Forums
Partnership
Accountancy
answered on 01-Jul-21 11:43
How come 3/15 and 18/90....
latest answer
1/5 x 3/3 = 3/15
Triveni Patil
CA Inter
★ 290
5
413
Trial balance
Accountancy
answered on 01-Jul-21 10:36
In this illustration(pic attached) we are asked to correctly prepare trail balance as on 31st march 2020, so when we are answering shouldn't we take the inventory value as on 31.03.2020(refer the lines below the question) instead of inventory on 1.4.2019(which is in table). However in solution they took inventory value as on 1.4.19 which is actually previous year's detail. Kindly explain. Thankyou.
latest answer
Sir, the given inventory is opening inventory the goods which are not sold last year it's essential to show the previous years stock in our accounts and the second thing you were talking about is closing inventory, yes we take it in the books of accounts but in this case it will be in adjustment part (hope you know final accounts) as to make a dual effect it is a part of adjustment
Aswin Chandar
CA Final
★ 40K+
1
404
As10 PPE
Accountancy
answered on 02-Jul-21 20:57
Can any one explain what is commercial substance and how to treat PPE when acquired by exchange of assets.
latest answer
Tq bro ð???
Sairam Reddy
CA Final
★ 10K+
16
714
Amalgamation
Accountancy
answered on 01-Jul-21 11:09
Why Deb be transferred to realisation ac?
latest answer
Transferor company winds up the business and dispose off all its assets and pays its liabilities. The surplus if any is distributed among share holders. So, Debentures must be taken in realisation account.
K Ca
CA Final
★ 22K+
1
390
Partnership accounts
Accountancy
answered on 01-Jul-21 00:35
How they taken 3/15 and how come 18/90....ipcc PM Show me the calculation
latest answer
4 partners cho 2 partners sacrificer ne 1 partner gainer aa Rest last one partner da share 21+6-9=18
Triveni Patil
CA Inter
★ 290
3
489
Long term borrowing
Accountancy
answered on 30-Jun-21 17:50
What is the meaning of LONG TERM MATURITIES OF FINANCE LEASE OBLIGATIONS.?
latest answer
non current ( >1 year) payments of finance lease as per AS 19
bsai partish
CA Final
★ 2K+
1
402
Journal and ledger
Accountancy
answered on 30-Jun-21 17:25
In the preparation of journal and ledger in ICAI study material when it is given only as received from x or paid for erection of machinery etc,. in some cases it is considered as cash account involved and in some cases it is given as bank account so how to find where to use cash account and where to use bank account. kindly explain. Thankyou.
latest answer
In case 2; Erection of machinery . While buying a machine we are paying bulk amount.ao we are using bank transaction for that purpose. at the time of purchase of machinery only erection charges happens.so we are adding installation charges. So the bank transaction appears here.
Aswin Chandar
CA Final
★ 40K+
3
469
Journal and ledger
Accountancy
answered on 30-Jun-21 16:46
In my school days when recording discount received and discount allowed we used have 2 different accounts for recording them, however in ICAI study material a single discount account is maintained for both discount allowed and discount received entries. Should i follow the ICAI material and use discount account instead of discount allowed and discount received account. Kindly clarify. Thankyou.
latest answer
Follow ICAI
Aswin Chandar
CA Final
★ 40K+
1
410
Redemption of preference shares
Accountancy
answered on 30-Jun-21 17:02
In this question why does the cash and bank acc includes 7500?..while the int on deb to transferred to p &l acc..
latest answer
Thank you!
Pushkala S
CA Final
★ 3K+
5
553
Partnership accounts
Accountancy
answered on 30-Jun-21 12:30
How come that 2000
latest answer
ð??? tqq
Triveni Patil
CA Inter
★ 290
3
410