Forums
AS 26 on Intangible Assets
Accountancy
answered on 04-Oct-20 11:33
In the video clip titled QnA 2, Satyaraghu Sir has discussed about the PV of benefit over future economic life for the development expenditure. But when and where did he discuss same while explaining about the Development Phase Expenditure?
latest answer
Exactly!
Rahul Sharma
CA Inter
★ 3K+
4
738
AS 26 - Intangible Asset (Video editing error)
Accountancy
answered on 06-Apr-20 11:40
Dear IndigoLearn Team, In the video with a title "IndAS 38 - 1" at 05:48, Satyaraghu Sir speaks about reading principles related to recording of an Intangible Asset at Fair Value as per IndAS 38. But the clip is edited, that portion is missing in the video and it directly starts at 05:49 another point of discussion.
latest answer
We have updated the video. Thank you for pointing out.
Rahul Sharma
CA Inter
★ 3K+
2
649
The video quality
Accountancy
answered on 13-Mar-20 12:41
because of the video quality the video buffers a lot and creates a lot of problem and disturbance
latest answer
Once the video starts, you can choose lower quality option. There will be marginal quality difference. Buffering happens when the network connectivity is poor, if the network connectivity is good, it will play seamless.
Sonia Mishra
CA Inter
★ 840
1
677
Branch accounts
Accountancy
answered on 12-May-20 10:50
In stock and debtors method, at one sum we transfer the excess sale over invoice price amt to Branch adjustment a/c and in another sum, we transfer it to Branch p&l a/c..which can we use in exams??
latest answer
Can you tell Which illustration ha sit transferred to Branch P&l?
Srini Sriram
CA Final
★ 4K+
1
646
Capital expenditure vs revenue expenditure
Accountancy
answered on 10-Mar-20 18:40
Generally replacement cost is regarded as revenue expenditure. I have a doubt in this regard, If an asset is purchased having life of 5 yrs and after using it for 3yrs replacing total asset with similar kind of asset, whether it turns to revenue or capital expenditure?? How the journal entries are made in the books?? Can anyone please help me out of this doubt!!!
latest answer
Then in which case replacement cost considered as revenue expense
VIJAYA SARADHI MAGANTI
CA Inter
★ 850
2
639
Accounting standard 5
Accountancy
answered on 09-Mar-20 19:30
How an ordinary item with exceptional nature will be treated as per AS5.?
latest answer
Disclose separately
mannem sai
CA Inter
★ 10
1
649
Partnership Accounts
Accountancy
answered on 09-Mar-20 21:18
In P/L Appropriation A/c, while giving interest, salary or commission to partner/s, is it necessary to show them in a particular order or they can be shown in any order? and transfer to reserves will be made only after appropriation of above entries?
latest answer
Actually this is my opinion, correct me if I am wrong As per partnership act there is no provision for int on cap,salaries,commission and provision is for int on partners loan @6% p.a Therefore, first deduct interest on partners loan After that Interest on capital is given for capital contribution and Salaries and commission will be given for hard labour these are only provided only if there is profit. Which should be deducted first should be made clause in agreement if not as per law no int and no salaries/commission and profit will be shared equally. After that if question mentions gen reserve should be provided after int on loan,salaries/commission ,int on cap it should be transferred to gen reserve after that profit will be shared b/w partners. Hope it helps!!!
Deepak Gupta
CA Inter
★ 1K+
1
649
Inventory
Accountancy
answered on 07-Mar-20 11:13
Sales tax is not allowed to cost of inventory and also packing and transporting charges should not be included in the cost of invt as they do not include in other cost
latest answer
When you purchase goods, sales tax paid (currently GST) will form part of cost of inventory if credit of tax is not allowed. Also the cost incurred in packaging and transportation (on purchased goods) to bring the inventory to your location would be a cost of inventory.
Dimple Keziya
CA Inter
★ 4K+
1
670
Investment accounts
Accountancy
answered on 13-May-20 10:18
Sir, in below problem in question given that interest is received on 30th September. Then if we sold debentures in october how interest will come.
latest answer
Business purchase account is prepared to incorporate assets and liabilities and settle the purchase consideration. You will learn it in depth in Amalgamation of companies chapter.
Star Ca
CA Inter
★ 3K+
3
713
Investment accounts
Accountancy
answered on 07-Mar-20 17:01
Sir, when convertiable debentures are converted into equity shares, why we credit investment in equity sharesa/c . In invenstment in bonds ledger a/c
latest answer
No we don't credit , the journal entry is Investment in equity shares A/c debit To bond/debentures AC
Star Ca
CA Inter
★ 3K+
1
609