Forums
Consignment
Accountancy
answered on 02-Aug-21 07:17
6th mcq explain.
latest answer
ok
Sibi Srinivasan
CA Final
★ 22K+
2
653
CFO/CEO/CA
Accountancy
answered on 01-Aug-21 15:12
What are the difference between CFO/CEO/CA What is role in the company?
latest answer
Differnet names in english
Rishi Kumar
CA Inter
★ 6K+
3
857
AS 26
Accountancy
answered on 02-Aug-21 11:36
Can we solve this question by the way I've done it? Which one is correct please guide
latest answer
Yes you can
Priyanka Udeshi
CFA L1
★ 14K+
3
749
Buy back - illust 1
Accountancy
answered on 30-Jul-21 07:11
Why there is crr entry passed for rs.600000 when there is sufficient amount through fresh issue ?
latest answer
Thank you sir !
Akshaya Vk
CA Final
★ 1K+
2
701
Promissory notes
Accountancy
answered on 29-Jul-21 18:42
Vijay bought goods from Yuvaraj on 2 months credit for Rs. 5,00,000. Vijay gives a promissory note to Yuvaraj. But on the due date Vijay can't make payment. What will happen then?
latest answer
Hi
Vijay K
CA Inter
★ 9K+
4
655
Bills of exchange
Accountancy
answered on 30-Jul-21 15:03
1) the acceptor didn't pay the money before the grace date. For example the due date is 28/07/2021 and the end of grace date is 31/07/2022. When should we get him to the notary ? 2) who is notary? Where does he works? Private or government ? 3) in the bills for collection, will the bank charges some amount like purchase using credit/debit card ?
latest answer
Thank you for the response, mam.
Vijay K
CA Inter
★ 9K+
5
672
Amalgamation
Accountancy
answered on 28-Jul-21 11:48
In ICAI Practical Question 4 they haven't given cost of issues of debentures But in solution they took furniture at 4004 instead of 4054 Even in reserves 50 is adjusted through P/L ac Please explain this part
latest answer
Error at ICAI's end. Original from old material (May 19 SM) - they slightly modified question, but copied same answer.
Priyanka Udeshi
CFA L1
★ 14K+
3
725
Amalgamation
Accountancy
answered on 28-Jul-21 07:43
In prac Q1 why is Reserves and P/L account credited? In question nothing is mentioned about amalgamation in nature of merger
latest answer
All the conditions of amalgamation in the nature of merger is being satisfied in the Q
Priyanka Udeshi
CFA L1
★ 14K+
1
639
AS 29 - 14(b)
Accountancy
answered on 28-Jul-21 14:50
What is mean by "An outflow of resources embodying economic benefits"?... Could not understand this properly.
latest answer
For a liability to qualify for recognition there must be not only a present obligation but also the probability of an outflow of resources embodying economic benefits to settle that obligation. This means that the settlement of a liability should result in an outflow of resources that embody economic benefits i.e. the involvement of cash or cash equivalents used for payment . It could also involve the transfer of other assets. A liability is measured by the value of these resources that will be paid or transferred. Cash / asset transferred are resources embodying economic benefits
Harish R
CA Inter
★ 2K+
2
589
Cash flow statements
Accountancy
answered on 27-Jul-21 20:03
Y they r transferring to general reserve ???
latest answer
It's actualy revenue reserve, not general reserve. And they are adding the increase in balance of revenue reserve to balance of difference in P&L balance assuming that amount was transferred from profit of the year. In this question, we are not given net profit as per Statement of P&L. So, starting point is taking the difference in P&L A/c as appears in Notes to Accounts.
anusha athikamsetty
CA Inter
★ 65
1
771