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Written off goodwill
Accountancy
answered on 02-Mar-22 09:13
What is meaning of goodwill written off?
latest answer
Written off means to reduce the balance by charging to P&L. If the value of the asset is impaired i.e. permanently reduced as of that day, then it is written off
Ved Bishnoi
CA Foundation
★ 150
4
568
Consolidation Accounts
Accountancy
answered on 05-Mar-22 11:50
In this question the final dividend paid on March 31,1980, is pre-acq dividend isn't it? If it is pre-acq and this dividend recieved by holding from subsidiary co. was correctly recorded in their accounts then why reduce it from cost of investment when actually there is no rectification required.The dividends recieved are properly recorded then why there is need for this rectification.Why reduce from Cost of investment
latest answer
The question says that the company paid 1,10,000. So this is the total amount paid. From this we need to reduce pre acquisition dividends.
pradyumna hariramani
CA Inter
★ 290
20
621
Rectification
Accountancy
answered on 25-Feb-22 19:19
Why suspense account is credited or having credit balance? Is it based on assumption?
latest answer
After putting all entry in the suspense account except opening balance then the suspense account has a debit balance which is equal to the opening balance and that's why opening balance of suspense account putting in the credit side.
Sugam SM
CA Final
★ 9K+
1
383
Acc
Accountancy
answered on 25-Feb-22 15:17
can anyone simply explain the meaning of floating charge and Obsolescence whixch was given in below image ....pls tq....
latest answer
Thankyou
Balachandar S
CA Inter
★ 59K+
4
520
As 29
Accountancy
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
★ 11K+
3
380
As 4 nd as 29
Accountancy
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
★ 11K+
5
431
Acc
Accountancy
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
★ 59K+
3
501
Inventory
Accountancy
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
433
Partnership
Accountancy
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
★ 5
4
446
Basicz
Accountancy
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
★ 2K+
1
474