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Banking Companies
Accountancy
answered on 20-Mar-23 09:51
What is the CRR and SLR rates applicable for the attempt May 2023
latest answer
CRR is 4.5%
Naveen Kumar
CA Final
★ 3K+
3
513
Investment accounting
Accountancy
answered on 18-Mar-23 12:14
Interim dividend should be cr. To p/l account or investment account
latest answer
Ohk ,.. Thankyou
Rifhat Khan
CA Inter
★ 28K+
2
450
Investment account
Accountancy
answered on 18-Mar-23 05:38
Why this 7500 dividend in credit side 1st item is cr.to amount column and not dividend column...
latest answer
Because it is Pre-acquisition dividend and hence, it is treated as recovery of cost. So, it is credited to the amount column to reduce the cost of investment.
Rifhat Khan
CA Inter
★ 28K+
1
514
Accounting for live stock
Accountancy
answered on 20-Mar-23 09:52
Does live stock(like cow,hen,sheep for wool,milk etc) is included in the scope of AS-10
latest answer
For e.g if dog is used for security purpose. It will be classified as PPE since not used for Agricultural activity.
Atharv Sankliya
CA Final
★ 3K+
8
645
Income from house property
Direct Taxation
answered on 18-Mar-23 07:16
Jayanti borrowed Rs.8,00,000 @ 12% p.a interest on 1.4.2018 for construction of a house which was completed on 15.3.2020 . The entire loan is repaid on 31.8.2022. the deduction allowed u/s 24(b) for A.Y 2023-24 is ?
latest answer
Since loan taken after 1.4.99 And construction completed within 5 years JAYANTI CAN TAKE DEDUCTION U/S 24(b) maximum 2lakh ( if she has certificate from lender) If not Max allowed is 30k
Sanjay Nandha
CA Inter
★ 11K+
1
421
Cash and cash equivalents -Short term bank deposit
Accountancy
answered on 18-Mar-23 00:47
Does short term bank deposit (2-3 months ) considered as cash and cash equivalents or current investment because it is also qualifying the defination of investment as per AS-13
latest answer
Yes it is investment as per AS 13 & AS 3. It acnnot be treat it as cash equivalents because it is a uncertainity thing when it is encashed.
Atharv Sankliya
CA Final
★ 3K+
1
346
Disclosure in P/L a/c
Accountancy
answered on 20-Mar-23 09:52
Why we disclose gain or loss in P/L a/c ,if the fixed asset sold? Because it is capital nature.
latest answer
But it represents profit earned by the enterprise.
Kamal Kumar
CA Inter
★ 7K+
1
390
Trading of agricultural products
Accountancy
answered on 20-Mar-23 09:53
Does trading of agricultural, livestock and forest products are included in the scope of AS-2 ?
latest answer
If the business is purchase and sales then they are not producers. Hence AS-2 is applicable.
Atharv Sankliya
CA Final
★ 3K+
3
436
Deposits
Corporate & Other Laws
answered on 20-Mar-23 14:04
If any amount received as unsecured loan from the member will be considered as deposits?
latest answer
Yes, its deposit provided it does not fall in any of the exceptions given in Rule 2 of Companies (Acceptance of deposits) Rules, 2014
Kamal Kumar
CA Inter
★ 7K+
1
488
Consolidation
Accountancy
answered on 20-Mar-23 09:53
Can anyone send me the Analysis of profit for this sum?
latest answer
Which part in AOP are you finding difficulty.
Naveen Vs
CA Inter
★ 470
1
435