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Advanced acc Consolidated financial statements
Accountancy
answered on 18-Nov-20 16:07
In icai material, price of share was not given, and answer automatically assumed it to be â?¹10. Is it fine? Or they found the value somehow?
latest answer
Assumed.
Susee Arunachalam
Qualified CA
★ 26K+
1
555
Redemption of preference shares
Accountancy
answered on 18-Nov-20 16:52
In this sum since 100 shareholders were unknown dey paid oly fr 17900 holders but premium is paid fr 18000 shareholders? Is it crct.. If its crct... How and why sir?
latest answer
Entire amount is first transferred to payable account. The shareholders who could be identified have been paid. Rest will be payable.
Shruthi V
CA Inter
★ 0
1
525
Company accounts
Accountancy
answered on 18-Nov-20 08:08
Why they are adding forfeiture share to share capital?1500(RAM-500 shares SHYAM-1000 shares)??
latest answer
Forfeited shares balance are shown under share capital.
Aravindh Kumar
CA Inter
★ 4K+
1
579
Doubt
Accountancy
answered on 18-Nov-20 08:14
Sir here closing inventory is not shown in trial balance why? When to show and not to show in trial balance
latest answer
If it is adjusted against purchases, then it is show in trial balance. Otherwise its given in adjustment.
Sri kanaga Varshini
CA Final
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1
465
Advance account - buy back
Accountancy
answered on 17-Nov-20 19:22
Illustration 3 - 4th Journal entry Amount transferred to CRR account, but am not get how it is calculated? Please let me know.
latest answer
Preference shares were issued two months prior for purpose of buyback.
Rachith Bhat
CA Inter
★ 10K+
1
569
Cash flow statements
Accountancy
answered on 17-Nov-20 19:38
How is tax paid-advance tax (195) calculated?
latest answer
Last year provision is 180 against which 180 is paid in last year. This year provision is 200 against which 195 is paid. If you prepare provision account and advance tax account, you will understand. This method is covered in class.
vinay ajith
CA Final
★ 10
2
467
Amalgamation, conversion, sale
Accountancy
answered on 17-Nov-20 16:42
In Practical question no.1 attached -said that debtors cannot reduce from provision for bad and doubtful debts because it's not a bad debt. But in question 2- from balance sheet debtors deducted provision for doubtful debts and done the sum. Please clarify
latest answer
Ok
seshu Kumar
CA Inter
★ 61K+
2
614
As 2
Accountancy
answered on 17-Nov-20 15:10
How production 10200 kg ? Raw material consumed is 10200 rite. Since production = opening finished goods +sales -closing finished goods , rite. = 1000+10000-1200kg = 9800 kg rite . Therefore shouldn't production be 9800 instead of 10200 kg Please reply
latest answer
OS + Production - CS = Sales.
Swathi Krishna
CA Final
★ 8K+
1
558
AS 2
Accountancy
answered on 19-Nov-20 11:40
In this question 5 of the notes , Shouldn't we multiple by the selling price by units sold ? But why is it multiple by the units produced ? (While allocating joint cost)
latest answer
Thank you sir
Swathi Krishna
CA Final
★ 8K+
6
523
AS-22
Accountancy
answered on 17-Nov-20 07:58
How will the second yr be deferred tax liability it's asset only know sir
latest answer
The amounts shown are cumulative figures - timing diff is + 4 lacs in year 1 and -2 lacs in year 2 = so cumulatively for year 2 the difference i + 2 lacs. Second year it will become an asset if there is opening liability . If opening liability is there it is first adjusted against it
SREEABITHA SENTHILKUMAR
CA Inter
★ 1K+
1
495