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Profit prior to incorporation
Accountancy
answered on 25-Jan-21 18:32
In this chapter, we usually come across cases when a company takes over a firm or a sole proprietorship. What about a company taking over another company? Can there be profit prior to incorporation in this case?
latest answer
That is a case of Merger/Amalgamation. You will learn this in advanced accounting.
Aman Mahajan
CA Final
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1
496
Doubt
Accountancy
answered on 25-Jan-21 20:20
I have a doubt in below screenshots in partners capital account on debit side from where 25,000 is getting from??
latest answer
Sir is it possible to take 4,40,000 directly
sai t
CA Foundation
★ 2K+
7
509
Propritorship
Accountancy
answered on 28-Jan-21 09:47
Preparing financials of proprietorship , last year its a partneship firm by constitution , how adjust the capital account & current account closing balances shown in last year balancesheet ?
latest answer
There will be some arrangement/agreement between the partners as to how it will be dissolved and converted.
Balamurali Unnithan M S
CA Inter
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543
Allocation of pre and post incorporation expense
Accountancy
answered on 23-Jan-21 18:47
Sir told that any expense for which the base of allocation is not certain must be allocated in time ration. Whatâ??s an example of such an expense whose allocation is not certain?
latest answer
Staff welfare expenses. The expenses may not be fixed per month.
Aman Mahajan
CA Final
★ 19K+
1
516
Fire insurance
Accountancy
answered on 26-Jan-21 15:51
How less expenses is less premium for insurance?? Pls explain
latest answer
Since insurance for loss of profit also covers standing charges, lower expenses declared means lower permium
Reetikaa R
CA Final
★ 7K+
7
521
Doubt
Accountancy
answered on 23-Jan-21 10:29
Can any one tell me how good will is calculated and how it was shared to partners for the given problem
latest answer
Goodwill appearing in balance sheet is written off as it should not appear in the books of new firm Goodwill in adjustments is passed through partner's capital account (1,00,000x1/5 = 20,000)
sai t
CA Foundation
★ 2K+
1
539
Exact question came in accounts paper today
Accountancy
answered on 21-Jan-21 19:39
In today's account paper, companies a/c question came exactly with some numerical changes, what our satya raghu sir taught us in illustrations.
latest answer
It was an emoji... But forgot that app doesn't support emojis...
Meda Jeevansai
CA Final
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3
571
Indigolearn is the BOON to Budding CA's!
Accountancy
answered on 21-Jan-21 21:28
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latest answer
Thank you for your blessings sir!
Meda Jeevansai
CA Final
★ 21K+
6
504
CFS
Accountancy
answered on 21-Jan-21 13:44
What are level 1 2 and 3 companies
latest answer
Enterprises are classified in different levels and labelled as level I, level II, level III companies. On the basis of this classification, accounting standards are applicable to the companies
Priyanka Udeshi
CFA L1
★ 14K+
2
578
Financial Statements of Companies
Accountancy
answered on 21-Jan-21 09:32
where to disclose "Preliminary Expense" if given in 1) Trail balance 2) P&L account ?
latest answer
Preliminary expenses are not shown in balance sheet. They are written off.
Sai Krishna
CA Final
★ 9K+
2
554