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Consolidatn illustratn 5
Accountancy
answered on 08-Jul-21 10:22
Is the answer given in textbook of Illustration 5 of consolidated financial statements wrong? Because they have taken 500000*40% as dividend declared instead of 300000*40%. Pls check the answer I have attatched. Is this the right way to do or the solution in textbook itself is correct?
latest answer
ICAI solution is correct. Total shares in S Ltd is 5000 shares of Rs. 100 each. In those 5000 shares, H ltd holds 3000 shares. Here, S ltd declared dividend. So, total dividend is 500000 x 40% = Rs. 2,00,000. Share of H Ltd Dividend is Rs. 1,20,000
Ali S
CA Final
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452
Dividend
Accountancy
answered on 05-Jul-21 09:01
Dividend is declared only on the profit earned DURING the year, right? Or will it be declared on opening balance of P&L as well?
latest answer
Dividend can distribute out of the current year profits or previous years profits or free reserves or money provided by cg/ sg but dividend can never be paid out of capital profits of the company
Ali S
CA Final
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2
509
Redemption of debentures
Accountancy
answered on 05-Jul-21 11:19
In case of profit or loss on sale of DRRI investment That should be transferred to DRR or p&l account
latest answer
Thank you so much sir
Sairam Reddy
CA Final
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448
Redemption of debentures
Accountancy
answered on 04-Jul-21 21:48
In the table model.for calculating interest , Fv, Ex-int and cum interest . Can I do like this in this problem..
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Thank you Sir
Naresh M
CA Final
★ 75
4
495
Cash flow
Accountancy
answered on 04-Jul-21 23:04
Can any one explain the treatment of extraordinary items in cash flow (indirect method) 1) earthquake disaster settlement 2) Insurance claim received of amount of fixed Assets by fire
latest answer
Final number would not change.
Sairam Reddy
CA Final
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3
494
Redemption of debentures
Accountancy
answered on 04-Jul-21 20:54
If question is silent about interest payable, whether we can pass an entry for interest payment upto the date of redemption? (Because in institute study material, they didn't pass entry for this)
latest answer
Yes we have to pass entry for interest upto the date of redemption Can you share that question once
Nivedha Balaji
CA Final
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420
Pre and post incorporation
Accountancy
answered on 04-Jul-21 20:04
Is Interest on loan taken in post incorporation period to pay the purchase consideration chargeable to pre incorporation period?
latest answer
Thank you sirr
Nagesh S Hegde
CA Inter
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6
445
Hire purchase
Accountancy
answered on 04-Jul-21 22:15
Can any one explain the reason behind hire vendor preparing interest suspense account
latest answer
It's just a method of accounting that would be at discretion of vendor depending on its business, items or volume. Vendor may want to know upfront how much it will get from particular vendor and may want to debit him with that amount at the time of sale / hire purchase itself.
Sairam Reddy
CA Final
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1
569
Preparation and presentation of FS
Accountancy
answered on 04-Jul-21 16:55
Sir bills payable and bills receivable comes under the head ?? In B/S
latest answer
current assets and current liabilities
Naresh M
CA Final
★ 75
1
417
AS 11
Accountancy
answered on 04-Jul-21 17:00
What is exchange difference in forward exchange contract?how it is determined ?
latest answer
Ok sir tnq
Abhishek Purohit
CA Inter
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6
499