Forums
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
★ 10K+
3
638
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
★ 9K+
1
560
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
★ 11K+
6
605
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
★ 10K+
1
700
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
613
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
★ 10K+
6
691
Preparation and presentation of Financial statements
Accountancy
answered on 04-Jul-21 21:51
Sir, In Balancesheet they have given 12% debentures and bank balance is given. 1)What we have to assume sir Whether interest paid and bank balance already adjusted or 2) Interest is payable 3) interest is to be paid and reduce from bank balance
latest answer
Because paid up share capital doesn't include that amount. Had it been added, we would deduct then
M Naresh
CA Final
★ 3K+
3
625
Amalgamation
Accountancy
answered on 04-Jul-21 22:10
Sir in amalgamation closing the books of selling company can we open investment in purchasing company and then transfer it to equity/preference share holders account?
latest answer
No
shankar narayanan
CA Inter
★ 360
1
525
Preparation and presentation of financial Statements.
Accountancy
answered on 04-Jul-21 12:12
For calculation of Effective capital for schedule V purpose. Does paid up share capital includes preference share capital ?
latest answer
Yes
M Naresh
CA Final
★ 3K+
1
556
Stock reserve
Accountancy
answered on 04-Jul-21 21:41
Can we adjust stock reserve in trading account itself if there is no indirect Expenses or Only in profit and loss A/c ?
latest answer
It's convention to adjust at the end in Profit & loss A/c
M Naresh
CA Final
★ 3K+
1
650