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AS 13
Accountancy
answered on 15-Apr-22 11:47
In AS 13 scope, it is mentioned that this standard is not applicable for Mutual funds. But , In dec exam, there is a question pertaining to mutual funds investment. In suggested answers, they have treated it as investment and proceeded. whether should i consider it as investment or not ? anyone
latest answer
It is not applicable for Mutual Fund accounting i.e when a mutual fund prepares its accounts. But when an entity purchases mutual funds units then itâ??s applicable
vs navin
CA Final
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1
380
Doubt
Accountancy
answered on 15-Apr-22 17:41
In this question they had taken depreciation in trading a/c instead of profit and loss account. They have given the valid reason for it in suggested answer But if I charge depreciation on profit and loss account I got different answer Will they provide Mark's If depreciation is charged on p&l .. becoz it is odd to charge dep on p&l ..
latest answer
Thank u
Sri kanaga Varshini
CA Final
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3
337
Advance accounts
Accountancy
answered on 15-Apr-22 20:37
When we transfer nominal value of buy back shares to CRR out of FR.. is their any sequence of FR to be used..
latest answer
Ok .. thanku
Priyanka Agrawal
CA Inter
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3
375
IND AS 21
Accountancy
answered on 15-Apr-22 09:32
In example 3, Why to reclassify full amount to p&l, even the parent has some insignificant control over subsidiary
latest answer
Once control is lost, it is considered as disposed.
Chandu vadla
CA Final
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1
343
Insurance claims
Accountancy
answered on 13-May-22 10:17
Iam not able to understand this step in ill8 of chap10 regarding the adjusted annual turnover.pls help me
latest answer
Actually, trend is not given here,thts the problem We cannot compare 2 affected periods turnover to compute trend (as icai did in this sum) Solving this sum without trend gives u the same answer
Anirudh gupta
CA Inter
★ 27K+
13
533
Calculation of short sale
Accountancy
answered on 15-Apr-22 17:37
In illustration 8 of icai material ,the short sale in directly given ,and there is no mention of any trend ,but they have adjusted the short sale ,considering the the reduction in turnover is completely in the first 3 months Can anyone explain this pls ,or there is any mistake in the material
latest answer
Thank you so much for the answer sir
mani charan
CA Final
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3
373
Liquadation
Accountancy
answered on 16-Apr-22 17:40
Sir,can kindly explain calculation of liquidator remuneration and money contributed by equity shareholders I couldn't understand the working of icai
latest answer
Shortage of funds is 19,600. If you call 100 from shareholders , you need to pay 2 to liquidator. So net balance left would be 98. We need total of 19,600. For net balance of 98, 100 is called from shareholders For net balance of 19,600, how much? Cross multiply : 19,600 x 100 /98 = 20,000
Vysali Pasumarthy
CA Inter
★ 1K+
1
325
Partnership accounts (Unrecorded liability )
Accountancy
answered on 15-Apr-22 17:41
What is treatment of Unrecorded liability taken over by purchasing firm and also explain the reason
latest answer
While calculating purchase consideration reduce it.
Vemula Mounika
CA Final
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1
331
Redemption of Debentures
Accountancy
answered on 14-Apr-22 17:14
In the question its said that the balance on 31/3/20X2 is Rs. 750000 Then why in the answer the balance on 31 -3 - X2 Taken as opening ? And why is the Debenture interest not recorded ?
latest answer
Opening balance means for that day before the transactions were carried out. You can make an assumption and record debenture interest paid as well. Other wise make an assumption (as ICAI has done) that debenture interest is already paid.
R M
CA Final
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2
431
Company accounts
Accountancy
answered on 13-Apr-22 19:52
Sir while preparing p and l account is it compulsory to segregate expenses and post or we can post expenses as given in trial balance Eg like depriciation I mean should we provide classification in schedules or we can directly post to p and l
latest answer
Ok sir
Pandusml V
CA Final
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2
287