Top down test illustration 2

answered on 18-Jun-24 10:49

Why not carry the amount of smaller unit of CGU in the revised carrying amount?

latest answer

Can you elaborate your query?

Shivashankar Jawai

CA Inter

★ 2K+

9

116

What are the most important chapters for accountancy-CA foundation

answered on 27-May-24 16:24

What are the most important chapters for accountancy-CA foundation

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Company Accounts Partnership Accounts Final Accounts Non Profit Organisations Single Entry

Dova Shaji

CA Inter

★ 520

1

202

Death of partner

answered on 27-May-24 16:26

The answer is different in text and there is no goodwill in balance sheet

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OUr printed material has Goodwill 30,000/- and you can refer to that for the solution. This is a higher level adjustment. If goodwill is not given in balance sheet, remaining part of the problem remains the same.

Bharavi Kothari

CA Foundation

★ 20K+

2

86

Amalgamation

answered on 20-May-24 13:57

How the goodwill of the vendor company should be incorporated in the books of the purchasing company in both the cases in the assets and liabilities taken over journal entry

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You will calculate goodwill separately and incorporate. If you have any specific question, pls share.

Samuel Sundar

CA Inter

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1

201

REDEMPTION OF DEBENTURES

answered on 20-May-24 13:57

WHEN ISSUING DEBENTURES AT PAR AND REDEEMING AT PREMIUM THE ENTRY WILL BE DEBENTURE APPLICATION A/C DR 1000 LOSS ON DEBENTURE AC DR 100 TO DEBENTURE A/C 1000 TO PROVISION FOR 100 PREMIUM ON REDEMPTION OF DEBENTURE A/C FROM WHERE DID THE ADDITIONAL AMOUT OF 100 CAME BECUASE AT ISSUE WE ARE ASKING FOR 1000 ONLY????

latest answer

We asked 1000 But we have to pay back 1100 So extra 100.

Prathmesh Kharul

US CMA All

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2

314

Financial statements

answered on 20-May-24 13:59

Suppose a company has different business like sugar manufacturing, aircrafts, soaps. Now, how can company prepare financial statements whether separate financial statements for each business or one financial statement for all businesses.

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https://www.itcportal.com/investor/pdf/ITC-Financial-Result-Q3-FY2024-sfs.pdf Business specific disclosures are given as per segment reporting requirement. Sample Q3 financial for ITC is attached.

sitaram kollepara

CA Inter

★ 2K+

2

54

Consolidated profit and loss account

answered on 19-May-24 19:08

In solution of these question, why is "production expenses" shown under "cost of raw materials consumed"?

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Thank you

Safa Saleem

CA Inter

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2

235

same video repeating

answered on 20-May-24 14:33

same video repeating in Framework for choosing Accounting Policies and Funtamental accounting suuptions

latest answer

Both are different videos. Please listen to the full video.

Sandesh

CA Inter

★ 0

1

212

Accounts from incomplete records illustration 9 and illustration 10

answered on 20-May-24 14:29

Sir,please explain these sums,

latest answer

Illustration 9 & 10 from study material are already solved in the class.

Pradeesha Dharmaraj

CA Foundation

★ 1K+

1

139

ACCOUNTING STANDARDS INTRODUCTION

answered on 20-May-24 14:54

In the 4th benefit of AS There is something known as Capitalising revenue expenditure by that the company can verstate profits and assets. Could you please explain me the meaning of Capitalisation of revenue expenditure And example for writing off a capital expenditure against revenue

latest answer

Imagine a company spends 100,000 on maintenance of machinery.Normally, this maintenance would be considered a revenue expenditure and fully expensed in the current period, reducing profits by 100,000. However, if the company capitalizes this maintenance cost, it records the 100,000 as an asset on the balance sheet and then depreciates it over the expected life of the machinery (say 5 years). This means each year, only 20,000 (100,000/5 years) will be expensed, thus increasing current year profits compared to if the entire amount was expensed immediately.

OVIYA SELVAM

CA Inter

★ 650

1

57