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Accounting for government
Financial Reporting
answered on 16-Oct-23 10:59
When I attended interview in a company there was a question from government . Land is given free of cost to the company. Condition is company should give job to local residence based on some eligibility criteria. What is the journal entry I have to pass for land given free of cost and value for the same. I was not able to explain this as if I say journal entry I have to say the amount also. Can you please help
latest answer
Non monetary assets received as grants are recorded at fair value as per Ind AS
swaminathan sundaram
CA Final
★ 110
1
345
Consolidated Financial Statement
Financial Reporting
answered on 18-Oct-23 14:38
Illustration 40 given in notes I like to know where this is explained in video lecture. Problems begins as follows On 1st April 2019, Investor Ltd acquires 35% interest in another entity, XYZ Ltd
latest answer
Video No 77.
swaminathan sundaram
CA Final
★ 110
1
391
Branch accounts
Accountancy
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
470
Turnover
Indirect Taxation
answered on 18-Oct-23 09:51
Mr. Dev Anand is engaged in providing services of facilitating sale and purchase of securities to various clients. He is also engaged in trading of securities. His turnover details are as follows: Trading of securities Rs. 40,00,000/- Brokerage on account of facilitating transactions in securities Rs. 30,00,000/- You are required to ascertain aggregate turnover of Mr. Dev Anand under GST: (a) Rs.30,00,000/- (b) Rs.40,00,000/- (c) Rs. 70,00,000/- (d) Rs.NIL.explain this please
latest answer
Tq sir..
Sowmiga Chandrasekaran
CA Inter
★ 7K+
3
476
Depreciation
Direct Taxation
answered on 15-Oct-23 21:40
SR Ltd. a producing company established its undertaking in the backward areas of Andhra Pradesh in the P / Y 2019-20. The company purchased some assets on 14 August 2019, however it was installed and put to use on 27 (th) January 2020. The rate of additional depreciation for the P/Y 2020-21 shall be; (a) 10% (b) 20% (c) 35% (d) 17.5%
latest answer
Understood !Thank u!!
Sowmiga Chandrasekaran
CA Inter
★ 7K+
4
414
MCQ
Strategic Management
answered on 15-Oct-23 21:36
Why is this not person marketing?
latest answer
Because when you upload on YouTube, you are not marketing to specific persons but to a lot of people at once.
Neha Baliga
CA Inter
★ 16K+
1
401
Section 42,43 of Indian Contract Act 1872
Corporate & Other Laws
answered on 17-Oct-23 16:00
Wherever they say 'Joint promisor', they also imply their legal representatives as well right?
latest answer
ok thank you!
Vishnu Muraleedharan
CA Final
★ 32K+
4
1K+
Ind AS 12
Financial Reporting
answered on 16-Oct-23 18:42
Illustration 3 page 10.45 of ICAI study material this is explained clearly in your video lecture, thank you for the same. Journal entry for DTL 1.10 crore what is the journal entry I have to pass. Request your help please
latest answer
Yes
swaminathan sundaram
CA Final
★ 110
3
348
Law
Corporate & Other Laws
answered on 16-Oct-23 13:05
On 30th June 2017, the liability side of Balance Sheet of X Ltd. showed balance of paid up share capital of Rs. 65 lacs, free reserve of Rs. 10 lacs, share premium account of Rs. 20lacs, deposits of Rs. 25 lacs, repayable in the current financial year, during the month of September 2017.In July 2017, the company was in need of some short term funds to the tune of Rs. 20 lacs for a period of 6 months. The maximum amount which the company may hold as deposit together with existing deposits will be— a) Rs. 33.25 Lacs b) Rs. 11.25 lacs c) Rs. 95 lacs d) Rs. 9.5 lacs.
latest answer
existing outstanding deposits will be included in calculating the max limit of deposits that can be accepted. (Note: whether deposit is short term or long term depends on the total tenure of the deposit. In the question total tenure is not available for outstanding deposits so we cannot decide whether its short term or long term.)
Sowmiga Chandrasekaran
CA Inter
★ 7K+
3
740
Cafc law
Corporate & Other Laws
answered on 15-Oct-23 17:32
is it enough if we only practice imp questions for law or we have to do the whole module ?
latest answer
Please study all provisions. Merely questions are not enough to pass
Bhoomi Bhanushali
CA Foundation
★ 110
2
390