Profit sharing ratio

answered on 31-Mar-24 11:19

According to the video can we take 1:1:1 every time if new or old PSR is not given

latest answer

Yes it's possible

Arjun

CA Inter

★ 8K+

3

207

Doubt regarding refund of tax adjustment

answered on 13-Mar-24 13:48

Please explain the treatment regarding refund of tax. Im getting answer as 42600 , when i added 1000 rupees refund of tax

latest answer

Pls share your working.

Parvathy Ajith

CA Inter

★ 0

1

212

Relating to cash outflow

answered on 11-Mar-24 17:03

Is dividend distribution tax treated as cash outflow?

latest answer

Yes

sitaram kollepara

CA Inter

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1

39

Cash flow statements

answered on 11-Mar-24 15:12

Provision for tax and advance tax concepts are little bit confusing.

latest answer

Follow the combined ledger method

sitaram kollepara

CA Inter

★ 2K+

1

65

Query in sale of land

answered on 11-Mar-24 12:31

Sir, it's actually on 1/4/01 amount of 480000 mentioned in question but u have mentioned as 440000 where is difference coming around 120000 but u have mentioned in book as 160000 Whether any other adjustments I have to be noted

latest answer

We made changes regarding that and uploaded in free resources

nive krish

CA Inter

★ 255

1

207

AS 26

answered on 10-Mar-24 15:59

->Sir as per an amendment for tax subject, goodwill is no longer an intangible asset ->what is its treatment in accounting? .will it be under intangible asset only? ->only for tax subject we hv to treat it as not intangible asset?

latest answer

Thank you sir

Nithya sree G

CA Inter

★ 0

2

81

PLEASE HELP ME SOLVE THIS QUESTION

answered on 09-Mar-24 20:53

The Net profit before tax of Mitra Ltd was Rs 100 lakhs and the Income Tax rate was 37%. The company’s preference share capital has the following classes12% Non Cumulative preference share capital 10% Cumulative preference share capital In its accounts, Mitra Ltd. has declared/ paid following dividends on preference capital: On No cumulative preference shares- fully declared for the current year. On cumulative preference shares- for the past three years. Assume dividend distribution tax at 17% and that the company transferred Ra 5 lakhs to general reserve. You are required to calculate the net profit for the period, attributable to equity shareholders.

latest answer

Which video are you referring to?

Angry Toshniwal

CA Final

★ 505

3

440

AS 10 PPE

answered on 10-Mar-24 13:19

Dear sir, Interest charges paid to the supplier of the plant for the "deferred credit term" means sir? Why is it not included while calculating the cost of assets? It's also mentioned in study material that it is not a qualifying asset.

latest answer

Okay sir. Thank you so much for clarifying.

Harshavardini K B

CA Inter

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3

220

Recognition of Bonus Payable - Interim

answered on 10-Mar-24 12:56

Hi sir, hope you're well. Bonus payable, must be proportionately accounted for prospectively over the interim periods, only if the same is a legal obligation. My doubt is whether the same treatment must be given, if the obligation isn't legal but constructive? Thanks.

latest answer

Yes

Devaprasad Jothimani

CA Inter

★ 0

1

155

As 28

answered on 10-Mar-24 13:01

I gone through the classes but still it's not clear that what is the difference between Bottom up test and top down test. In both the impairment loss is primarily setoff with Goodwill and secondarily with carrying amnt. Then what is the difference? Kindly consider my queries. Im really confused.

latest answer

Say we have 3 CGUs - A, B & C. If goodwill can be allocated on reasonable basis we allocate goodwill to A, B & C and test for impairment of each CGU - This is bottom up. If Goodwill cannot be allocated on reasonable basis, we identify the next higher level CGU. Say combination of A, B & C and then test for impairment of all three CGU (larger CGU) including goodwill. This is top down.

1 Minute Review

CA Inter

★ 405

3

207