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Illustration 4, Ch-8, ICAI new study mat
Accountancy
answered on 22-Feb-21 11:47
In the solution, why bank balance of 7,50,000 has been taken as opening balance? Shouldn't it be used while calculating the closing bal i.e. 7,50,000 - 11,250 = 7,38,750. Q. says 7.5L including interest. So only interest should be subtracted. Is ICAI wrong in subtracting interest and investment amount also and adding Deb holder payment to it? For better clarity I have attached the Q + Soln.
latest answer
It is an investment a/c interest is received not paid
Ishika Goel 282
CA Final
★ 3K+
1
538
Term loan
Accountancy
answered on 21-Feb-21 13:14
The attached image is Notes to Accounts of Illustration 8 of Unit 1 of chapter 4 of paper 1 Here, how the LOAN FROM STATE FINANCIAL CORPORATION is identified as Term loan...?? Will u please clarify this doubt.? It is not mentioned in question about term loan...
latest answer
Thank you sir
James Js
CA Inter
★ 1K+
10
538
Illustrations
Accountancy
answered on 20-Feb-21 11:11
In the notes (pdf) of accounting (ca inter) you have provided illustrations(questions) Did you cover answers for all those illustrations in your videos? If not where can I find answers for those questions.
latest answer
Thanks..
Sai Teja
CA Final
★ 14K+
2
512
Bonus Issue : Authorised Cap
Accountancy
answered on 21-Feb-21 11:41
Authorised Capital. = â?¹ 10,00,000 Issued & subs Capital = â?¹ 9,00,000 Now, issued Bonus Share 1:4 i.e. 25% (i.e. â?¹ 2,25,000) Authorised capital will have to be increased by how much? a) 10,00,000 + (25% of 10,00,000) b) 10,00,000 + (25% of 9,00,000) c) or something else..?? Please clarify.
latest answer
The logic given in material is not correct
Ishika Goel 282
CA Final
★ 3K+
3
618
Suspense account
Accountancy
answered on 18-Feb-21 12:44
Sir, why don't we use suspense account there ? For 4,5,7,8,9
latest answer
Ok bro. Thanks
Meda Jeevansai
CA Final
★ 21K+
2
516
BRS
Accountancy
answered on 18-Feb-21 07:24
A debit of Rs.11,00,000 appeared in the back statement for an "unpaid cheque" which, had been returned marked "out of date". The cheque had been re-dated by the customer and paid into bank again on 5th July 2019 Could you explain the statement sir?
latest answer
When a customer given a cheque of RS 11lakhs,you had debited bank a/c in your books,but the cheque is outdated(3months time period had lapsed).hence in bank statement there is no corresponding credit.Later the customer given you other cheque.
Harshavardini K B
CA Inter
★ 6K+
2
2K+
Partnership accounts
Accountancy
answered on 17-Feb-21 21:22
Why we cannot record cash and bank balance in new or revised balance sheet
latest answer
it means -50% of amount due to L paid off in cash -balance50% due to L is treated as the capital of N (New Partner )
siva chaitanya
CA Final
★ 13K+
1
573
Statement of Profit and Loss
Accountancy
answered on 17-Feb-21 16:37
What is the difference between CHANGES IN INVENTORY OF FINISHED GOODS and CHANGES IN INVENTORY OF Stock in trade??? Do we need to separately disclose changes in inventory for each of these??
latest answer
Thank You so much sir
James Js
CA Inter
★ 1K+
6
529
Going concern
Accountancy
answered on 18-Feb-21 11:15
Management's assessment of entity ability to continue as a going concern involves making a judgement about inherently uncertain future outcomes of events or conditions .what are the relevant factors of that judgement ? what is the answer of this question?
latest answer
For this answer you can see audit pronouncement book,SA 570 ,paragraph 5. There are 3 points in it.
Laxman kumar
CA Final
★ 4K+
1
459
When writing an answer for AS-4
Accountancy
answered on 17-Feb-21 11:11
Should the title be started with the word "Contingencies", or just Events Occurring after BS Date, since Contingencies have been moved to AS-29?
latest answer
Title should be as per the standard.
Kishore Anil
CFA L1
★ 2K+
1
419