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ILLUSTRATION 6
Accountancy
answered on 27-Feb-24 09:34
sir why in this sum u hv done proportionately whereas the similar qn illustration 2 it was simple and not complicated.can u xplain the difference b/w both the qns .i find them similar but the solution is confusing
latest answer
Okay sir
Nithya sree G
CA Inter
★ 0
2
96
As-15
Accountancy
answered on 23-Feb-24 13:58
Disclosures given in 1fin material didn't cover all disclosure requirements explained in video lectures. Which one should I follow?
latest answer
OK sir
sitaram kollepara
CA Inter
★ 2K+
2
91
Income
Accountancy
answered on 22-Feb-24 14:13
Here it is showing that the economic benifits in the form of decrease in liability so my question is how can it be possible that if we pay off our liability then the liability will automatically decrease but that are the obligation which we have to pay How can we consider it as Income Can anyone explain it to me
latest answer
Decrease in liability and increase in equity
Snehashis Mohanty
CA Inter
★ 35
1
242
Amalgamation of company - Illustration 15
Accountancy
answered on 13-Mar-24 14:37
I had one doubt sir, why you were not taken 10% debenture and loan from A for calculating Purchase consideration. It should be in Building 306000 Inventory 576000 Tr. Receivable 234000 Inventory 198000 Goodwill 216000 Bank 0 Less: Tr. payable (320000) 10%Deb (400000) Loan from A (160000) Net asset 650000 Therefore, B ltd will settle the payment by using cash and Equity share Cash = 600000 -Net asset = 650000 Equity share value = Rs.50000 Issue Price = Rs.125 Equity share =400 shares Amount(125*400) =Rs. 50000 If it is wrong please answer me why we were not taken the same. Thank you, sir
latest answer
The questions mentions only trade payables taken over at book value. Hence other liabilities are not considered.
Nishanth SK
CA Inter
★ 440
1
219
As16
Accountancy
answered on 13-Mar-24 13:47
I found this qsn & have doubt in this this In Jan all loan repayment was made Feb new loan taken, hence interest will start from feb for the expense made after loan has taken and not for expenditure made before Then why on upto jan 15% pa interest is charged
latest answer
Yes. But again reached overdraft subsequently. This overdraft would have been avoided if the capital expenditure was not incurred.
Sushmita Chowdhury
CA Inter
★ 2K+
3
254
As16
Accountancy
answered on 21-Feb-24 17:30
Loan taken for 4yrs 12% rs10lac 1/4/2021 = expended 30lac 1/9/2021 = expended 40lac Apr to aug interest on 40lac will be send to pl for general borrowing, for specific borrowing the same is captitalise, why
latest answer
Specific borrowing is for the specific purpose and hence capitalised.
Sushmita Chowdhury
CA Inter
★ 2K+
2
224
As 16
Accountancy
answered on 21-Feb-24 11:14
Discount or premium on REDEMPTION of debenture = borrowing cost ?
latest answer
It will be adjusted to calculate borrowing cost. Not required at Inter Level
Sushmita Chowdhury
CA Inter
★ 2K+
1
197
As4
Accountancy
answered on 27-Feb-24 09:44
The answer should be ALL (a,b,c). But in book it is given only a and b. Please tell what is the right answer ?
latest answer
Lot of sm MCQs have errors
Code X
CA Final
★ 960
1
241
Internal Reconstruction
Accountancy
answered on 23-Feb-24 12:11
Pg no: 6.19 Illustration: 4 In notes to accounts I have doubt in "issued, subscribed and paid up account". * In pref shares how comes 12000 as shares issued other than cash. * And in eq shares 180000*2.50=450000 then how comes 460000. *And how comes 84000 as shares issued other than cash.
latest answer
1. Preference shares - shares issued against loans 2. 184000 x 2.5 = 460,000 Share issued for other than cash against loan, preference share capital,
Priya Ravi
CA Inter
★ 55K+
1
255
Change in accounting policies and estimates
Accountancy
answered on 21-Feb-24 09:22
Why we are giving prospective effect in case of change in accounting policy and retrospective effect for change in estimates
latest answer
Tku sir
Shruthi Nachammai
CA Inter
★ 4K+
4
222