Investment accounts

answered on 07-Mar-20 17:01

Sir, when convertiable debentures are converted into equity shares, why we credit investment in equity sharesa/c . In invenstment in bonds ledger a/c

latest answer

No we don't credit , the journal entry is Investment in equity shares A/c debit To bond/debentures AC

Star Ca

CA Inter

★ 3K+

1

416

Doubt

answered on 07-Mar-20 12:10

What is 7 8 and 9 points and how can I solve that 3 points can any one explain so that it would be helpful Thanks in advance

latest answer

7) interest received includes 1000 rs which is actually cash received from debtors , so you need to credit debtors account and deduct 1000 from interest received . 8) you need to create a liability for interest outstanding i.e 100000 Ã? 12 % As well as create a asset as interest receivable in balance sheet . 9) you need to prepare a debtors account and create 5% provision. this provision amount will be debited in profit and loss account and in balance sheet you will deduct this provisions from gross debtors

sai t

CA Foundation

★ 2K+

1

519

Live

answered on 06-Mar-20 20:33

Live streaming for accounting standards .. what about starting time and ending time sir

latest answer

4 pm to 5 : 30 pm march 7

Shanmukha Chippada

CA Inter

★ 470

1

438

Notes

answered on 03-Mar-20 17:31

Can any one send me the notes of principle and practice of accounting(full notes) so that It would be help me to prepare for upcoming exams Thanks in advance

latest answer

Pls download from notes section. It is available for free.

sai t

CA Foundation

★ 2K+

1

520

Bills of exchange

answered on 03-Mar-20 03:04

Is bills of exchange possible in real life?

latest answer

Hope it helps!!!

Logesh Sampathkumar

CA Inter

★ 0

4

529

Accounting standards

answered on 02-Mar-20 14:35

As 1

latest answer

Whats your query?

ajith kumar

CA Inter

★ 670

1

510

Confused

answered on 03-Mar-20 17:33

Hi friends I am just confused about insurance premium and where should I enter insurance premium in trading a/c or p&l a/c because in 2nd screen shot custom and insurance was entered in expense side of trading a/c Can u any suggest me so that it would be helpful Because I am basically from b-tech background so I am not aware aware of the concept

latest answer

Sometimes along with carriage inwards, transit insurance is paid on goods brought into the factory. So such insurance charges are charged to trading account.

sai t

CA Foundation

★ 2K+

8

514

Rectification

answered on 29-Feb-20 06:19

Investment were sold for Rs 75000 at a profit of Rs 15000 and passed through sales account

latest answer

Since 75,000 was credited to sales, entire amount must be reversed.

DIVYA S

CA Final

★ 52K+

4

667

Ca. Foundation

answered on 26-Feb-20 21:01

How should I practice CA foundation accountancy further, as I have solved all the chapters once for, upcoming may exam

latest answer

Please solve prevous year paper and RTPs of past attempt

Sugar Genius

CA Foundation

★ 2K+

1

474

Managerial Remuneration

answered on 29-Feb-20 06:20

How is the Managerial Remuneration existing in profit and loss without computation?

latest answer

To check if it is within limits. Company might have provided extra or less.

Raviteja Kusumanchi

CA Final

★ 24K+

4

452