Forums
Amalgamation
Accountancy
answered on 14-Oct-24 11:33
Can anyone explain the adjustment from general reserve for this question
latest answer
That's a confusing way to present answers. You take the net assets taken over and compare that with the purchase consideration.
Niveta Rajkumar
CA Inter
★ 6K+
2
343
AS 15 Illustration 6
Accountancy
answered on 14-Oct-24 11:38
How does reduce in unamortised past service costs leads to reduce in assets
latest answer
For explanation purpose considered as a notional asset. (Something like expenses not yet written off)
Nagachaitanya Nomula
CA Inter
★ 8K+
1
87
AS 19 Finance lease disclosures
Accountancy
answered on 14-Oct-24 11:40
I didn't understand point (a) and subpoints of point (b)
latest answer
a)Disclose Gross Investment in Lease and show the computation of present value of MLP. Basically discount Gross Lease Rentals and show calculation of PV of MLP b) It is an ageing analysis. Like how much will be received in the next 1 year and so on. Both in Gross Terms and PV terms.
Nagachaitanya Nomula
CA Inter
★ 8K+
1
103
Negative marks
Accountancy
answered on 13-Oct-24 15:55
Is there negative marks for MCQ's in Acc & Law .
latest answer
No
Lathika
CA Inter
★ 6K+
1
335
Branch Accounting
Accountancy
answered on 12-Oct-24 11:24
c) -In this sum , How to find Gp in Trading A/C
latest answer
Which part of the preparation of Trading account are you stuck on?
Lathika
CA Inter
★ 6K+
1
469
Schedule 3
Accountancy
answered on 10-Oct-24 09:37
From the following particulars furnished by NM Ltd. Prepare the balance sheet
latest answer
Please solve the solution by yourself. If you have any doubts while solving the solution ask them here
Pranav Ch
CMA Inter
★ 0
1
405
As19 Illustration 1
Accountancy
answered on 10-Oct-24 11:04
Question: X Ltd. sold JCB Machine having WDV of Rs.20 Lakhs to Y Ltd. for Rs.24 Lakhs and the same JCB was leased back of Y Ltd to X Ltd. The lease is operating lease. Comment according to relevant Accounting Standard if (v) Fair value is Rs. 18 Lakhs and sale price is Rs. 19 Lakhs Solution: (v) When fair value is Rs.18 lakhs & sale price is Rs. 19 lakhs, then the loss of Rs.2 lakhs (20-18) to be immediately recognized by A Ltd. in its books and profit of Rs.1 lakhs (19-18) should be amortized/ deferred over lease period. My doubt: shall we have to recognize the loss of 2 lakhs as impairment loss in the books of A ltd. ?
latest answer
it depends on different scenario. if sale price is higher than fair value, excess is ignored. if sale price is less than or equal to fair value - then sale price.
Nagachaitanya Nomula
CA Inter
★ 8K+
3
141
As 16
Accountancy
answered on 06-Oct-24 16:16
What is meant by qualifying asset??
latest answer
Usually 12 months, it depends on situation
MAHESH VASUPALLI
CA Inter
★ 98K+
3
429
AS 29
Accountancy
answered on 06-Oct-24 20:44
Audit & SM LTD Provides Sales Warranty For 3 years to its customer based on past experience the company has the following policies for making provision for Warranties on the invoice amount on The Remaining balance warranty period . Less than 1.5 years : 3.5 % Provision. More than 1.5 years : 4 % provision. The company has raised an invoice as Under Invoice Date Amount(₹) 26/7/2020 10,00,000 21/3/2020 4,50,000 14/8/2022 9,00,00 18/12/2022 6,50,000 You are required to calculate the provision made for warranty under AS 29 as At 31/3/22 and 31/3/23.
latest answer
As on 31/3/23 ₹10lac x 3.5% ₹900000 x 3.5% ₹650000 x 4%
Rana Darshan
CA Inter
★ 810
3
576
inventory
Accountancy
answered on 07-Oct-24 11:22
sir/mam is this representation of answer will get full mark
latest answer
Yes
Rehanabin
CA Foundation
★ 100
3
107