CRR

answered on 30-Sep-21 17:13

What can be used to create CRR in case of Redemption of 1) Preference Shares 2) BuyBack of Equity Shares

latest answer

1. Free Reserves + Surplus in Profit and loss 2. Free reserves (For buyack free reserves include Securities Premium) + Surplus in Profit and loss

Lalit Sanpal

CA Final

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1

362

Investment accounts

answered on 29-Sep-21 15:39

If nothing is mentioned in the quz sd we provide dividend for bonus shares and right shares?

latest answer

yes

Shru Kanda

CA Inter

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324

AMALGAMATION OF PARTNERSHIP Q NO 04

answered on 14-Oct-21 19:43

why we are taking deena bank ac in realisation ac 25000 and again bringing it in PC computation

latest answer

Closed = not paid

JAYANAND PALLIKKAD

CA Inter

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6

317

Presentation doubt

answered on 29-Sep-21 11:12

Should i need to follow order for financial statement, consolidation 1 BALANCE SHEET 2 PROFIT AND LOSS 3 WORKING NOTES Or may i do reverse as above order ?

latest answer

Thank you sir

Balaji R

CA Final

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387

partnership dissolution

answered on 02-Oct-21 09:32

there is no 9 th question in the material where i will get it

latest answer

Are you talking about IL material ?It was an addition to the videos. We will update the notes this week. For mean while look at illustration 5 in https://resource.cdn.icai.org/66639bos53803-cp2u1.pdf

JAYANAND PALLIKKAD

CA Inter

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1

394

AS 16

answered on 29-Sep-21 11:02

Solution of below attached AS 16 question ?

latest answer

You need to apply average rate since the total amount of borrowing is different from the amount spent.

Chandan Subudhi

CA Final

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333

Please say what will be the journal entries

answered on 29-Sep-21 07:12

5000 Due by Mr.X was Omitted to be taken in Trail balance

latest answer

Thank you mam

Dhakshana Dhakshana

CFA L2

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346

Insurance

answered on 28-Sep-21 20:46

For example , in the loss of profit The insured amount for 6 months is 125000 And the insurable amount is found on calculating Gross profit multiplayed with adjusted annual turnover. And we see the product of that calculation is out of 12 months turnover Since the insurance company has told to they will cover only for six months . Why should we have insured for entire years profit and pay insurance premium. And compare six months of profit claim 12 months profit

latest answer

Practically, insurance policies are taken on yearly basis. Hence, yearly figures are considered. Indemnity period is the period within policy period for which insurance company becomes liable to compensate. So, by taking a policy business insures itself for a year. However it gets compensated, only for the loss during period of indemnity.

Susai Yappan

CA Inter

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321

Retification or error

answered on 01-Oct-21 18:47

Give me solution of this Q-10=(d)

latest answer

Considering paid acceptance is bills payable, so the rectification entry will be Bala Ram A/c Dr. 7600 To Sita A/c 6700 To Bills payable A/c 900

Rakesh Shah

CA Final

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434

Investment accounts

answered on 28-Sep-21 20:49

Can any one explain what is mean by investment acquired on cum right basis

latest answer

We know right offer is a right granted to a shareholder to subsribe to shares of the company at a price which is lower than the market price. Since, it represents benefit, it generates demand for shares and as a result, price of share increases. So, if someone acquires shares during such period, we say investment was acquired on cum-right basis, that is this new shareholder will now have a right to subscribe to shares.

Sairam Reddy

CA Final

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5

299