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Interest on Partner's Loan - Partnership accounts
Accountancy
answered on 09-Feb-22 13:46
sir , interest on partners loan would be credited to partners loan a/c , why to capital a/c ???? It has been taught to us . Is it correct ?
latest answer
Interest on partners loan would be credited to partner's capital account. Butin case of seprate partners loan A/c. you should credited to that A/c.
Varun Mulay
CA Final
★ 39K+
1
543
Consignment account
Accountancy
answered on 09-Feb-22 11:14
Agar question me consignor goods ko invoice par show karta he to closing stock ki calculation ke time konsi cost per show karega iv par ya cost par
latest answer
On credit side show at invoice value, on debit side show Inventory Reserve. In Balance sheet, we will show Inventory on Consignment Less: Inventory Reserve
Marwadi Bhai
CA Foundation
★ 830
1
453
Company Accounts
Accountancy
answered on 09-Feb-22 13:37
Every listed company is a public company but every public company is not a listed company. Explain with example.
latest answer
Thank you sir!
Jitendra Kumar
CA Final
★ 41K+
2
517
Current cost
Accountancy
answered on 06-Feb-22 12:43
What is mean by undiscounted amount in simple words??
latest answer
Which is not discounted
Vanathi V
CA Inter
★ 345
1
527
Consolidated financial statements in Advanced Accounting
Accountancy
answered on 05-Feb-22 11:06
Hello I have a small doubt in the concept of consolidated financial statement, The one if the topic in the CFS is profit or loss of subsidiary company. The company made a investment (60%of stake) in " b" limited then" b" Limited could be a subsidiary company. That subsidiary company earned the profit and already they have reserves in the company before the acquisition , Ordinarily before acquisition period profit and reserve are shown in the subsidiary company books account but in the book theory they are adjusted against cost of control to find out the goodwill and Capital Reserve on consolidation why? How?
latest answer
Before acquisition period profit and reserves continue to be shown in subsidiary books. It's just that at time of consolidation, we need to find out whether holding company paid extra or less. If it paid more than it's share in capital and reserves, we call it goodwill, otherwise capital reserve. Check example 1 for reference
venkatesh sundharamoorthy
CA Final
★ 34K+
1
642
Amalgamation and external reconstruction
Accountancy
answered on 05-Feb-22 10:51
In this problem i can calculate upto purchase consideration,can anyone explain me after that
latest answer
Intrinsic value can be calculated by net assets / no. of shares. Example for Star Ltd. we will have (7.75L + 2L+ 2L+1.6L + 4L - 1.5L - 85k) / 7500 = 20. Then calculate for Shine Ltd. From that you find ratio of exchange. Journal entries and Balance sheet as usual. Is there any specific doubt?
sriram kannan
CFA L1
★ 0
1
769
AS-10 RTP 2018
Accountancy
answered on 04-Feb-22 17:30
Here they gave only lifts and fixtures have no residual value and they will be depreciated at cost itself but,sir depreciated everything assuming other particulars i.e., roof as well as buliding has nil residual value but this isn't mentioned in the question.
latest answer
It is assumed that even those would be nil. As no info is provided for this
Sugam SM
CA Final
★ 9K+
1
492
Advanced accounting
Accountancy
answered on 04-Feb-22 17:14
Is it compulsary to learn all the schedules in banking companies?
latest answer
Yes
Navya Danda
CA Inter
★ 55
1
534
Doubt on Advance accounts regarding ESOP chapter
Accountancy
answered on 05-Feb-22 10:41
Is Exercise price-(minus)Market price = Fair value of shares? In the journal entries which we pass , employees stock compensation expense (which we are amortizing ) is no.of shares * fair value of shares or no.of shares * (exercise price - market price)
latest answer
Thanks a lot sir...for clarifying my doubt ð???
Ps v
CA Final
★ 16K+
2
434
Branch accounts
Accountancy
answered on 04-Feb-22 11:28
How to calculate branch manager salary? Anyone They took( NP * 1/11) why?
latest answer
Because its 10% commission after charging such commission so we know the value for 110% and we are finding out what is 10% so NP x 10/110 = NPx1/11
vs navin
CA Final
★ 1K+
1
462