Financial Statements of Companies

answered on 26-Apr-22 15:12

Can someone explain point (c)

latest answer

Loss upto WDV - Cost is allowed.

Swetha S

CA Inter

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281

Preparation of final account of sole proprietor

answered on 25-Apr-22 07:23

On 7.11 and 7.12 there are two illustrations 1st in first illustration it shows that if closing inventory shown in trial balance that it means that it is adjusted while, in second illustration closing inventory shown in question (so it means that in purchases it is adjusted ) but they had shown it in trading a/c

latest answer

Yeah ! I had not noticed it

Nai Jay

CA Inter

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2

310

Investment account

answered on 24-Apr-22 19:24

If we Receive interim Dividend (Post acquisition)have to transfer to P&L or Investment account ,if P&L then Why ? Plz Explain.

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Tq

VV shetty

CA Inter

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5

254

Partnership , Valuation of goodwill illustration 11

answered on 26-Apr-22 15:16

Adjustments a and c. So here I didn't understand the adjustment Understood the depreciation part but why did they add. Even adjustments C so the abnormal items or loss by fire it shouldn't be considered in trading account but correctly debited to Profit and Loss account.

latest answer

Charge is always an expense. You are charged for XYZ services.

Sugam SM

CA Foundation

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9

267

Partnership

answered on 24-Apr-22 13:29

Will they give both old psr and new PSR in exam in order to account the goodwill as Sathya sir thought us the method in that way. So is it not necessary to learn all those sacrificing ratio gain ratio.

latest answer

Sir I think it's in admission section. Let me check

Sugam SM

CA Foundation

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6

273

Nature of accounts transactions debit and credit

answered on 24-Apr-22 13:27

For instance I have purchased 50000 worth of goods of Mr Shankar. In my tally accounting software I enter this entry purchase entry 50000.. few days later I am going to pay this amount..1. if I passed the payment entry means if I wants to payable means which side it will show debit side are credit side and if I paid means which side it will show table credit side?? Please tell me

latest answer

Purchase ac To shankr In balance sheet purchase will under closing stock at asset side and Shankar will come under creditor head at liability side

MPR Sanjay Kumar

CA Inter

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269

B List Contributories- Liquidation of Companies- Advanced Accounting

answered on 24-Apr-22 07:39

Can anyone please explain to me that in the given question, how did the figure of â?¹50 is arrived at (in the last row in last column)? I am not able to get it.

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I've got this. Thanks for the attention anyways.

Pratik Badade

CA Final

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790

Cash flow statement

answered on 25-Apr-22 08:17

In this illustration 12, why they are adding the prov for depreciation amount to the value of plant and machinery

latest answer

The solution given in study material can be confusing. Follow the below steps 1. Transfer the cost of fixed asset sold to a separate account called "Fixed Asset-Disposal" Account Dr. FA Disposal A/c Cr. Fixed Asset Account 2. Transfer depreciation pertaining to fixed asset sold to FA disposal account Dr. Provision for Depreciation Cr. FA Disposal Account 3. Amount realised on sale Dr. Bank Cr. FA Disposal Account 4. Balancing figure will be gain or loss.

vs navin

CA Final

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11

331

Cash flow statement

answered on 24-Apr-22 07:31

How to choose which method to use either direct or indirect? Anyone

latest answer

Correct

vs navin

CA Final

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3

304

Cash flow statement

answered on 23-Apr-22 16:28

Difference between advance tax and provision for tax and relation between them in the accounting treatment

latest answer

https://youtu.be/q6OpWp30lQM Have explained in detail here.

mani charan

CA Final

★ 3K+

1

241