Liquidation of companies

answered on 27-Sep-21 14:15

Sir this they spefically said bank OD 30000 will pay from DIRECTORs personal resources. Then why they shown in "liquidators final settlement account" as its are paying from asset which are realised

latest answer

The company will need to repay the directors.

Balaji R

CA Final

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1

308

Partnership

answered on 27-Sep-21 11:35

Why are prepaid expenses not realised?

latest answer

You will not get refund in most cases. Say you paid for insurance for a year. Insurance company is not going to refund you the premium.

Aman Mahajan

CA Final

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1

365

Doubt

answered on 27-Sep-21 14:17

Why this income in not reduced from cost of construction...As asset is still in construction...if not then in which case we would have reduce income from cost of asset Also what is incidental operations (income & expenses) both .

latest answer

Happening due to the PPE being acquired or constructed.

Kalash Ojha

CA Inter

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3

357

Current account

answered on 27-Sep-21 09:54

Please solve 1 question

latest answer

Please solve and post your solution, it will be checked and we will let you know if it needs correction

Neha singhroha

CA Foundation

★ 0

1

393

Please Explain what is provision simple way

answered on 27-Sep-21 10:05

What is provision and why do we need provision in accounting and what is provision for bad debt and provision for depreciation

latest answer

Amount put aside from the profit in order to meet a probable future expense or a reduction in the asset value. Its an estimate

Dhakshana Dhakshana

CFA L2

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4

355

Loss of profit

answered on 27-Sep-21 10:14

How to interpret with increase of cost dur to increase of sales

latest answer

Could you clarify your query.

Krishna kumar

CA Final

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303

Banking

answered on 26-Sep-21 05:39

What is the amount of statutory reserve? 20 or 25 percent

latest answer

At present it's 25%

Aman Mahajan

CA Final

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321

Profit prior to incorporation

answered on 25-Sep-21 18:36

Why interest on investment earned is allocated in pre incorporation period?

latest answer

Yeah.... I got....Thank you

Girinath A

CA Inter

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3

287

Subsidiary Books

answered on 25-Sep-21 17:45

ICAI module has 2 formats of Purchases book , which to be followed ??

latest answer

Thx bro

Varun Mulay

CA Final

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558

Bonus issue

answered on 25-Sep-21 16:44

A machine purchased in consideration of shares of company. Machinery a/c........DR. 1,50,000 TO share capital a/c. 1,00,000 TO securities premium. 50,000 Does these 50,000 in securities premium can be use for issue of bonus shares? As it is not realised in cash.

latest answer

The act does not prescribe such condition. SEBI has prescribed in its rules regarding security premium collected in cash. Now here, think of a situation where you would have issued shares to the person selliing machine and collected cash and again paid the same cash to buy the machine of 1,50,000 The idea behind restriction is that it should not be bookish or inflated.

Sairam Reddy

CA Final

★ 10K+

4

330