Doubt

answered on 18-Aug-21 20:32

In the question why are loans and advances taken as assets? How do we identify in such case whether loans and advances are asset or liability?

latest answer

Generally considered assets

Priyanka Udeshi

CFA L1

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415

Accountancy

answered on 19-Aug-21 23:37

Accountancy

latest answer

What ?

Vitthal Raykar

CA Foundation

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2

426

Question no.4/icai illustration 3

answered on 19-Aug-21 10:10

Need hand written solution explained by satya raghu sir please

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Send your answer we will correct if required

Bhavya Kumar

CA Final

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427

Redemption of preference shares

answered on 22-Aug-21 20:31

Since the pref shares redeemed is 17900.face value sd b 179000 right sir.. Y hv dey taken 180000

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Ok sir tq

Shru Kanda

CA Inter

★ 610

2

391

Company accounts

answered on 18-Aug-21 12:31

Subhas Ltd. invited applications for 20000 shares of Rs. 10 each at a premium of Rs.2 per share payable Rs.3 on application; Rs.7 on allotment including premium and the balance on first and final call. Applications for 25000 shares were received. It was decided: · To refuse allotment to the applicants for 1000 shares. · To allot in full to applicants for 4000 shares. · To allot the balance of shares pro-rata among the other applicants of the remaining applicants. · To utilize the excess application money in part payment of allotment money. Mr.â??Aâ?? holding 200 shares which were allotted pro-rata failed to pay the amount due on allotment and call. Mr.â??Bâ?? holding 100 shares to whom full allotment was made failed to pay the call money. Shares of both A and B were forfeited. 160 forfeited shares of â??Aâ?? and 40 forfeited shares of â??Bâ?? were reissued to Mr.â??Câ?? Rs.9 per share. Journalize the transactions

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Please send your answer we will correct if required.

Priya Anandan

CA Inter

★ 810

1

485

Goodwill

answered on 18-Aug-21 12:23

If no of years purchase not given in goodwill sum. Can we assume the years and calculate it

latest answer

Ok Thankyou sir.

S.P. RAYAN

CA Inter

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4

392

Writing off loss on issue of debenture

answered on 21-Aug-21 12:09

In this question , why have they taken 20lakhs for 1st and 2nd year ??

latest answer

Aree debentures are being redeemed at the end of 2nd year so the value of debentures o/s for the first 2 years will be 20 lakhs na .i.e., same amount will be o/s till the debentures are redeemed

Reetikaa R

CA Final

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3

443

Journals

answered on 18-Aug-21 10:13

Goods(cost price rs.200;sales price rs.250) taken by proprietor for personal use Ans: drawings a/c dr. To purchases a/c My doubt is what amount is to be recorded here cost or sales price and why?

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Thank you ��

gopika sivaperumal

CA Inter

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484

Issue of shares

answered on 18-Aug-21 06:02

Will it really work in real company like call up capital and called up arrears.... When companies issue ipo in stock market

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fine sir thank you

Aditya A.D

CA Foundation

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343

Sales ratio

answered on 22-Aug-21 20:31

Can anyone please find a sales ratio for the below attached question

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.

Susai Yappan

CA Inter

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7

413