Forums
Departmental accounts
Accountancy
answered on 17-May-21 19:05
In this question, stock of worth Rs.6,900/- has been transferred from Khadi to silk department. Why the selling price of Khadi department has not been considered as cost for Silk department?
latest answer
Thank you sir
Nivedha Balaji
CA Final
★ 9K+
8
832
Partnership Deed.
Accountancy
answered on 16-May-21 12:57
If Partnership deed is optional as per Partnership Act 1932. But if a new partner is admitted, how to mention the conditions without a proper deed?
latest answer
Ok
Balamurali Unnithan M S
CA Inter
★ 3K+
8
626
Premium on redemption?
Accountancy
answered on 14-May-21 12:48
Please Explain me how (premium on redemption=16) came.Kindly,Check below for attached file.
latest answer
Yes, solution w.r.t. premium on redemption is not correct given the information in question
Naren
CA Inter
★ 90K+
3
719
Face value
Accountancy
answered on 13-May-21 12:20
Why all share will have face value 10 and how face value is calculated .
latest answer
Face value of a share, also known as the par value, is the value at which a share is listed on the stock market. The face value of share can be taken up from Rs.1 but Majorly, the shares of Indian companies have a face value of Rs.10. There are no fixed criteria for deciding on the face value of a stock. It is fixed by the company, once it decides to issue its shares and bonds.
Shreesha .T.u
CA Foundation
★ 2K+
2
666
Account current
Accountancy
answered on 15-May-21 13:51
Sir please explain this
latest answer
Yes
Poojitha Jana
CA Foundation
★ 280
21
747
Debenture redemption reserve creation
Accountancy
answered on 12-May-21 12:56
What is the rate of DRR to be created(10% or 25%).
latest answer
25% is for CMA students. For CA students, ICAI incorporated the relevant amendment and it is NIL for some companies and 10% for others.
Naren
CA Inter
★ 90K+
4
656
Bonus and right issue
Accountancy
answered on 11-May-21 12:29
Can we right issue to preference share holders?? Can we issue bonus shares to preference share holders??
latest answer
Good response above. To add here in terns of Companies Act: 1. Sec 63 does not restrict issuing bonus shares to Preference shareholders. So it's possible. 2. Sec 62 allows right shares to be issued only to holders of equity shares. However, there is no restriction on company to issue preference shares as right shares to equity shareholders.
Kanaga Mani
CA Inter
★ 3K+
2
767
Preference shares
Accountancy
answered on 10-May-21 19:43
In illustration 6 In this question given redeem preference shares by UTILISATION OF RESERVE available free reserves as per qn=110000 We are redeeming @100000 rs then remaining reserves =10000 Then how can we create crr from free reserve???
latest answer
No worries, I could have shared it before. But wanted that you understand it through concepts and entries. Happy studying!
Kanaga Mani
CA Inter
★ 3K+
13
802
Preference share
Accountancy
answered on 10-May-21 19:12
In book back illustration 2 Adjustment no.3 for redemption of debentures we issuing equity share For that adjustment face value of equity shares =2 then ,we are dividing by 10 in working note 2
latest answer
That's a different provision - that is premium on redemption. Here it's issue of shares - Deb. holders are asked either they take cash, or take share at issue price 10. So, we are not paying them premium, infact issuing shares at premium.
Kanaga Mani
CA Inter
★ 3K+
3
709
Accounting standards
Accountancy
answered on 10-May-21 11:41
Wt is meant by carve out and carve it ??
latest answer
There are certain changes in Ind AS in connection with economic environment of the country and the economic environment presumed by the existence of IFRS. These are mainly due to differences in economic conditions prevailing in India. When these differences are in deviation to the accounting policies and practices stated in IFRS its said to be 'Carve-outs'. Additional guidance given in Ind AS over and above given in IFRS is known as 'Carve-in'
anusha athikamsetty
CA Inter
★ 65
1
681