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Is this an asset ?
Accountancy
answered on 26-Mar-21 14:15
What if I buy a bike and use it just for riding in streets for relaxation purpose ... Is this an asset since it has not generated any future economic benefits to me ?
latest answer
Great ... Thank you sir ð???
Deepak Raja
CA Final
★ 1K+
2
450
Provision for depreciation
Accountancy
answered on 26-Mar-21 12:21
If there is any balance in provision for depreciation account Do we deduct such depreciation along with current year depreciation from asset bal while preparing balance sheet
latest answer
Thank you very much sir.. Such a clear explanation..
Sai Teja
CA Final
★ 14K+
11
491
Accounting standards
Accountancy
answered on 25-Mar-21 13:19
Dear sir, Regarding Accounting, AS-10-Video 15," As Mining, Oil, Natural gas and similar assets are wasting assets and AS-10 is not applicable for this" is what sir taught, then Why are we saying that part AS-10 and part AS-2 apply for that Oil and Gas question.
latest answer
Thankyou sir.
Madhaan S
CA Final
★ 14K+
2
541
Consolidation of financial statements
Accountancy
answered on 25-Mar-21 12:22
In practice problem 4 . In video for dividend of 20000 is added to post acquisition of 52000 then 72000 came . And then sir deducted 20000 from pre aquisition profit after time adjustment and the value came to 146000 .. instead of that can we deduct 20000 from pre acquisition ie 30000 -20000 =10000 before time adjustment then post acquisition column would be 72000 (10000-82000) .. Can we do like this . Please reply I am fully confused ..
latest answer
Thank u mam now cleared my doubt
Enuguru Sai Nithin
CA Final
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6
494
Redemption of debentures
Accountancy
answered on 25-Mar-21 10:58
Whether % of DRR and DRR investment to be calculated on FV of debentures or amt to be paid to debenture holders?
latest answer
Face value of debentures !
Nivedha Balaji
CA Final
★ 9K+
1
475
Consignment
Accountancy
answered on 25-Mar-21 17:32
Can you explain how to compute unsold stock here?
latest answer
Understood sir
siva chaitanya
CA Final
★ 13K+
9
518
Buy back of securities
Accountancy
answered on 24-Mar-21 10:10
Sir in illustration 1, we haven't created CRR because we have bought back shares with the proceeds of fresh issue of shares But in ICAI material they have created CRR to the extent of shares bought back i.e, Rs.600000. which one to follow?
latest answer
Which video are you referring to?
Rithani R.C
CA Inter
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2
472
Insurance claims loss of profit polici
Accountancy
answered on 24-Mar-21 18:04
In illustration 10 of insurance claim chapter i didnt understood how did we arrive at uninsured standing charges is =130000
latest answer
I was referring to illustration disscussed in 1fin classes that i have purchased
R Yashwanth Kumar
CA Final
★ 87K+
3
483
Bonus shares
Accountancy
answered on 23-Mar-21 17:38
1. Whether Capital reserve can be utilized for issuing bonus shares? 2. If a company has convertible debentures then whether authorized capital to be increased to the extent of equity and bonus shares for debentures holders also?
latest answer
Thank you sir
Nivedha Balaji
CA Final
★ 9K+
4
487
Rectification of errors
Accountancy
answered on 23-Mar-21 18:13
In this illustration how difference in trial balance in suspense account came??
latest answer
Because it is the opening balance in suspense account.. And also the difference amount of trail balance is itself called as opening balance of suspense account .
siva chaitanya
CA Final
★ 13K+
4
623