Independent barnches

answered on 26-Sep-23 09:18

Goods sent to branch at 10% cost plus and sold goods at invoice price plus 25%. While calculating closing stock the stock will be calculate at whole shale price.hence, the cl st should be 84k*110/125 know why in this sol 100/125 considered?

latest answer

Tq

Ujwal Reddy

CA Inter

★ 7K+

2

200

Adjustment doubt in adv accounting

answered on 26-Sep-23 09:22

In solution explain the 3. Journal entry. Kindly elaborate it.

latest answer

First of all we write off 7% preference share so we debited 6,00,000 and issue 4 new 5% preference share 4 per 1 share of 10rs so 12000 share holder * 4*10 =4,80,000 credited and new equity share issued 12,000 preference share holder s *6 per share *2.5rs = 1,80,000 and remaining balance debited to capital reduction a/c

Revathy N

CA Final

★ 9K+

2

214

AS 2 Valuation of inventories

answered on 26-Sep-23 13:26

I have a doubt in the illustrations in AS 2, valuation of inventories. The 14th illustration part b. The NRV is lesser than cost, but in solution its given otherwise

latest answer

So sales commission will be reduced to compute NRV

Jeffy Fredline

CA Inter

★ 60

9

223

Amalgamation

answered on 26-Sep-23 16:26

Dear Team, In the attached example, components of statutory reserves are treated separately from Reserves and Surplus, 1st Query :- what are the other components of statutory reserve. 2nd Query:- what are the other components of reserves & surplus,other than retained earning, revaluation resv, statement of changes in equity etc.

latest answer

Thankyou Sir.

Namrata Lall

CA Inter

★ 0

6

250

AS-13 acquisition of shares by the way of exchange of other assets

answered on 24-Sep-23 17:52

What is the meaning of this point ? Please explain with example?

latest answer

If you invt. Some amount in a company, but after few days you need an asset and the amount you invt. in a company is going to sell that asset. So if you need that asset you can exchange the invt. with that asset. Ex: X ltd make an invt. at Z ltd. After few days, Z ltd is going to sell a machinery. X ltd are also need that machinery. So X Ltd made an exchange of Machinery with that invt.

Atharv Sankliya

CA Final

★ 3K+

1

215

Depreciation EASY

answered on 26-Sep-23 11:47

In this sum , as on end of 8th year , we know that the residual value and useful life have changed. But why in this sum , as on end of 8th year ,we not accounted for change and accounted for change in depreciation from year 9 onwards.

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Thank you ❤️

Krishnan K

CA Inter

★ 5K+

9

230

SLR Ratio?

answered on 24-Sep-23 10:14

iIllustration 1-Unit 6 - Banking Comp- pg.8.90 Is the SLR 18% or 23%? in the book it is given as 23% while calculating excess liquidity?

latest answer

23% is older ratio. Now it is 18%

Aabith Sha

CA Inter

★ 8K+

1

239

Partnership

answered on 24-Sep-23 11:40

X,Y and Z are partners in the ratio of 3:2:1. W is admitted with 1/6th share in future profits .Z would retains his original shares. Find out the new profits sharing ratios of the partners

latest answer

If u work out I'll get an answer of 12:8:5: 5 check it out 🙂

G.kavitha G

CMA Inter

★ 515

1

229

Hire purchases

answered on 21-Sep-23 07:43

Installment amount and deposit amt will be received by hire vendorfrom hire purchaser .then in the solution the received entries shall be mentioned in credit side right?and sale of tractors under HP shall be shown in debit side right?

latest answer

They said to prepare a hire vendor account and depreciation account means they clearly indicated that we should prepare accounts in the books of the hire purchaser. We can't prepare a hire vendor account in the books of the hire vendor only right.

Ujwal Reddy

CA Inter

★ 7K+

5

221

Liquidation of companies

answered on 20-Sep-23 17:43

Is, secretary salary a preferential creditors? If yes, to what extent?

latest answer

Thank you guys 😇

Ashfaq Ahmed

CA Inter

★ 3K+

3

205