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Cash flow statement (indirect method)
Accountancy
answered on 26-Apr-24 17:06
In question if net profit is given , we would consider it as net profit after tax. We will adjust non cash items and non operating expenses. What should we do when divided is paid ? Should we add back to net profit?
latest answer
No. Dividend is not deducted from net profit. So no adding back
Aswathi Aji
CA Inter
★ 1K+
1
195
Insurance Claim - Loss of Stock
Accountancy
answered on 30-Apr-24 16:51
Please help with calculation of opening stock of last year.
latest answer
Given 40,000
Samarendra Patasani
CMA Inter
★ 0
1
297
As 7
Accountancy
answered on 30-Apr-24 16:55
Please provide the solution of this question
latest answer
Refer solution above.
Naina Bhojwani
CA Final
★ 5K+
3
298
Internal reconstruction
Accountancy
answered on 06-May-24 09:45
In icai book illustration 3 sum , Bank od balance 35000 and other current liabilities amount Cannot Indicate why. Sir not explain about these part please explain
latest answer
Can you please elaborate your doubt?
Sathish Kumar
CA Inter
★ 3K+
2
267
Waste
Accountancy
answered on 25-Apr-24 16:39
Waste of time and waste of my money😒🫤😢
latest answer
What is the issue?
Muddangula Bharath kumar
CA Final
★ 250
1
173
Internal reconstruction
Accountancy
answered on 24-Apr-24 23:17
Please tell me, meaning and correct treatment of of point 11 ? I have little bit confusion 😔
latest answer
Reconstruction a/c Dr. 12,500 To Bank a/c 12,500
Nakul Dixit
CA Final
★ 4K+
1
261
change in method
Accountancy
answered on 03-May-24 11:13
while changing to different method y we divide by useful year and not multiply by rate of depreciation
latest answer
You can calculate revised rate of depreciation.
Bharavi Kothari
CA Foundation
★ 20K+
2
169
When agreed value of consideration is intrinsic value (₹30 in this example) of Y ltd. But it shows it at Face value (₹10)
Accountancy
answered on 24-Apr-24 22:04
In this example, when Yltd. Decides to show the purchase consideration at par value i.e. ₹10 per share, so in books we mentioned purchase consideration as 50,00,000 shares x ₹10 per share, but what about the rest portion of purchase consideration that Yltd.paid to X ltd but doesn't show in books that is rest ₹20 per share (₹30-₹10, agreed value -fave value)?
latest answer
Liquidators A/c Dr 8000000 To psc A/c 3000000 To Esc A/c 5000000 If premium is allowed then Liquidator a/c Dr. 18000000 To psc 3000000 To Esc 5000000 To securities premium 10000000
Garima Bhargava
CA Inter
★ 185
4
327
Amalgamation of companies
Accountancy
answered on 30-Apr-24 17:18
In this question 7, (A) 4th point at a discount of 5% after takeover means?? Here they taken the full value of debenture for Net assets calculations of K Ltd
latest answer
issue price is 5% less.
Ramya Sundar
CA Final
★ 5K+
1
265
As 13
Accountancy
answered on 24-Apr-24 14:32
I purchased current investment on 1 /10/23.(F.y23-24) For 50lakh As on 31/3/24.fair value is 40 lakh. Since it is current investment, I carry this investment @ 40 lakh as on 31/3/24. 10 lakh is debited to p&l F.Y24-25 On 1/5 /24 , i decided to convert short term into long term investment. Fair value on 1/5/24 is 20 lak Now conversation should happen at lower of cost or fair value on date of conversation Cost =50 lakh( historic cost) Fairvalue = 20 lakh Hence conversion should happen at 20lakh Now my doubt is how much shld be charged to p&l in F.Y24-25 My anwer is 20 lakh charge to p&l. (difference between carrying value(40lakh) and 20lakh( conversion value) Is my understanding correct??
latest answer
Thank you sir
Krishnan K
CA Inter
★ 5K+
2
267