Forums
Capitalization of Removal Expenses
Accountancy
answered on 21-Nov-20 08:17
AS 10 clearly states that only expenses incurred till that date of commencement of usage of the asset are to be capitalised. However, in this case, an expense of future removal has been capitalized (May 2020- RTP). Can you please explain why and the logic?
latest answer
Decommissioning costs are also capitalised.
Suraj Narayanan
Qualified CA
★ 7K+
1
522
Ledgers
Accountancy
answered on 21-Nov-20 09:51
Normally when we're asked to write concerned ledgers and given excluding bank transactions, there is no need to write up bank ledger na??
latest answer
Thank you
Susee Arunachalam
Qualified CA
★ 26K+
2
612
Redemption of preference shares
Accountancy
answered on 20-Nov-20 13:23
Sir for calculating no of shares for fresh issue Should we divide the redeemed value by FV of equity shares or by FV+Premium at which it is issued
latest answer
Thanks sir
shivani lolla
CA Inter
★ 1K+
2
634
Question 2 and question 4 related of Redemption of Preference shares
Accountancy
answered on 20-Nov-20 13:22
Sir in question 2 we have divided amount to be redeemed by FV of equity shares issued..whereas in question 4 we have divided the amount to be redeemed by FV+premium of equity shares issued... please explain why I am confused.
latest answer
Okay Sir... understood... Thank you
shivani lolla
CA Inter
★ 1K+
2
563
Departmental accounts
Accountancy
answered on 21-Nov-20 10:12
What is logic behind this?
latest answer
Finished goods are transferred at market price.
Swathi Krishna
CA Final
★ 8K+
3
536
Department accounts
Accountancy
answered on 20-Nov-20 16:33
Why is carriage inward apportioned on the basis of purchases ?
latest answer
because that is the best cost driver.
Swathi Krishna
CA Final
★ 8K+
1
529
Financial statements
Accountancy
answered on 20-Nov-20 10:30
Sir for calculating percentages for dividend in case of inadequacy of profits as per declaration of dividend rules 2014 Dividend here means = dividend + dividend distribution tax or not ?
latest answer
Dividend.
Vanacharla Sai Pavan Kumar
CA Final
★ 8K+
1
524
Investment
Accountancy
answered on 21-Nov-20 10:32
While finding out the weighted average cost , should we need to deduct the shares which are sold also? Why is the treatment different in this two questions? Please reply.
latest answer
Thax sir
Swathi Krishna
CA Final
★ 8K+
13
519
Doubt in "Goods sent on Sale or return basis"
Accountancy
answered on 20-Nov-20 08:24
Sir....... In practical question 4 in inventory chapter...... physical verification is done in 23rd June.....and stock value should be determined on 30th june........ in between 23rd and 30th goods sent on approval is 3,20,000 of which half of the goods were returned before 30th june.....but no information is available regarding the remaining half of the goods...... In solution.....what they have done is.....for the remaining half goods......cancellation of sales is made...... Now what my doubt is...... Should we do the Cancellation of sales only on the year end (or) it can be made in any other circumstances as above(question 4 of inventory)....
latest answer
It can be done at month end as well.
Girinath A
CA Inter
★ 765
1
526
AS2
Accountancy
answered on 20-Nov-20 10:03
If the model itself is removed wont the items that were required to manufacture that car model become useless and if so it cannot form part of inventory as it fails to sarisfy the defn. Of inventory? I mean shouldn't it be shown under current asset or non current asset as per its realization term? Please clarify
latest answer
It will be shown under inventory.
Venkatesh Rathinam
CA Final
★ 15K+
5
579