Preparation of Financial Statement

answered on 16-Jul-24 12:48

why aren't we transferring profit on sale of machinery to capital reserve but showing it in other income in this question?

latest answer

Gain on sale of fixed assets is recognised in P&L

Niveta Rajkumar

CA Inter

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1

181

Depreciation - practical sum3

answered on 17-Jul-24 08:45

How did the value of depreciation is Rs.8350000 in dec 31?

latest answer

One truck is sold in october. So remaining 9 trucks we calculate depreciation for 12 months which is 81,00,000 and a new truck is purchased for 50,00,000 on that we calculate depreciation for 3 months which is 2,50,000 . So total sepreciation is 83,50,000

Dharshini S

CA Foundation

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3

132

Drawing journal entry

answered on 15-Jul-24 09:58

Can explain the drawing journal entry of Drawing A/C Dr To Purchase A/C How purchase A/C come to credit

latest answer

Since material is being withdrawn, we credit purchases. (This will reduce the amount of purchases for business)

Thomas Deva

CA Inter

★ 0

2

188

Capital reserve and minority internet

answered on 15-Jul-24 11:57

Sir how to dived capital reserve and minority internet to the post profit and pre profit. what is the percentage please tell me sir

latest answer

Pls follow the method given in lecture.

Anitha Raghu

CA Inter

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4

140

ADVANCED ACCOUNT AS 16 Q 6 ANSWER IS DIFFERENT

answered on 15-Jul-24 12:38

SIR AS 16 Q NO 6 ANSWER DIFFERS FROM CLASS AND IN PRINTED BOOK I.E INTEREST TO BE CAPITALISED RS. 91517 I

latest answer

Both solutions have been accepted by ICAI. Better to follow suggested answer.

GOKUL KOLATE

CA Inter

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1

46

depreciation and amortization

answered on 18-Jul-24 00:56

sir depreciation and amortization please explain Scrapped value assets disposal Provisions for depreciation accounts is maintained and not maintained Machinery disposal

latest answer

For tangible asset depn applied, for intangible asset amortization Both are same but names are different

Swathi Swathi

CA Foundation

★ 0

2

176

Illustration 2

answered on 15-Jul-24 14:21

Sir, could you please clarify regarding the amount of 12500 in cash and cash equivalents in the balance sheet and also sir what is the meaning of that sentence

latest answer

The circled para refers to Authorised Capital. Can you share where you got that 12500?

Sridevi Kolluru

CA Inter

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1

44

TDS TCS Advance tax

answered on 12-Jul-24 15:09

Where to learn complete entries and treatments of TDS, TCS, advance tax from journal entries to financial statements?

latest answer

I think it's basic ,while deducting TDS when making payment to vendor ,vendor A/c dr ,to TDS payable ac to bank a/c

Shubham .shubham

CA Inter

★ 885

1

132

Amalgamation

answered on 12-Jul-24 09:14

In case of amalgamation in the nature of merger if paid up capital is greater than pc we have to credit p/l ac instead of capital reserve?

latest answer

No.

Pradeep Jeeva

CA Inter

★ 90

1

112

depreciation and amortization

answered on 15-Jul-24 14:18

Sir please send accounts depreciation and amortization modules back Practical questions videos

latest answer

Will record a video on this and share it here.

Swathi Swathi

CA Foundation

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12

167