MCQ

answered 2 days ago

How to compute solution for this?

latest answer

Okay Mam

Swetha S

CA Inter

★ 4K+

2

44

ICAI RTP MCQ 2024

answered 2 days ago

In this below question in ICAI RTP MCQ 2024, isn't Growmore Ltd the originator and MAC fin corp the investor? ICAI RTP answer is given as MAC Fin Corp to be the originator. Please clarify Sir.

latest answer

Thank you so much Sir. Got the doubt clarified.

Dheebhan Mahalingam T

CA Final

★ 20K+

2

49

LLP

answered 1 hr ago

Screenshot attached partners in LLP and partnership firm practicing CA Firms

latest answer

Only LLP's having company as a partner are disallowed, and LLP's having individuals or any other body corporate other than company is allowed

R Yashwanth Kumar

CA Final

★ 58K+

2

33

Ind as 116

asked on 25-Apr-24 04:31

Sir in lessor accounting while calculating interest rate implicit in lease. shall we consider Only residual guaranteed by lessee or include guaranteed by third party too

latest answer

No answers yet!!

Ravi Teja

CA Final

★ 20

0

16

Marginal costing

answered 2 days ago

M/s Alpha Ltd. manufactures a single product and has the following data for the year 2022: Selling price per unit 200 Direct material cost per unit 54 ₹40 Direct wages per unit 1,90,000 Fixed overheads Variable overheads 50% of direct wages 5% Trade discount M/s Alpha Ltd. approaches you as a qualified cost accountant and asks you to: 1. Advise the Profit Volume Ratio of the company. 2. Critically assess the Break-even Sales (in units and in ₹). 3. Evaluate the Margin of Safety (in and as % of sales). 4. Recommend the Net profit if sales are 10% and 20% above the Break-even Volume.

latest answer

Thank you sir

Sowmiga Chandrasekaran

CA Inter

★ 7K+

6

57

Internal reconstruction

answered on 24-Apr-24 23:17

Please tell me, meaning and correct treatment of of point 11 ? I have little bit confusion 😔

latest answer

Reconstruction a/c Dr. 12,500 To Bank a/c 12,500

Nakul Dixit

CA Inter

★ 3K+

1

30

Cash alternative where entity has a choice

asked on 24-Apr-24 21:47

Sir, Doubt 1 ) if cash option is cheaper at balance sheet date and entity provided for equity option. Do we need to provide the loss at every balance sheet date or we should only at settlement date. Doubt 2 ) in 16:29, You have accounted as SPB reserve A/c Dr 1350 , Bank 1350 for settling in cash where initially we accounted as equity. why we did not assume it as buy back and account it like . Share Based Payment reserve dr 1450 ( fair value on settlement ) to Bank cr 1350 ( cash we paid , i.e fair value of option ) to p and l cr 100 ( diff between cash and equity ) If we initially record at equity and later we change our mind by issuing cash settlement we need to assume it as Buyback and account accordingly.

latest answer

No answers yet!!

M V Naresh

CA Final

★ 3K+

0

21

Illustration 5 - query

asked on 24-Apr-24 20:04

sir in this sum the difference between Fair value of Liability and Equity is equity .i understood that is 40,000. it shall be expensed over the vesting period(restriction period ) of Equity shares know ( 3 years Given in question ) . why the equity portion 40,000 Rs spread over only 2 years of Cash equivalent Liability period ? why we should not consider for a period of 3 years ?

latest answer

No answers yet!!

M V Naresh

CA Final

★ 3K+

0

21

When agreed value of consideration is intrinsic value (₹30 in this example) of Y ltd. But it shows it at Face value (₹10)

answered on 24-Apr-24 22:04

In this example, when Yltd. Decides to show the purchase consideration at par value i.e. ₹10 per share, so in books we mentioned purchase consideration as 50,00,000 shares x ₹10 per share, but what about the rest portion of purchase consideration that Yltd.paid to X ltd but doesn't show in books that is rest ₹20 per share (₹30-₹10, agreed value -fave value)?

latest answer

Liquidators A/c Dr 8000000 To psc A/c 3000000 To Esc A/c 5000000 If premium is allowed then Liquidator a/c Dr. 18000000 To psc 3000000 To Esc 5000000 To securities premium 10000000

Garima Bhargava

CA Inter

★ 185

4

39

Final exam

answered 2 days ago

Sir, If I pass ca inter both groups in sep 2024 exam, when will be my first ca final attempt?

latest answer

Ok sir

Abhirami Mohan K

CA Inter

★ 0

4

51