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Conversion of partnership firm into company
Accountancy
answered on 12-Sep-20 09:19
How's that dena bank 25000 credited in realisation account
latest answer
Loan
anamika vardhan
CA Inter
★ 1K+
1
835
Accounting Redemption on Preference Share
Accountancy
answered on 11-Sep-20 11:34
Please do look the question for the adjustment of debentures and why were they given extra for conversion
latest answer
How is it extra?
aman kawad
CA Inter
★ 7K+
1
776
Amalgamation
Accountancy
answered on 14-Sep-20 18:59
In practical problems question no. 2 , in the solution provided by institute why didn't they provide the 'loan Yltd' in the debit side of realisation a/c?
latest answer
Thank you sir
Swathi Krishna
CA Final
★ 8K+
2
768
Partnership accounts
Accountancy
answered on 11-Sep-20 11:34
Can anyone explain this illustration no.2
latest answer
What is your doubt here?
anamika vardhan
CA Inter
★ 1K+
1
679
Journal Entry
Accountancy
answered on 09-Sep-20 23:09
Please write journal entry and explain given below transaction is of passbook at bank or cash book of account holder. "Dear bank User, ur A/cX111 - debited by Rs 1000 on 11 -8-2020."
latest answer
Generally we receive these type of messages mentioned above to the registered mobile numbers which are linked to bank accounts. This message indicates that the customer account is debited in bank books of accounts(passbook is a copy of account of customer in the bank). Customer deposits money in the bank, such money should be returned to the customer as on request of customer. From this it clearly depicts that the customer is creditor for bank So customer a/c will be of credit balance(deposited amount) in bank books if he draws money the liability of bank will be reduced. so, to reduce credit balance it will be debited such that the balance in bank account will be reduced. There are two types of account formats i) T shaped accounts ii) Running balance form of accounts The second type of accounts are used in banks which you can see in bank passbooks. Journal entry in the books of customer, Expense/Asset/Drawings a/c....Dr 1000 To Bank a/c. 1000 (Being expense/Asset/Drawings made through bank) Journal entry in the books of Bank, Customer a/c.... Dr. 1000 To cash a/c. 1000 ( Being cash drawn by customer) If the bank customer issues any cheque to his creditor and he presents such cheque on a later date NO ENTRY is required in the books of Bank customer, because it is already recorded on the transaction date. Hope it helps!!!
Hari Krishna
CA Foundation
★ 1K+
1
832
Debenture
Accountancy
answered on 10-Sep-20 00:46
Own debentures account should b debited or directly we can debit debentures account.. Can u plz send me how to do dis some widout own debentures account if so
latest answer
Journal entries are recorded in chronological order. Hence the entries should be made for when debentures are purchased and cancelled as well. When purchased, Debenture redemption a/c.... Dr(cost) Debenture interest a/c...........Dr(interest accrued) To Bank a/c. (Being debentures purchased) As we just only purchased the debentures and not cancelled, debentures a/c cannot be debited as on that date. Later when we cancel the debentures the following entry will be passed. Debentures a/c...........Dr(Face value) P&l a/c(if any loss)....Dr To Debenture Redemption a/c(cost) To capital reserve(if any profit) (Being debentures cancelled) Here profit should be clearly credited to capital reserve because this profit is arised out of capital item(Debt capital) it is called capital profit. But loss should be written-off in p&l a/c. Hope it helps!!!
Shruthi V
CA Inter
★ 0
7
800
Debenture
Accountancy
answered on 08-Sep-20 17:51
On what amount should we create drr & drr investment and when.
latest answer
Still on face value.
Shruthi V
CA Inter
★ 0
3
723
Cash flow statement
Accountancy
answered on 12-Sep-20 13:01
Why this is treated as cash flow from investing activities? (In the pic)
latest answer
Purchase of shares and other securities , giving loans are basically investing activities.
Swathi Krishna
CA Final
★ 8K+
3
758
Applicability of AS group 2
Accountancy
answered on 07-Sep-20 22:31
What are AS are applicable?. Only 4,5,11,16,19,26,29 are 12,20 excluded? Old syllabus
latest answer
Ok thank you sir
Triveni Patil
CA Inter
★ 290
2
627
Hire purchase
Accountancy
answered on 06-Sep-20 16:02
3 equal installments together with interest 9% mnz. Is interest included in the installments or Its not
latest answer
Yes.
Shruthi V
CA Inter
★ 0
3
918