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Issu of share
Accountancy
answered on 12-Sep-20 11:26
Q4 in attachment
latest answer
Building a/c .... Dr 10,00,000 To Bank a/c. 1,00,000 To Equity share capital a/c 7,50,000 To Securities premium a/c 1,50,000 Here balance amount (10,00,000 - 1,00,000) will be raised by equity shares issued at premium of Rs 2 i.e,, Rs 12 Hence (9lac/12 = 75,000 shares) for which nominal value should be credited to equity share capital and premium should be credited to Securities premium.
sushama shedekar
CA Foundation
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575
Boe
Accountancy
answered on 25-Aug-20 15:40
In boe drawer B/R can be transferred to endorsee Like that only the drawee can transferred his B/P to any person from where he want to receive the money from? So by this way in the Bill's of exchange there can be four parties know not only three
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If A draws a bill on B for Rs 5000 so that on the due date of the bill A can present the bill to B and encash 5000 Here in this case Drawer is A( who drawn the bill). Drawer is B who accepted the bill. Payee(beneficiary) is A( as he receives the payment finally) If A endorses the bill to C(creditor for A) for the amount payable to C. Then the Drawer is A( drawer of bill doesn't change). Drawer is B (acceptor of bill does not change). Payee is C ( beneficiary) receiver of Rs 5000. Here payee is also called holder of the bill. Finally there are only 3 parties.
THARUN KUMAR EKAMBARAM
CA Foundation
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631
Overstatement of sales
Accountancy
answered on 12-Aug-20 17:54
What happens to net profit when there is overstatement of sales?
latest answer
Please mark the MCQ correction by clicking on top right !. We shall correct it immediately
Anirudh Gupta
CA Inter
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3
553
I've seen this article recently......
Accountancy
answered on 12-Aug-20 15:17
Really great sir... proud to be your student.....
latest answer
Thanks a lot for your feedback
Ramatulasi Tanukula
CA Inter
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1
546
Dissolution of parntership
Accountancy
answered on 11-Aug-20 21:26
Can you please explain the logic of maximum possible loss method in piecemeal distribution ?
latest answer
Each installment realized is considered to be the final payment. After payment of all the outside liabilities and partners loan under these method, maximum possible loss an every realization is calculated.
Swathi Krishna
CA Final
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529
Dissolution
Accountancy
answered on 11-Aug-20 19:05
In this below question can't we debit the unrecorded asset with rs 6000 in the realisation a/c ? If not why ?
latest answer
We should not. Since, the actual value of asset being Rs. 6,00 is not recognized earlier, now it has been taken over by Q for Rs. 4,800 which is gain to the entity and hence, realization account has been debited with Q.
Swathi Krishna
CA Final
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3
600
Financial statement of banking companies
Accountancy
answered on 11-Aug-20 18:15
In this sum how come they did not take the value of fixed assets given in the TB ??
latest answer
The information given for fixed assets is after depreciation and respective depreciation. Using that we have calculated opening balance of fixed assets.
anamika vardhan
CA Inter
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903
Which Type of account
Accountancy
answered on 08-Aug-20 14:20
Outstanding rent is representing a person so it is PERSONAL a/c, OK but it is also a liability as it is yet to pay .Then why can't we treat it as REAL a/c because real a/c are all assets & liabilities( as we know balance sheet is based on real a/c's).. please clarify my confusion clearly
latest answer
Outstanding rent is the representative personal account , it is classified as a personal account. But, expenses outstanding a/c is a personal account with a credit balance. The balance indicates the amount that is owed by the organisation on account of unpaid expenditure. Hence, treated as liability.
Hari Krishna
CA Foundation
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1
733
Single entry
Accountancy
answered on 10-Aug-20 11:57
In the question it is given as damaged once was sold for rupees 500 which is included in the cash sales but One of the faculty has made that above account and credited by sales rupees 1500 but I think OK it is credited by sales with 500 what we do
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Can you please send the question image or the video reference?
subramanyam yendakuarthi
CMA Final
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566
Doubt
Accountancy
answered on 08-Aug-20 00:26
Is this illustration no.1 is complete in question ??
latest answer
Yes. It is complete.
anamika vardhan
CA Inter
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617