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Corporate & Other Laws
answered on 22-Sep-22 16:37
Can someone explain this 30/60/30 days in simple words â?¦itâ??s quite confusing
latest answer
Andhra Pradesh
Swetha S
CA Inter
★ 15K+
10
520
Career
Others
answered on 20-Sep-22 17:44
What is investment banking? And how can I get knowledge about investment banking.
latest answer
https://www.wallstreetmojo.com/investment-banking-in-india/ Check out this article
Keerthi Sck
CA Final
★ 565
1
514
Redemption of Preference Shares
Accountancy
answered on 20-Sep-22 16:58
In Illustration 5: As Per Marked Arrow; X Ltd has to issue minimum equity share at Rs.50 (i.e., at par). I understood how the value of 37,500 derived in two Journal Entries I marked. But I have a doubt that this why they have used Share Application Account? They should use Bank A/c Dr to Equity Share Capital A/c as its Fresh Issue of Share Capital for the purpose of redemption
latest answer
We will look into it. Thanks for highlightin
A B
CA Inter
★ 105
3
517
#39: Question for the day (Adv. Accounting)
Accountancy
answered on 21-Sep-22 10:12
Write the answer on a sheet as you would write in the exam and send the photo by 8 pm. #LetsPractice Om Ltd. has its share capital divided into Equity Shares of Rs. 10 each. On 1st April 2020, the company offered 250 shares to each of its 520 employees at Rs. 60 per share, when the market price was Rs. 150 per share. The options were to be exercised between 01-03-2021 to 31-03-2021. 410 employees accepted the offer and paid Rs. 60 per share on purchased shares and the remaining options lapsed. You are required to show Journal Entries (with narrations) as would appear in the books of Om Ltd. for the year ended 31st March 2021 with regard to employee stock options. (5 Marks)
latest answer
Tq sir
Sahibdeep Singh
CA Inter
★ 14K+
6
570
Acivity based costing
Costing
answered on 20-Sep-22 14:09
Why That 700,000 is not distributed
latest answer
Ok ð???
Harshada Shete
CA Final
★ 2K+
2
465
Income from other sources
Direct Taxation
answered on 20-Sep-22 11:29
In illustration 4 (attached), what will be the answer if Mr. Rajesh was a property dealer instead of a dealer in automobile spare parts? Which section would be attracted?
latest answer
He would record the property as Stock in trade. No implications under Income Tax act. He will record at asset at cost. (Definition of Capital Asset although includes immovable properties, but excludes Stock in trade. So there shouldn't be any impact under Section 56(2)(x) for him)
Rinuja TK
CA Inter
★ 10K+
1
582
Income from other sources
Direct Taxation
answered on 20-Sep-22 14:28
Suppose Mr. A gifted a car to his friend Mr. B of â?¹ 5 lakhs.How will be the taxability in this case and under which section?
latest answer
Car is not movable property as per Section 56. So, not taxable
Rinuja TK
CA Inter
★ 10K+
3
565
Liquidation Of Companies
Accountancy
answered on 21-Sep-22 01:06
In this sum arrears of dividend on preference shares is not paid
latest answer
But in the question, preference dividend is given so we should pay it
Harsh Mittal
CA Final
★ 1K+
2
416
Pand c
Maths & Stats
answered on 20-Sep-22 16:01
A dealer provides you maruti caar and van in 2 body patterns and 5 different colors. How many choices are open to you? How to solve this question
latest answer
5C2 is used when we have to arrange 2 out of 5 things in different ways. So she has done right as we have to arrange 2 colours of out of 5 given in two patterns for every 2 colours. The answer is 20 as for each of the cars, 10 arrangements are possible.
Samarth Kshatriya
CA Inter
★ 1K+
5
995
Declaration and payment of Dividend
Corporate & Other Laws
answered on 21-Sep-22 17:22
Set off current year losses before declaring dividend. Suppose AGM is held on 31/7/21 where dividend is declared from the profits of previous F.y right. Then surplus is already transferred to reserve and surplus in F.S of 2020-21. Then should we only set off losses of 4months till AGM is held? What is current year actually is it after end of F.Y 2020-21?
latest answer
The amount so drawn shall first be utilised to set off the losses incurred in the financial year in which dividend is declared before any dividend in respect of equity shares is declared.
Sugam SM
CA Final
★ 9K+
3
562