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Sacrificing ratio or profit sharing ratio.
Accountancy
answered on 30-Oct-20 13:31
1)How do we know we need to use sacrificing ratio or profit sharing ratio for sharing Goodwill. 2)In some questions sacrificing ratio is used and in some questions profit sharing ratio is used for sharing Goodwill.
latest answer
Thank You Sir.
ALDRIN G
CA Inter
★ 12K+
2
728
Incomplete records
Accountancy
answered on 27-Oct-20 17:51
In this illustration 8 of the institute's textbook, how is the balance of the bills receivable ac become bills dishonoured, what is the logic behind it ?
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Thax
Swathi Krishna
CA Final
★ 8K+
5
590
Buy back
Accountancy
answered on 27-Oct-20 17:22
In buy back videos sir told crr is created to compensate the liability holders but when crr is used for issuing fully paid up bonus shares then the amount gets converted into share capital then what is benifit for liability holders
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If the amount is kept in free reserves, company may pay dividend. If it is capital, it is difficult to return it back to the owners.
Enuguru Sai Nithin
CA Final
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1
620
Partnership account
Accountancy
answered on 29-Oct-20 10:08
Sir I couldn't understand why â?¹10000 is deducted from net profit before giving it to ram and rahim. Pls explain
latest answer
1,10,000 is before distribution of profits. Out of this new partner would get 11,000. In this 1,000 is only to be borne by Ram. Total profit 1,10,000 Less: Share of new partner 10,000 Balance 1,00,000
Sri kanaga Varshini
CA Final
★ 3K+
8
810
Partnership
Accountancy
answered on 27-Oct-20 17:53
Fixed deposit
latest answer
Thank you sir
Bharathi K
CA Inter
★ 14K+
6
642
Doubt.
Accountancy
answered on 26-Oct-20 18:06
When goods are sold on sale or return basis and that goods are returned by customer why don't we pass journal entry for taking the returned goods into closing stock?. Pls give clarity .
latest answer
Sir But we didn't pass this journal entry when goods are returned . Sales return A/c Dr . To trade receivables A/c Dr. This journal entry alone is passed . Still I misunderstood something sir pls give clarity
Sri kanaga Varshini
CA Final
★ 3K+
2
597
Sale or return basis
Accountancy
answered on 26-Oct-20 18:02
Sir in this question why do we take into account the excess amount by which our customer sells good is taken into consideration. Why he (our customer) reveal that to us .
latest answer
Ok sir
Sri kanaga Varshini
CA Final
★ 3K+
2
652
Not able to understand certain points in solution
Accountancy
answered on 25-Oct-20 12:30
I am attaching question as well as solutions Following are the points I need to understand from you 1.in 2005 in plant purchased we wrote difference of 50,000 and then charged 10 percent dep And in 2006 what was the point of separating 240k and 460k 2.do we always write full value in depreciation provison account like in to disposal account we wrote the cost 3.in sale or disposal account how did we get loss of 4000 4.i need journal entries of all the transaction to understand more clearly Pls give solution as soon as possible
latest answer
1. For plant purchase in 2005 - depreciation of 50K was charged ie half year dep - nothing else was done. It is diff between Cost and accumulated depreciation so far - it is fully depreciated by this year 2. We are separating 7 lacs into 240 k & 460K because there is a sale of assets worth 240K. For assets of 2004 / 2005 the P&M is fully depreciated and hence we need not separate them. 3. Yes Depreciation & provision for Dep are always maintained 4. 4K loss computation . on 2004 assets fully depreciated so no loss on scrapping. 2005 asset fully depreciated and hence 5k is fully profit. 2006 asset 90% depreciated so book value is 24K less: amount realised is 15K i.e loss of 9K. total loss i.e 9K loss + 5K profit
Nilesh Malviya
CA Inter
★ 655
1
659
Debenture
Accountancy
answered on 25-Oct-20 18:13
Sir why debenture suspense account is shown in asset side?
latest answer
Ok thank you .
Sri kanaga Varshini
CA Final
★ 3K+
2
690
Investment Accounts
Accountancy
answered on 24-Oct-20 23:59
In illustration 5 why didn't they credit the sale of right shares in the investment Account Why is it straightly credited to P&L A/c
latest answer
Thank you
Sri Varshini
CA Inter
★ 575
4
667