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What are the most important chapters for accountancy-CA foundation
Accountancy
answered on 27-May-24 16:24
What are the most important chapters for accountancy-CA foundation
latest answer
Company Accounts Partnership Accounts Final Accounts Non Profit Organisations Single Entry
Dova Shaji
CA Inter
★ 520
1
240
Death of partner
Accountancy
answered on 27-May-24 16:26
The answer is different in text and there is no goodwill in balance sheet
latest answer
OUr printed material has Goodwill 30,000/- and you can refer to that for the solution. This is a higher level adjustment. If goodwill is not given in balance sheet, remaining part of the problem remains the same.
Bharavi Kothari
CA Foundation
★ 20K+
2
129
Amalgamation
Accountancy
answered on 20-May-24 13:57
How the goodwill of the vendor company should be incorporated in the books of the purchasing company in both the cases in the assets and liabilities taken over journal entry
latest answer
You will calculate goodwill separately and incorporate. If you have any specific question, pls share.
Samuel Sundar
CA Inter
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1
228
REDEMPTION OF DEBENTURES
Accountancy
answered on 20-May-24 13:57
WHEN ISSUING DEBENTURES AT PAR AND REDEEMING AT PREMIUM THE ENTRY WILL BE DEBENTURE APPLICATION A/C DR 1000 LOSS ON DEBENTURE AC DR 100 TO DEBENTURE A/C 1000 TO PROVISION FOR 100 PREMIUM ON REDEMPTION OF DEBENTURE A/C FROM WHERE DID THE ADDITIONAL AMOUT OF 100 CAME BECUASE AT ISSUE WE ARE ASKING FOR 1000 ONLY????
latest answer
We asked 1000 But we have to pay back 1100 So extra 100.
Prathmesh Kharul
US CMA All
★ 6K+
2
398
Financial statements
Accountancy
answered on 20-May-24 13:59
Suppose a company has different business like sugar manufacturing, aircrafts, soaps. Now, how can company prepare financial statements whether separate financial statements for each business or one financial statement for all businesses.
latest answer
https://www.itcportal.com/investor/pdf/ITC-Financial-Result-Q3-FY2024-sfs.pdf Business specific disclosures are given as per segment reporting requirement. Sample Q3 financial for ITC is attached.
sitaram kollepara
CA Inter
★ 2K+
2
85
Consolidated profit and loss account
Accountancy
answered on 19-May-24 19:08
In solution of these question, why is "production expenses" shown under "cost of raw materials consumed"?
latest answer
Thank you
Safa Saleem
CA Inter
★ 4K+
2
266
same video repeating
Accountancy
answered on 20-May-24 14:33
same video repeating in Framework for choosing Accounting Policies and Funtamental accounting suuptions
latest answer
Both are different videos. Please listen to the full video.
Sandesh
CA Inter
★ 0
1
243
Accounts from incomplete records illustration 9 and illustration 10
Accountancy
answered on 20-May-24 14:29
Sir,please explain these sums,
latest answer
Illustration 9 & 10 from study material are already solved in the class.
Pradeesha Dharmaraj
CA Foundation
★ 1K+
1
280
ACCOUNTING STANDARDS INTRODUCTION
Accountancy
answered on 20-May-24 14:54
In the 4th benefit of AS There is something known as Capitalising revenue expenditure by that the company can verstate profits and assets. Could you please explain me the meaning of Capitalisation of revenue expenditure And example for writing off a capital expenditure against revenue
latest answer
Imagine a company spends 100,000 on maintenance of machinery.Normally, this maintenance would be considered a revenue expenditure and fully expensed in the current period, reducing profits by 100,000. However, if the company capitalizes this maintenance cost, it records the 100,000 as an asset on the balance sheet and then depreciates it over the expected life of the machinery (say 5 years). This means each year, only 20,000 (100,000/5 years) will be expensed, thus increasing current year profits compared to if the entire amount was expensed immediately.
OVIYA SELVAM
CA Inter
★ 650
1
89
Question
Accountancy
answered on 20-May-24 15:21
I can't understand Q3 (b) pls explain it
latest answer
There is a gap in the solution. Will upload a fresh video. Cashflow expected in Year 4 & 5 is 100 each. Cash flow expected in year 6 is 50. So total cash flow is 250. Balance amount to be written off = 100 Y4 write off = 100/250 * 100 = 40 Y5 write off = 100/250 * 100 = 40 Y6 write off = 50/250 * 100 = 20
Shivashankar Jawai
CA Inter
★ 2K+
1
240