Internal reconstruction

answered on 22-Oct-23 13:30

In some of internal reconstruction ques , bank overdraft is included in a bank account and in some ques it hasn't included , should it be included ? It is a loan ..so how can we include it in Bank account

latest answer

OD accounts generally have both the characteristics of Loan as well as bank account, when they have negative balance should form part of loans (liability) , and when have positive balance should be part of Cash and cash equivalents from the prospective of a company.

Samridhi Sareen

CA Inter

★ 830

1

221

AS 18

answered on 19-Oct-23 11:07

In this question, R ltd hold 10% shares directly and 15% shares indirectly through subsidiary S ltd in T ltd. It means R ltd has significant influence (25%) on T ltd hence related party under para 3(b). 👉ICAI solution 10% directly + 9% indirectly ( 60% of 15%) =19% Hence no significant influence, not related party, no disclosure. Also T ltd is listed company it means AS is not applicable. How to approach this question ❓

latest answer

Ignore the listing company aspect. Also there is a significant inflence because R ltd can decide what S ltd votes for in T ltd.

Jitendra Kumar

CA Final

★ 41K+

1

214

Discount on issue of debenture

answered on 19-Oct-23 13:44

Why does discount on issue of debentures not written off opening balance has shown on debit side why not on credit side

latest answer

Thank you sir

KOWTICA VIKAS

CA Inter

★ 85

2

216

AS 22

answered on 18-Oct-23 14:07

Why 3rd year timing difference is nil and DTL created in year 1 is not reversed.

latest answer

Year 1 - 4 Year 2 Reversed 2 Year 3 Reversed 2 So 0

Jitendra Kumar

CA Final

★ 41K+

1

195

Acca capital structure

answered on 17-Oct-23 15:43

Here income tax is refunded i.e., 20000 but that is in the year 2021. But that belongs to year 2020 How would be the treatment I am confused a bit. Question 33

latest answer

That will be credited to P&L

Sugam SM

CA Foundation

★ 9K+

1

238

CA Foundation [Final Accounts]

answered on 18-Oct-23 14:09

I am not able to solve this Question Can you please provide the of this Question Practical Q.10

latest answer

Yes.

Ab Devliear

CA Foundation

★ 3K+

7

354

Branch accounts

answered on 16-Oct-23 15:22

In this sum why bad debts is not appearing in branch adjustment?

latest answer

Thankyou

HariPriya C

CA Final

★ 3K+

3

254

Final accounts of Sole proprietorship

answered on 17-Oct-23 15:55

Commission payable to manager on Net profit (Before charging such commission) If any body can explain. Other than module

latest answer

Say Profit before commission is 100 Commission is 10% after charging commission. So Commission = 10% * (100 - Commission) Commission = 10 - 0.1 * Commission 1.1 Commission = 10 Commission = 10/1.1 = 9.09 Cross chec Profit. = 100 Commission = 9.09 Profit after commission = 90.91

Bhavesh Kumar

CA Foundation

★ 425

2

290

NPO

answered on 15-Oct-23 06:38

Will outstanding expense will come in income and expenditure a/c

latest answer

If O/S is of current year then will added to concerned expense in (income and expenditure a/c) And if it is of previous year then it will be Deducted from concerned expense in (income & expenditure A/c

SRIHARI K U [XI-D]

CA Inter

★ 4K+

1

213

Rectification of errors

answered on 15-Oct-23 19:19

An amount of rs 300 is spent on the repairs of machinery is wrongly debited to the machinery account Account Rectify the above entry I feel the question is somewhere wrong please explain me

latest answer

Thankyou so much bro 👍

Divinne Fiona

CA Inter

★ 9K+

4

242