognition

latest answer

Thank you

Umayal Lakshmanan

CA Final

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308

As 2 valuation of inventory if sp is less than cost

answered on 15-May-22 10:32

In nov 19 exam paper 1(c) as2,why the cost is taken for valuation

latest answer

Yes

mani charan

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8

383

DOUBT ON AS 16

answered on 14-May-22 14:46

Loan of Rs.40,00,000 on interest rate 20% per annum taken on 1st july 2017 ... Loan was used for Purchase of plant and machinery worth 25lacs ... My exact doubt is the interest component on this borrowing why it is taken(as per the solution given) off to p and l as expense? Shouldn't it be added to the value of the assest?

latest answer

Ok i got it thanks ð???ð???

Ps v

CA Final

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7

267

Preference share

answered on 15-May-22 10:17

Even if there is any restrictions with min balance maintained in profit and loss the premium must be included in computation of requitement

latest answer

Premium paid must be reduced from P&L balance. And considering the remaining balance you would compute the number of shares.

Dimple Keziya

CA Inter

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1

260

Financial statements

answered on 15-May-22 10:12

Where will preference dividend paid wil come under balance sheet or profit or loss (wen given in trial balance)

latest answer

You will not debit to P&L (i.e in the preparation of P&L) You will reduce it from P&L balance in the balance sheet.

Kiran Vijay

CA Final

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5

301

Redemption of debentures

answered on 14-May-22 13:11

In illustration 4.y hv dey not calculated interest on debentures.. The entry is not passed..

latest answer

You can make an appropriate assumption in the exam.

Shru Kanda

CA Inter

★ 610

1

243

Preference

answered on 15-May-22 10:18

Sir in the computation of requirement amt for the redemption of preference shares (only for the face value )and for premium on redemption shall be sett off with P/L BUT Y IN THIS PROBLEM THEY HAVE INCLUDED THE PREMIUM AMOUT ALSO

latest answer

Reduce Premium amount from P&L balance to know how much of P&L can be used

Dimple Keziya

CA Inter

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3

243

Financial statements

answered on 14-May-22 14:26

How to prepare balance sheet if the firm is not going concern.

latest answer

Thank you

Umayal Lakshmanan

CA Final

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270

Regarding presentation

answered on 14-May-22 13:01

In answer sheet If my answer is in following order is it acceptable by examiner or is there any procedure to attend Example attending qu.no 2 option a first and Second question no 3 And later if I attend questions no 2 option b Is this type of answering ok or not

latest answer

Ok.....

poco m2 pro

CA Inter

★ 3K+

6

275

Insurance Claim

answered on 14-May-22 15:50

Can someone send a list of Uninsurable standing charges ?

latest answer

There is no specific uninsured standing charges. The question will list out whether the same are insured or uninsured.

Sundar Rajan

CA Inter

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6

283