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Banking
Accountancy
answered on 03-Nov-20 10:20
In this illustration 4 of the institute's textbook, Shouldn't the 25000 be deducted from the current account ? So wouldn't it become 945000?
latest answer
ARe you not able to trace back the values to the question?
Swathi Krishna
CA Final
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Banking companies
Accountancy
answered on 04-Nov-20 14:44
Will we be asked to prepare Balnce sheet? Or chances of P&L being asked is higher?
latest answer
Okay. I will keep this in mind , and practice Form B only. Thank you Sir.
Kumarjit Dey
CA Inter
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About Statutory Reserves
Accountancy
answered on 03-Nov-20 11:12
In a company's BS under Equity Shareholders Fund (ESF) comes a. Share Capital b. Reserves and Surplus Statutory Reserves like Export Profit Reserve and Investment Allowance Reserve form part of Reserves and Surplus. but above mentioned stat reserves aren't actually ESF in their truest forms, are they? if the company gets amalgated and taken over in nature of purchase, will those reserves be exhausted by being transfered to ESH's a/c like General reserves and P&L? No, right? They have to be incorporated in transferee's BS. My question is why are these reserves part of Equity Sh's fund if at the time of amalgation, the equity shareholders of transferor arent getting the benefits of these reserves?
latest answer
The transferee company does it by passing a book entry. The reserves of transferor company belong to shareholders.
Kumarjit Dey
CA Inter
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A Basic Query related to Amalgamation when in Nature of Purchase
Accountancy
answered on 02-Nov-20 20:56
Why is it that Export Profit Reserve (EPR) and investment allowance reserve (IAR) of Vendor company does not get the same treatment as General reserve which is transfered to Equity Shareholders a/c and diminished. The EPR and IAR of Vendor company appears under Reserves & Surplus of Purchasing Conpany Balance Sheet. What is the nature of these reserves and why are they appearing in transferee's BS? [Illustration 5, pg 5.14]
latest answer
Query solved myself. Solution in pg 5.13.
Kumarjit Dey
CA Inter
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AS 4
Accountancy
answered on 03-Nov-20 11:10
How is b(ii) adjusting event?
latest answer
Terms decided in March.
Swathi Krishna
CA Final
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AS 18
Accountancy
answered on 06-Nov-20 14:08
Is a Co- venturer a related party?
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Thax sir
Swathi Krishna
CA Final
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Buy back of shares
Accountancy
answered on 02-Nov-20 18:49
Sir , Can we use security premium on buyback of shares at premium ?
latest answer
yes
M Naresh
CA Final
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Banking
Accountancy
answered on 02-Nov-20 00:57
Is the new CRR rate and SLR rate applicable for nov exam ?
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K
Swathi Krishna
CA Final
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How to solve this one?
Accountancy
answered on 02-Nov-20 19:24
Pls do answer
latest answer
Normally how you prepare a profit and loss appropriation account.
Sampath B
CA Final
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AS 5
Accountancy
answered on 01-Nov-20 14:16
In the illustration 1 of institute's textbook, Shouldn't this be ordinary item which is in the exceptional nature How is this an prior period item ? Since there is no error in the previous years as the information w.r.t bills has been received this year rite ?
latest answer
Bill is received in Feb 2016 i.e 15-16 . It is accounted in 16-17 i.e from 1 April 2016 to 31 mar 2017 - hence it is a prior period item
Swathi Krishna
CA Final
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