As 29

answered on 25-Feb-22 10:04

Past event and obligating event different r same

latest answer

Yes they're different

Nivetharaman Raman

CA Foundation

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293

As 4 nd as 29

answered on 25-Feb-22 11:34

Should I study as 4 and as 29 Separately or study both together ?

latest answer

The treatment is already explained above.

Nivetharaman Raman

CA Foundation

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5

300

Acc

answered on 24-Feb-22 10:30

can anyone explain the seventh point which was given in below image in simple.terms..... Tq.

latest answer

A Ltd (lessee ) takes a building for 50 years with economic useful life of 55 years from B Ltd(Lessor) . As per lease agreement , at the end of lease period the ownership title of the building will be transferred to the lessee, then although lessor is legal owner till last instalment is paid, according to the economic reality, A Ltd is like the owner, because lessee is controlling building and is deriving maximum economic benefits from it and lease term is as good as useful life. So according to this concept the building will be recorded as an asset in the financial statement of the company, will be depreciated as any normal asset, and remaining payments will be deemed as a decrease in liability rather than lease rental.

Balachandar S

CA Inter

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3

351

Inventory

answered on 24-Feb-22 10:35

Purchase during 1st April 29 April amounting to 10000 goods amount to 2000 not received till the date of stock

latest answer

Adjust 8000

himanshu vyas

CA Inter

★ 0

1

290

Partnership

answered on 22-Feb-22 10:50

What is the difference between partner's capital AC and profit and loss appropriation ac? And when is it used? Respected faculties please help me clear my confusion. Thank you.

latest answer

Capital accounts yes. P&L appropriation is usually not required to be made at that time.

Chris Topher

CA Foundation

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4

315

Basicz

answered on 21-Feb-22 07:54

Is Leasehold premises currant asset or non currant assets?

latest answer

If someone has taken on an operating lease - it is not an asset in their books. If someone has given an operating lease it is a noncurrent asset. If it is a finance lease - pls check for treatment in AS 19

Sumita Shah

CA Inter

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344

Triple column Cash book

answered on 21-Feb-22 09:47

So here Adit transaction(7thMarch) should be actually in cash column as per condition of question saying all cheques treated as cash receipt initially.So is this right or Is study material right? I think I am right as per condition of question.

latest answer

Please post the question

Sugam SM

CA Foundation

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261

Financial statements

answered on 19-Feb-22 09:41

How to treat Provision for taxation :- 50000 Income tax paid :- 40000 While preparing profit and loss account and balance as per schedule 3.

latest answer

PL dr 50000 BS Provision 50000 liability Advance tax 40000 asset

Hemanthkumar Hemanth

CA Foundation

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1

270

Chapter 1

answered on 19-Feb-22 09:17

can anyone explain the third question of sub part no -01 was given in below image With logic also pls anyone......

latest answer

Ok sir

Balachandar S

CA Inter

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4

310

Bill of exchange

answered on 19-Feb-22 11:59

Can we give an Part to X on second bill drawn by Y

latest answer

There seems to be a missing line in question after with he help of which the first bill, but yes usually some amount will be given to X.

Gaurav Vyas

CA Foundation

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1

315