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Incomplete records
Accountancy
answered on 05-Jul-21 19:38
Sir in this question how they apportioned cash and bank balances?
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Haa ok sir thank u so much
Likhitha Sivani
CA Final
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708
Cash flow
Accountancy
answered on 06-Jul-21 10:08
What is treatment for discount on issue of debentures written off in cash flow under indirect method
latest answer
In this case there is no issue of debentures in current year. It is discount written related to issue of debentures in past years, so nothing will be shown in FInancing activities. What I meant was in case there is issue of debentures on discount. Inflow will be taken as net of issue of debentures in th year of issue
Sairam Reddy
CA Final
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Preliminary expenses
Accountancy
answered on 05-Jul-21 13:56
Under which head preliminary expenses are shown in balance sheet
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THANK you
Sairam Reddy
CA Final
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Matching concept
Accountancy
answered on 05-Jul-21 11:58
If opening stock is 6000 Units @Rs.40 per unit. Purchase 24000 units @ Rs.50 per unit. Sales 20000 units @ Rs.60 per Unit. Closing stick is 10000 units. Given that , Opening stock units is included in closing stock is 2000 units. Find Closing stock & profit.
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Yes. I too have derived this answer. Thank you for the response. No issuesð???ð?¤?
Priya Anandan
CA Inter
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579
Matching concept
Accountancy
answered on 05-Jul-21 14:20
If opening stock is 3000 Units@Rs.20 per units. Purchase 25000 units @ Rs.30 per unit. Sales 26000 units @ Rs.40 per Unit. Entire Opening sold during the year. Find Closing stock & profit.(Entire opening stock sold during the year)
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Tq for ur response
Yaswini Nithyanantham
CA Inter
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Journal
Accountancy
answered on 05-Jul-21 11:26
In the 2nd question 4th subdivision, why the 10% trade discount is not shown in the journal entry while Rs.5,000 cash discount for quick payment is shown.
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Trade discounts are not recorded in accounting books here only they consider Cash discounts and trade discounts are always inclusive in invoice price..
Vijay K
CA Inter
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Foreign branches
Accountancy
answered on 05-Jul-21 15:55
Here they already included outstanding salaries in salaries above but y they again seperately given outstanding compulsory
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Ok sir thank u so much
Likhitha Sivani
CA Final
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596
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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525
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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587
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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