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Trading A/C

Accountancy

answered on 13-Mar-24 14:58

If adjusted purchase is given the no need to write closing balance in Trading A/C right??

latest answer

Thank you sir

Vijaya Lakshmi Pojula

Vijaya Lakshmi Pojula

CA Foundation

2K+

3

66

Profit sharing ratio

Accountancy

answered on 13-Mar-24 14:35

According to the video can we take 1:1:1 every time if new or old PSR is not given

latest answer

Ok sir

Arjun

Arjun

CA Foundation

6K+

2

35

Doubt regarding refund of tax adjustment

Accountancy

answered on 13-Mar-24 13:48

Please explain the treatment regarding refund of tax. Im getting answer as 42600 , when i added 1000 rupees refund of tax

latest answer

Pls share your working.

Parvathy Ajith

Parvathy Ajith

CA Inter

0

1

67

Query in sale of land

Accountancy

answered on 11-Mar-24 12:31

Sir, it's actually on 1/4/01 amount of 480000 mentioned in question but u have mentioned as 440000 where is difference coming around 120000 but u have mentioned in book as 160000 Whether any other adjustments I have to be noted

latest answer

We made changes regarding that and uploaded in free resources

nive krish

nive krish

CA Inter

255

1

69

PLEASE HELP ME SOLVE THIS QUESTION

Accountancy

answered on 09-Mar-24 20:53

The Net profit before tax of Mitra Ltd was Rs 100 lakhs and the Income Tax rate was 37%. The company’s preference share capital has the following classes12% Non Cumulative preference share capital 10% Cumulative preference share capital In its accounts, Mitra Ltd. has declared/ paid following dividends on preference capital: On No cumulative preference shares- fully declared for the current year. On cumulative preference shares- for the past three years. Assume dividend distribution tax at 17% and that the company transferred Ra 5 lakhs to general reserve. You are required to calculate the net profit for the period, attributable to equity shareholders.

latest answer

Which video are you referring to?

Angry Toshniwal

Angry Toshniwal

CA Inter

505

3

127

AS 10 PPE

Accountancy

answered on 10-Mar-24 13:19

Dear sir, Interest charges paid to the supplier of the plant for the "deferred credit term" means sir? Why is it not included while calculating the cost of assets? It's also mentioned in study material that it is not a qualifying asset.

latest answer

Okay sir. Thank you so much for clarifying.

Harshavardini K B

Harshavardini K B

CA Inter

6K+

3

42

Recognition of Bonus Payable - Interim

Accountancy

answered on 10-Mar-24 12:56

Hi sir, hope you're well. Bonus payable, must be proportionately accounted for prospectively over the interim periods, only if the same is a legal obligation. My doubt is whether the same treatment must be given, if the obligation isn't legal but constructive? Thanks.

latest answer

Yes

Devaprasad Jothimani

Devaprasad Jothimani

CA Inter

0

1

36

As 28

Accountancy

answered on 10-Mar-24 13:01

I gone through the classes but still it's not clear that what is the difference between Bottom up test and top down test. In both the impairment loss is primarily setoff with Goodwill and secondarily with carrying amnt. Then what is the difference? Kindly consider my queries. Im really confused.

latest answer

Say we have 3 CGUs - A, B & C. If goodwill can be allocated on reasonable basis we allocate goodwill to A, B & C and test for impairment of each CGU - This is bottom up. If Goodwill cannot be allocated on reasonable basis, we identify the next higher level CGU. Say combination of A, B & C and then test for impairment of all three CGU (larger CGU) including goodwill. This is top down.

1 Minute Review

1 Minute Review

CA Inter

105

3

63

As 25 Interim financial report

Accountancy

answered on 08-Mar-24 14:40

Can I know how the ansr 17000 is computed?

latest answer

Ok sr

1 Minute Review

1 Minute Review

CA Inter

105

2

90

Provision for depreciation

Accountancy

answered on 10-Mar-24 13:10

In a companies balance sheet, should provison for depriciation be shown as a short term provision ? Or should the net value of asset be shown in asset side

latest answer

Reduced from the Gross book value.

Parvathy Ajith

Parvathy Ajith

CA Inter

0

2

68

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