Company accounts

answered on 11-Dec-21 22:57

If question says " Company Issued 10000 of equity shares " It is mandatory to write "Equity share application" Or only "Share application" is sufficient

latest answer

If nothing is specified we usually consider it as 'Equity share capital' but sometimes they'd particularly mention 'preference share capital' in that case we would take as per the question

Gopal Garg

CFA L1

★ 5K+

3

266

Partnership accounts

answered on 12-Dec-21 14:30

In practical question illustration 3why we are not disclosing kumar loana/c in realization a/c and carryingforward to capital a/c

latest answer

We can do both ways either we can take in realisation a/c transfer realisation gain to partners capital a/c or we can take in partners capital a/c transfer that gain to realisation a/c. So to avoid confusion go with general treatment - record in realisation a/c only

satya nagulapalli

CA Inter

★ 150

2

331

Bills of exchange

answered on 11-Dec-21 17:02

Can anyone please give a brief examples of drawer and drawee in bills of exchange

latest answer

Your most welcome ð???

Anitha V K

CA Inter

★ 4K+

5

358

AS 22

answered on 11-Dec-21 00:14

How current tax 20000 came?

latest answer

FY 2021 loss adjusted against future years and current tax computed on profit in excess of loss

Ashwathi selvanathan

CA Inter

★ 2K+

1

295

Banking companies

answered on 11-Dec-21 04:43

Percentages for SLR and CRR for current year

latest answer

CRR 4% SLR 18%

Kedhar Nath

CA Final

★ 24K+

1

256

Banking companies

answered on 13-Dec-21 16:12

provisions to be created What are the percentages

latest answer

Pls refer videos / ICAI SM

Kedhar Nath

CA Final

★ 24K+

1

275

Npo

answered on 11-Dec-21 11:50

In this sum can we assume that interest on investment has been received but not recorded in receipt & payment account? Otherwise can we assume that it has been due and it has been recorded in our assets?

latest answer

Interest on Investment they received or not,no exact information is given so that is receivable Interst on Investment receivable Dr. 1350 To Interest on Investment. 1350 (Beeing amount due for the current year recorded) Interest on Investment receivable is asset show it in asset side and interest on Investment is Income show in Credit side of income and expenditure account....

Sumita Shah

CA Inter

★ 2K+

3

299

As 20

answered on 10-Dec-21 15:07

Sir, Why in this sum weighted average no of shares are not calculated?

latest answer

OK sir thank you!

Miradevi S

CA Final

★ 14K+

4

285

AS 20

answered on 10-Dec-21 13:21

In below attached ques shouldn't be 10/12

latest answer

Thank you sir!

Miradevi S

CA Final

★ 14K+

4

266

GENERAL

answered on 10-Dec-21 13:49

what is reserve capital and capital reserve.................... and what is the difference between both of them in Layman's language can any one pls

latest answer

capital reserve is the reserve which is kept by the firm for future uncertenties wheras reseve capital is subscribed uncalled sheres.it not seperatly kept by firms it is not mandatory .

Bala Chandar

CA Inter

★ 5K+

2

301