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page 175 - is answer is correct
AFM
answered on 21-Apr-24 21:30
In the Part two of the question is not multiplied by r. is it correct question 14 part ii
latest answer
solved, it was my mistake
ezy pan
CA Final
★ 130
1
276
Tcs
Direct Taxation
answered on 22-Apr-24 09:29
Kishore & Sons is a dealer of coal. Its turnover for FY 2022-23 was ₹ 12 crores. The State Government of Hyderabad granted a lease of coal mine to Kishore & Sons on 1.5.2023 and charged ₹ 11 crores for the lease. Kishore & Sons sold coal of ₹ 95 lakhs to M/s BAC Co during PY 2023-24. Turnover of M/s BAC Co during the preceding financial year, ie PY 2022-23, was ₹ 11 crores. The above amounts were credited to Kishore & Sons account in the books of M/s BAC Co on the date of sale. M/s BAC Co furnishes a declaration to Kishore & Sons that coal is to be utilised for generation of power. Details of sale to and payments from M/s BAC Co by Kishore & Sons are as follows: S.No. Date Of Sale Date Of Receipt/Payment Amount (₹) 1 29.05.2023 10.05.2023 35,00,000 2 30.06.2023 10.07.2023 25,00,000 3 25.11.2023 25.10.2023 8,00,000 4 20.01.2024 22.01.2024 15,00,000 5 01.03.2024 15.02.2024 12,00,000 M/s XYZ Ltd purchased coal of ₹ 55 lakhs from Kishore & Sons for trading purpose in July 2023. Turnover of M/s XYZ Ltd during PY 2022-23 was ₹ 12 crores. PAN is duly furnished by the buyer and seller to each other with respect to all the transactions.
latest answer
Perfect answer.
Akash Soni
CA Inter
★ 5K+
5
725
Process costing
Costing
answered on 24-Apr-24 08:52
Can anyone please prepare process account for this question? While I was trying it's not matching.
latest answer
The question is asking for conversion cost per equivalent unit. Not the final cost of production. However you have taken the cost of opening stock wip as well in your working
Sairam Reddy
CA Final
★ 10K+
4
350
Audit of F/S - Share capital
Auditing
answered on 21-Apr-24 21:39
Mam in disclosure we need to disclose shares issued as bonus in last 5 years My doubt F/s are prepared on 31/3/2020 Bonus shares were issued on 1/2/2015 As five from date of issue is 1/2/2020 So do we need to disclose now I.e on 31/3/2020
latest answer
Bonus issued in FY 14-15 So 5 years 14-15 15-16 16-17 17-18 18-19 These will be reported only upto 31-3-2019 Not after that
lohith perumalla
CA Inter
★ 8K+
1
326
Reclassification of financial instruments
Financial Reporting
answered on 21-Apr-24 19:14
Sir Reclassification from FVTOCI to Amortization cost method, we will adjust the cumulative OCI balance to Fair value on the date of reclassification and From there onwards Amortisation schedule will be prepared from new Effective interest rate or will we use the old amortisation schedule ?
latest answer
For reclassifications from FVTOCI to amortised cost, the financial asset is transferred at fair value, but amounts accumulated in other comprehensive income are derecognised with an offsetting entry to the financial asset’s new carrying amount (i.e., the new carrying amount is treated as though it had always been classified at amortised cost). So existing rate.
M Naresh
CA Final
★ 3K+
1
254
Capital structure
Financial Management
answered on 23-Apr-24 15:50
In this sum the mentioned it as Vf then why it is considered it as Ve If we take it is Vf then 350 will be the EBIT Please explain
latest answer
Could you please be clear and specific in asking the question
Sruthi sruthi
CMA Inter
★ 640
1
277
Marginal costing
Costing
answered on 21-Apr-24 17:39
Pls solve anyone in marginal costing pls anyone
latest answer
Okay got it, answer did small error while caluclating, but pls answer if i ask doubts because iam self learning student pls,
Bhuvan Bhaskar
CMA Inter
★ 2K+
1
350
IND AS116
Financial Reporting
answered on 21-Apr-24 19:14
Sir in leases if question did not tell about payment date like beginning or end what we generally take
latest answer
End.
Ravi Teja
CA Final
★ 20
1
232
Unlisted company issues
Corporate & Other Laws
answered on 22-Apr-24 09:18
How unlisted companies issue securities without listed in stock exchange? In previous videos you said 'a company cannot issue any securities without listed in stock exchange'.
latest answer
An unlisted security is a financial instrument that is not traded on a formal exchange because it does not meet listing requirements. Trading of unlisted securities is done on the over-the-counter (OTC) market and they are often called OTC securities, market makers, or dealers
Ajaykumar Parit
CA Inter
★ 815
1
355
Sale of goods act
Corporate & Other Laws
answered on 21-Apr-24 17:37
What is a symbolic delivery...?
latest answer
It is a type of delivery where something is given as a token of delivery and it will constitute delivery of the goods. For example, in case of sale of car the keys of the car are given as delivery which is a symbolic delivery.
Hitesh Kumar
CA Foundation
★ 0
1
178