Partnership accounts

answered on 13-Oct-23 10:52

How did 40500 come please explain me

latest answer

from partner's balance Capital 60000 Reserves +50000*3/10 Revaluation loss-30000/10*3 Goodwill +50000/10*3 Total 81000 paid 50%.- 40500

Divinne Fiona

CA Inter

★ 9K+

1

283

Partnership accounts

answered on 10-Oct-23 17:29

I don't understand this journal entry please explain me

latest answer

🙏🙏

Divinne Fiona

CA Inter

★ 9K+

4

257

Fixed assets

answered on 09-Oct-23 17:42

Hello sir What is the treatment that can be made if a fixed asset is being maintained in the factory which is in unusable condition ie breakdown for more than 5 years

latest answer

Okay sir thank you

Valli Kotapati

CA Final

★ 5

3

254

Accounting

answered on 08-Oct-23 21:49

If I leave Q1 wholly of account paper then will my paper be checked or not

latest answer

Yes paper will be evaluated but if you attend 5 questions excluding the compulsory question only 4 of those will be corrected and the last one will not be considered. So it's like you attended only for 80 marks.

Atharv Sankliya

CA Final

★ 3K+

2

261

Liquidation

answered on 08-Oct-23 15:07

Is overriding preferential creditors paid even before legal expanses , liquidation expenses n remuneration?

latest answer

No, firstly you should pay Legal and liquidation charges and then go for priority basis, because without those expenses you can't realise assets

Reetikaa R

CA Final

★ 7K+

1

229

Brs

answered on 08-Oct-23 18:22

A cheque drawn by b . Phillip charged by A.

latest answer

Kindly elaborate your query thanks.

Nayan

CA Foundation

★ 360

1

207

As 3

answered on 08-Oct-23 10:40

As on 31.3.22 Fixed deposit is maturing on 15 .4.22. As it is maturing within 15 days why it is not treated as cash and cash equivalents.

latest answer

Always Wlcm ✨

Krishnan K

CA Inter

★ 5K+

4

267

As 3

answered on 10-Oct-23 16:22

Short term investment in preference share is cash flow or not

latest answer

date of acquisition.

Krishnan K

CA Inter

★ 5K+

6

214

Expneses

answered on 08-Oct-23 18:24

How incurrence of liabilities is considered as expense ?

latest answer

When you postpone payment for an expense, you are incurring new liability. Like rent or salary payable.

Anjali S

CA Inter

★ 0

1

196

Ch -2 framework for preparation and presentation of f.st

answered on 08-Oct-23 18:31

Since the maintaining accounts on accrual basis is mandatory as per sec 128(1) then why in any case income/expense is recognised on cash basis ?

latest answer

If you follow pure accrual you can't enter advance received or prepaid expense in the books as the income is not accrued or benefit is not received. This point explains that you can't mix prepaid expense/ advance received and normal revenue/expense. Because one is recorded based on cash receipt or payment and other is in accrual. This is what I understand. Hope this helps.

Atharv Sankliya

CA Final

★ 3K+

6

231