Books

answered on 22-Nov-23 18:30

I have IL accounting standards notes of old syllabus do I need to buy new notes for accounting standards

latest answer

Thank you

vamsi krishna

CA Inter

★ 43K+

2

255

Framework

answered on 22-Nov-23 17:28

What's the difference between AS and Framework for FS What's the difference between General purpose FS and Special purpose FS

latest answer

Thank you sir😇

vidhya senthilkumar

CA Inter

★ 695

2

298

Payment of dividend in year of loss

answered on 19-Nov-23 06:05

when company used to pay dividend in the year in which it made losses, from its past reserves and accumulated profits, there is one condition that the rate of dividend must not be more than the average rate of dividend Of past 3 years, Question is, what if company didn't declare dividend in last 3 years, or didn't declare in 1 or 2 yrs in last 3 years, then how that max rate will be calculated?

latest answer

If dividend is not declared consider 0%

Garima Bhargava

CA Inter

★ 185

1

219

Partnership Proportionate Capital

answered on 23-Nov-23 09:19

When the question specifies that 'Capital is to remain the same as it was before retirement' or that new partner brings in capital in proportion to the old partner's capital, do we consider adjusted capital (adding gen reserve, revaluation, etc) or the capital given in the balance sheet?

latest answer

Thank you sir!

Vishnu Muraleedharan

CA Final

★ 32K+

2

289

Capital expenditure and revenue expenditure

answered on 17-Nov-23 18:21

₹ 5000 spent on addition to machinery in order to increase the production capacity is Capital or revenue expenditure Please state with reason

latest answer

Understood tq

Devi sri K

CA Foundation

★ 7K+

2

203

Accounting process

answered on 18-Nov-23 07:12

On 31st March 2022 after sale of goods worth ₹2000 he is left with closing inventory of ₹10000 It is event or A transaction Please state with reason

latest answer

Understood rq

Devi sri K

CA Foundation

★ 7K+

7

302

Capital expenditure and revenue expenditure

answered on 17-Nov-23 19:12

The benefit from the expense is spread for not more than one year is Capital expenditure or Revenue expenditure

latest answer

👍

Devi sri K

CA Foundation

★ 7K+

6

207

CONSIGNMENT

answered on 17-Nov-23 00:30

Loading included in closing stock will be eliminated by following entry 1.Stock reserve account debit to consignment account OR 2. Consignment account to stock reserve account Which entry is correct??? 1 or 2 ??

latest answer

2 Entry

Prathmesh Kharul

US CMA All

★ 6K+

1

209

Syllabus Reduction in Chaos

answered on 15-Nov-23 20:14

Sir I see lots of chapters got reduced in new syllabus of CA Intermediate 2024, How do we study those chapters in future ? (out of passion in subject accounts ) Will they be available in Indigolearn? First of all my important doubt is why ICAI omitted all those chapters,do they want the student to learn on their own just like the case of self paced modules ? Are those chapters of any use in articleship or new syllabus of final ? Any testing will be made by ICAI on those chapters cunningly in new syllabus just to make paper tough ?

latest answer

Thank you so much sir

Harish Chandar T

CA Inter

★ 5

2

261

Capital maintenance

answered on 22-Nov-23 16:26

Sir in this sum what is the retained earnings? As per my knowledge R.E=actual closing capital - closing capital required = 13000-14,400 = (1400) Is my Retained earnings answer correct??

latest answer

Retained earnings is zero - since entire earnings have been withdrawn.

Krishnan K

CA Inter

★ 5K+

2

222