Trail balance items

answered on 23-Apr-24 16:40

Why the items in trail balance will appear only once in the financial statement?

latest answer

In trial balance - you have either income or expense or asset or liability or equity. So only once.

sitaram kollepara

CA Inter

★ 2K+

1

43

Financial Statements - Illustration 2

answered on 24-Apr-24 14:54

Hi Sir, As You were explaining about the Reissue of Forfeited Shares of above mentioned illustration, it is being mentioned in the Question that The reissue has been done at the Rs. 90, however, the face value of share is Rs. 100. Therefore, I request your kind self to explain about the legibility of Issuing forfeited share less than Face Value.

latest answer

Since its already issued and you have collected amount at time of first issue, it is allowed.

Aakash Raj

CA Inter

★ 0

1

146

Ca inter

answered on 21-Apr-24 19:18

Amalgmation page no13.78 in Q.13 while calculating capital employed ,effect of mutual owing has not been taken but in calculating net asset that effect is taken??

latest answer

Pls share the question as well.

Pooja Chavan

CA Inter

★ 0

1

169

Consolidated fS

answered on 21-Apr-24 19:18

How to treat preliminary expenses in the consolidated balance sheet.

latest answer

Write off.

Gayathri S Nambiar

CA Final

★ 2K+

1

223

Consolidation

answered on 22-Apr-24 09:43

In balance sheet b4 revaluation y u have considered loans and advances as assets General we use to assume it as liabilities only Kindly explain me plz

latest answer

Loan means the company has taken loan from bank, financial institutions etc. So it will be shown under liability. Loans & advances means it is given by company to subsidiaries, employees, financial institutions etc. which can be shown as asset in the balance sheet.

nive krish

CA Inter

★ 255

1

176

Debentures in Amalgamation

answered on 21-Apr-24 19:23

I am little confused when debenture arises in amalgamations.. can anyone say whether debentures shall include in purchase consideration ? And wherever the debentures shall include ?

latest answer

If debentures are given to shareholders - then part of purchase consideration If debentures are issued to settle the existing debenture holders - not a purchase consideration.

Jashvanth.K

CA Inter

★ 11K+

1

214

Whether to complete all AS SERIES once then move to other chapters?

answered on 21-Apr-24 22:30

Sir Whether to complete all AS SERIES once then move to other chapters?

latest answer

Sure Sir,, Thank you..!

GOKUL KOLATE

CA Inter

★ 1K+

6

238

As 1

answered on 22-Apr-24 15:26

What is the context of ICD here…what does that mean What is non provision interest ? Can someone explain this qsn in simple language..

latest answer

ICD - Any amount received by a company from another company falls under the category of ICDs. These are unsecured short-term loans provided by one corporation to another Non provision interest - Company is not paying interest

Sushmita Chowdhury

CA Inter

★ 2K+

1

151

As1

answered on 03-May-24 11:12

If there is permanent reduction Then it should go to pl Why provision created ?

latest answer

here provision means that only.

Sushmita Chowdhury

CA Inter

★ 2K+

3

193

As1

answered on 18-Apr-24 19:09

How is profit reduced ? If cost is reduced then profit is increased

latest answer

Thank you…. U explain good

Sushmita Chowdhury

CA Inter

★ 2K+

4

153