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Current assets
Accountancy
answered on 21-Dec-24 08:09
In current assets Sir was reduced 100 in 340 why not they reduced in 300 340 includes current liability, so we have to reduce it from 300 Is that correct, then balance sheet will not tally
latest answer
We will reduce from current assets. Liabilities will be shown separately in balance sheet.
Shivashankar Jawai
CA Inter
★ 2K+
1
692
Buy back of shares
Accountancy
answered on 24-Dec-24 17:09
Hari LTD wants to buy- back of 20 % of its equity shares @ ₹15 per share on 5.4.2023. The Company issued a 12 % preference share of 5 lakh ₹10 for each on the same date and also issued one fully paid up equity share ₹10 by way of the bonus share of every 2 equity shares held by the equity shareholders. Hari LtD provides the following details. On 31.3.2023 Equity share capital ( fully paid up shares of ₹10 each. = ₹500 crore. General Reserve = ₹50 crore Capital redemption reserve = ₹370 crore. You are required to compute the : 1.Total amount Of Capital redemption Reserve after bonus issue. 2.Share capital after buy-back. 3.Securities premium.
latest answer
Amount to be transferred to CRR = Total buy back value (500x20%) i.e 100 crores - 5 crores = 105 crores. Amount required for bonus issue = 400 crores. CCRR balance = 370+105-400
Rana Darshan
CA Final
★ 810
3
687
Amalgamation
Accountancy
answered on 10-Dec-24 14:21
Amalgamation If questions didn't specify about what assets and liabilities taken over.we should assume all of it will taken over R8? And in realisation account we will not settle creditors and debtors also? R8?
latest answer
👍🏻👍🏻
Nadeem Neymar
CA Inter
★ 250
2
615
Earning per share
Accountancy
answered on 10-Dec-24 14:25
On 1.4.2023 Rocky LTD had 4,00,000 equity shares Of ₹10 each ( ₹4 paid up by all shareholders) . On 1.7.2023. ₹3 was called up and paid by all shareholders. And on 1.1.2024 the remaining ₹3 was called up paid by all shareholders except Mrs. Shesha and Mrs. Shivangi ₹90,000 and ₹ 12,000 respectively. You are required to calculate weighted average numbers of shares.
latest answer
From 1st April 2023 to 30th June 2023 (3 months), the company had 4,00,000 equity shares of ₹10 each, with only ₹4 paid-up. The weighted shares for this period are adjusted based on the proportion of paid-up value, i.e., ₹4 out of ₹10, resulting in weighted shares of 1,60,000. Time-weighted for 3 months, this contributes 40,000 to the WANES. From 1st July 2023 to 31st December 2023 (6 months), an additional ₹3 was called up, making ₹7 paid-up on all 4,00,000 shares. The weighted shares for this period are calculated as 2,80,000, based on the paid-up value of ₹7 out of ₹10. Time-weighted for 6 months, this contributes 1,40,000 to the WANES. From 1st January 2024 to 31st March 2024 (3 months), the remaining ₹3 was called up, making ₹10 paid-up for most shareholders. However, Mrs. Shesha and Mrs. Shivangi did not pay the final call on 30,000 shares and 4,000 shares, respectively. As a result, 3,66,000 shares were fully paid (₹10 paid-up), and 34,000 shares remained partly paid (₹7 paid-up).
Rana Darshan
CA Final
★ 810
1
599
Adjustment 3 me bola hai sir necessary cash should paid bola hai to sir cash account open karna padega na
Accountancy
answered on 10-Dec-24 14:17
Adjustment 3 me bola hai sir necessary cash should paid bola hai to sir cash account open karna padega na
latest answer
You can open cash account or compute cash balance as a working note.
R G
CA Final
★ 9K+
2
650
Impairment loss
Accountancy
answered on 10-Dec-24 12:33
What is ans ...what is the conclusion
latest answer
Recoverable Amt will be Higher of A) Net selling Price - Rs. 80 Lakhs B) Value in Use - Rs. 70 Lakhs Hence Recoverable amt is 80 Lakhs. Carrying Amt is 50 Lakhs Since Carrying amy doesnt exceed Recoverable amt there will be no impairment.
Lucky Ten
CA Inter
★ 0
1
715
Rectification of errors
Accountancy
answered on 10-Dec-24 07:05
Goods worth Rs 1000 were sent on sale or return basis to customer and entered in the sales book. At the close of the year the customer still had the option to return the goods . The sale price was 25 Percentageabove cost
latest answer
Thank you sir
Bindhupriya S Bindhupriya S
CA Foundation
★ 2K+
2
296
18:03 to 18:10 u says profits of 12500 kaha se aaya sir
Accountancy
answered on 09-Dec-24 15:51
18:03 to 18:10 u says profit of 12500 kaha se aaya sir
latest answer
Consider it 10,000
R G
CA Final
★ 9K+
1
526
Sorry not 1500 it's 12500
Accountancy
asked on 08-Dec-24 15:09
Sorry not 1500 it's 12500 kaha se aaya sir
latest answer
No answers yet!!
R G
CA Final
★ 9K+
0
782
Preparation of Financial Statements
Accountancy
answered on 09-Dec-24 09:08
In one question “Loose Tools” is considered under PPE & In another sum under “ Inventory “ what’s the reason?
latest answer
Tools of substantial value & used for more than a year can be considered as asset and if it is a stock in trade then it will be shown in inventory
Soon to be CA
CA Inter
★ 4K+
1
515