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Premium on redemption of Preference Shares
Accountancy
answered on 14-May-24 11:16
Sir when we pay premium on redemption of Preference Shares and adjust it against profit and loss account. Should we debit in pl or deduct from pl reserve in R&S. Similar where to write off preliminary expenses.
latest answer
Profit & Loss account for both premium and also preliminary expenses.
Shrihitha Udupa
CA Inter
★ 170
1
238
AS 3 Cashflow Statement
Accountancy
answered on 15-May-24 17:15
For a financial institution, would a Loan taken be Financing activity? Would Interest paid on this also be Financing?
latest answer
Financing.
Vishnu Muraleedharan
CA Final
★ 32K+
2
214
Wrongly attempted question
Accountancy
answered on 15-May-24 17:16
Sir... I had wrongly attempted all question by mistake i had reasonable assurance that last question was right is there any chance for marking those question if iam at the stage of having a little mark for passing....... Please reply
latest answer
No problem. You will get marks for best 4 questions.
Visruth Vichu
CA Inter
★ 890
1
201
Balance of provision for doubtful debt
Accountancy
answered on 15-May-24 17:21
What balance does provision for doubtful debt have-debit/credit?what is the reason?
latest answer
The entry is Bad debt To Provision for bad debt Bad debt is expense Provision is balance sheet item.
Daksha Selvakumar
CA Foundation
★ 1K+
3
112
AS 10, revaluation reserve which method is proper ?
Accountancy
answered on 20-May-24 15:24
Sir there are 2 ways one question is solved in sujjested answer different format is mentioned and in icai mat different format is mentioned
latest answer
both are acceptable and depends on the question.
Sushmita Chowdhury
CA Inter
★ 2K+
4
255
Inventory account
Accountancy
answered on 20-May-24 15:27
Why is inventory account being prepared and not trading account, for this question. Also how to know which account to prepare: inventory or trading account?
latest answer
You can prepare Trading account and solve it. You would get the same answer.
Nova Shaji
CA Inter
★ 2K+
1
110
Accommodation of bills
Accountancy
answered on 20-May-24 15:27
For 1/9/22, three entries are being passed. Is it fine to pass a single compound entry like this: Bills Payable A/C Dr 180000 Cash a/c. Dr. 9000 Discount account. Dr. 1000 To Sales account. 1 90 000
latest answer
Yes
Nova Shaji
CA Inter
★ 2K+
1
100
AS 12
Accountancy
answered on 09-May-24 09:10
If the asset is accounted for a nominal value of say ₹1 or ₹10 and the useful life is 10yrs, then what will be the amount of depreciation that will be charged for the useful life of the asset?
latest answer
Depreciation will not be charged as it is immaterial
Mahesh Ram
CA Inter
★ 0
1
212
Bank reconciliation statement illustration 11
Accountancy
answered on 07-May-24 08:21
Sir, please explain this sum I can't understand this method
latest answer
Ok thankyou sir
Pradeesha Dharmaraj
CA Foundation
★ 1K+
2
133
GOODWILL OF PARTNERSHIP ACCOUNTS
Accountancy
answered on 07-May-24 15:44
Can we write goodwill table form as working notes in the exam ( like explained in the lecture ) instead of profit sacrificing ratio will we get marks for it ? or should I just write the same way given in module
latest answer
Yes
Vijaya Lakshmi Pojula
CA Foundation
★ 2K+
1
253