Liquidation of companies

answered on 02-Apr-22 07:18

Sir in this question i can't understand why they stated it as loss bcoz it is the remaining fund after paying all other parties then how it be treated as loss

latest answer

Loss in comparison to the face value.

sriram kannan

CFA L1

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1

210

Proposed dividend in amalgamation

answered on 30-Mar-22 09:42

Why proposed divided not include at the time of incorporation of assets and liabilities in the books of purchasing company?

latest answer

Proposed dividend by Board cannot be distributed, only when AGM approves, dividend is declared and assured of receiving

Venkatesh .

CA Inter

★ 4K+

1

160

Sec.49 Calls on Shares

answered on 26-Mar-22 10:37

E.Shares (June) Nominal Value â?¹100 E.Shares (September) Nominal Value â?¹ 100 For both paid up is â?¹50.. Can they be treated as same class or not..

latest answer

Yes if calls are uniformly made

Swetha S

CA Inter

★ 15K+

1

260

Prospects

answered on 26-Mar-22 10:36

Can unlisted public company issue public offer?

latest answer

An unlisted company would apply to stock exchanges for listing and issue shares to public.

Varun Gupta

CA Inter

★ 1K+

2

212

CMA

answered on 29-Mar-22 13:11

Sir , is it mandatory to listen live skill training for June attempt ? If it is mandatory can we watch after the live ? When will be the Exam Notification?

latest answer

Exam notification is given by ICMAI. Skill Training is mandatory. Please find all the FAQs in the below link. https://icmai.in/upload/Students/FAQ_Skills_Training.pdf

M V Naresh

CA Final

★ 3K+

1

315

Registration

answered on 26-Mar-22 11:01

What does this section really means...can anybody please tell an example.. 1. Is it that the ITC used or claimed 2. When should this be paid? After selling that good only? 3. What about ITC reversal

latest answer

A registered person at the time of cancellation of registration shall pay ITC availed on inputs which are held in stock, ITC involved in the remaining useful life the capital goods in months. In case of inputs he has to pay higher of 1. ITC availed on inputs held in stock 2. Output tax that would have been payable if he sells the stock.

Christeena Ambel

CA Final

★ 220

9

273

Risk assessment and internal control SA 315

answered on 26-Mar-22 06:48

Can anyone explain simply to say briefly about the points terms- rely on internal controls

latest answer

Ok tq ð???

prasad B

CA Inter

★ 3K+

4

393

Negotiable instruments act

answered on 30-Mar-22 09:40

Can anyone tell the difference between Endorsement and negotiation with examples

latest answer

Sec 47- a promissory note, bill of exchange or a cheque which is payable to the bearer are negotiable by delivery subject to the provisions of sec 58 of the Act.

Lakki Kamu

CA Final

★ 4K+

4

237

CA Intermediate Accounts Chap: Profit/Loss Pre and Post Incorporation

answered on 25-Mar-22 19:00

Can someone help me with this? In CA Intermediate Group1 Accounts, Chapter 5: Profit/Loss Pre and Post Incorporation, in the illustration no.5, how do we compute Gross Profit?

latest answer

Gross Profit = Sales + Closing Inventory - Purchase including Inventory - Freight and Carriage

Evelin K.E

CA Inter

★ 0

10

216

Income from business

answered on 25-Mar-22 17:51

Penalty for GST delay is disallowed expenses or not ? How to treat it was?

latest answer

It is based on Circumstances , If it is like late filing fee etc it is allowable expenses, if the penalty is imposed due to Breach of law it's disallowed

Hemanth kumar Kumar

CA Inter

★ 720

1

167