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Rectification of error
Accountancy
answered on 19-Aug-24 17:10
Why income is shown in liability side
latest answer
Income has a credit balance and is shown on credit side of profit & loss account.
Sathya S
CA Foundation
★ 3K+
1
223
AS 7
Accountancy
answered on 20-Aug-24 09:08
ICAI material Pg no.8.27 4th and 5th MCQs explanation?
latest answer
In 4th MCQ revenue to be recognized based on work certified as given in the question. So, the answer is 320Lakh In 5th MCQ the total expenses are the cost incurred till date i.e., 360Lakh
Monika T
CA Final
★ 7K+
1
190
AS 16
Accountancy
answered on 17-Aug-24 01:03
here in this question, where did 52,50,000 Rs came from?!
latest answer
We are calculating the average accumulated interest. And then reducing the specified loan part from it. That is 50 Lakhs. And on the balance part that is 2,50,000 we apply 9.6% to arrive at the interest. So the interest to be capitalized is 1. On specified loan [50,00,000 × 8%] 4,00,000 2. On general Borrowing [(52,50,000 - 50,00,000) ×9.6%] 24,000
Niveta Rajkumar
CA Inter
★ 6K+
1
297
Journal
Accountancy
answered on 17-Aug-24 00:43
I need Solution and explain for this sim
latest answer
You're welcome
Muthu Manickam
CA Foundation
★ 100
6
232
Buy back
Accountancy
answered on 16-Aug-24 10:07
In debt equity ratio Equity = paid up capital+ free reserves Paid up includes = preference share also?
latest answer
Preference share capital is not included in paid up capital
Akhil
CA Inter
★ 180
2
227
AS 16 Borrowing cost
Accountancy
answered on 16-Aug-24 15:55
In the calculation of average accumulated expense, why is the expense for august 2023 ₹10,00,000 valued for 10 months instead of 6? (1st august 2023 to 31st January 2024)
latest answer
specific borrowing is taken for full period. Any income from such borrowing (when they are invested ) are deducted.
Sujitha M
CA Inter
★ 1K+
1
223
AS 16 Borrowing Cost
Accountancy
answered on 16-Aug-24 19:00
Can anyone please explain the computation part? J have arrived at the average interest rate at 11.9% but why can't I apply the same to funds incurred?
latest answer
OK sir got it
Sujitha M
CA Inter
★ 1K+
2
259
AS 16
Accountancy
answered on 16-Aug-24 15:58
In this question why are we taking 221 lakhs and apportioning for borrowing costs instead of taking 200 lakhs of loan amount and apportioning to find borrowing costs?
latest answer
It like for a total expense of 221, we borrowed 200. So we are splitting interest incurred on200 in the ratio of cost incurred.
Niveta Rajkumar
CA Inter
★ 6K+
2
266
AS 3
Accountancy
answered on 14-Aug-24 22:28
Practical Question 13. Pg no. 11.122 How is trade receivable 30,60,000 computed here? What's the logic behind here.
latest answer
Thank you…got it
Soon to be CA
CA Inter
★ 4K+
3
215
AS 16
Accountancy
answered on 15-Aug-24 08:00
In case of a single asset of 2 blocks, 1 block is under reconstruction and other block is not fully operational, what would be the treatments in AS 16 ? Would AS 16 Apply to the reconstruction of Qualifying asset ?
latest answer
Thank you 😊
Iswath Fazil
CA Inter
★ 0
3
196