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Subsidiary Books
Accountancy
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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4
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Bonus issue
Accountancy
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
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Profits prior to incorporation
Accountancy
answered on 25-Sep-21 16:15
In this illustration....... Why advertisement expense is apportioned on the basis time?
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Thank you sir
Girinath A
CA Inter
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4
653
Linkage between chapters
Accountancy
answered on 25-Sep-21 16:04
Guys as I have started with AS 3 cash flow statement . But as you all know there are many concept of redemption of preference share and debentures . So my question is should I start with redemption of preference share and debentures so that I can get better grip on the questions of cashflow statement OR I should finish all Accounting standard first and then go on towards above chapters?
latest answer
Pls finish all AS given in videos and move to Accounting (Without AS) module.
Kalash Ojha
CA Inter
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5
620
Sharing ratio
Accountancy
answered on 25-Sep-21 22:08
If we multiply with 5/5 we get 1/25 I am getting the ratio as 7:5:3 1/5 Ã?3/3 = 3/15
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Thank you sir!
Doonika Chunduri
CA Inter
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Departmental accounts
Accountancy
answered on 24-Sep-21 22:22
How to know per unit cost of opening stock and closing stock (board book illustration 2)
latest answer
We can find purchase price per unit as we are given Total purchase value and number of units + fact profit ratio is same. Check working note 1
OMKAR REDDY
CA Inter
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1
526
As 21
Accountancy
answered on 24-Sep-21 21:23
As 21 requires uniform accounting POLICIES, but 3rd point relate to accounting ESTIMATE. Why is it adjusted? Provision is an estimate
latest answer
You have a valid point here. However, An entity may have a specific policy to measure the estimate.
Aman Mahajan
CA Final
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AS 5
Accountancy
answered on 25-Sep-21 11:01
Extraordinary items What is the meaning of ' attachment of property of the enterprise' ? It is given in the examples
latest answer
When some government agency (Eg: CBI) raids a person or entity or if a bank files a case against a person for nonpayment of dues - if they have to recover money from that person or entity - they get a court order and attach properties - the properties so attached cannot be used by the said person or entity or disposed of or sold off till the dues of the government or bank are paid off
kowselyaa G
CA Final
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how to solve this problem
Accountancy
answered on 24-Sep-21 15:32
sir what is the solutions this problem , i think this type of problem is not covered in the module sir will there be video solutions in the forum because during the periode of purchasing the course , i contacted sales team i was promised that there will be video solutions in the forum
latest answer
This is from Framework for the preparation and presentation of financial statements. We will resolve your queries at the forum appropriately. Video solutions would be recorded only if there is an absolute necessity.
nisam M
CA Final
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3
665
Buy back of shares
Accountancy
answered on 24-Sep-21 09:54
Video no 5 in lectures Sir said for source of buy back shares One of the option is using existing free resource. While using existing free resources creditors get upset because of equity shareholders capital (wall behind creditors )gets reduce. So sir said we make sure to SH gets upset and creditors gets happy by way of creating CRR which can only be used for the purpose of bonus issues and it prevent the free resources to pay in the form of dividend Now my questions is,by making CRR how the creditors gets back his support back (happiness) again which is only used for bonus issue. In short how making free resouces as capital redemption reserve gives support to creditors? Pls explain this iam geting confused about CRR
latest answer
A buy-back is a scheme by which a company repurchases a certain number of its outstanding shares usually at a price higher than the prevailing market price/ fair value of the shares. There are two sources for buy back - (1) fresh issue of shares or (ii) from existing resources (proceeds other than fresh issue) i.e free reserves The company, under section 69 of the Companies Act, is also obligated to create CRR to the extent of face value of shares bought back by utilising existing reserves (free reserves like Gen Reserve, P&L balance and securities premium) When you create CRR out of the free reserves, so much of the money will not be available for shareholders for declaration of dividend or further buy back, so by creating CRR company is restricted by utilising the existing resources from further depletion, so they will be available for company in case of any requirements of outsiders during insolvency or winding up
Balaji R
CA Final
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