Amalgamation

answered 7 hrs ago

How the goodwill of the vendor company should be incorporated in the books of the purchasing company in both the cases in the assets and liabilities taken over journal entry

latest answer

You will calculate goodwill separately and incorporate. If you have any specific question, pls share.

Samuel Sundar

CA Inter

★ 2K+

1

18

REDEMPTION OF DEBENTURES

answered 7 hrs ago

WHEN ISSUING DEBENTURES AT PAR AND REDEEMING AT PREMIUM THE ENTRY WILL BE DEBENTURE APPLICATION A/C DR 1000 LOSS ON DEBENTURE AC DR 100 TO DEBENTURE A/C 1000 TO PROVISION FOR 100 PREMIUM ON REDEMPTION OF DEBENTURE A/C FROM WHERE DID THE ADDITIONAL AMOUT OF 100 CAME BECUASE AT ISSUE WE ARE ASKING FOR 1000 ONLY????

latest answer

We asked 1000 But we have to pay back 1100 So extra 100.

Prathmesh Sanjyot Kharul

CA Foundation

★ 5K+

2

47

Consolidated profit and loss account

answered 1 day ago

In solution of these question, why is "production expenses" shown under "cost of raw materials consumed"?

latest answer

Thank you

Safa Saleem

CA Inter

★ 4K+

2

39

same video repeating

answered 6 hrs ago

same video repeating in Framework for choosing Accounting Policies and Funtamental accounting suuptions

latest answer

Both are different videos. Please listen to the full video.

Sandesh

CA Inter

★ 0

1

37

Question

answered 5 hrs ago

I can't understand Q3 (b) pls explain it

latest answer

There is a gap in the solution. Will upload a fresh video. Cashflow expected in Year 4 & 5 is 100 each. Cash flow expected in year 6 is 50. So total cash flow is 250. Balance amount to be written off = 100 Y4 write off = 100/250 * 100 = 40 Y5 write off = 100/250 * 100 = 40 Y6 write off = 50/250 * 100 = 20

Shivashankar Jawai

CA Inter

★ 450

1

44

Premium on redemption of Preference Shares

answered on 14-May-24 11:16

Sir when we pay premium on redemption of Preference Shares and adjust it against profit and loss account. Should we debit in pl or deduct from pl reserve in R&S. Similar where to write off preliminary expenses.

latest answer

Profit & Loss account for both premium and also preliminary expenses.

Shrihitha Udupa

CA Inter

★ 170

1

43

AS 3 Cashflow Statement

answered on 15-May-24 17:15

For a financial institution, would a Loan taken be Financing activity? Would Interest paid on this also be Financing?

latest answer

Financing.

Vishnu

CA Inter

★ 21K+

2

61

Wrongly attempted question

answered on 15-May-24 17:16

Sir... I had wrongly attempted all question by mistake i had reasonable assurance that last question was right is there any chance for marking those question if iam at the stage of having a little mark for passing....... Please reply

latest answer

No problem. You will get marks for best 4 questions.

Visruth Vichu

CA Inter

★ 890

1

55

AS 10, revaluation reserve which method is proper ?

answered 5 hrs ago

Sir there are 2 ways one question is solved in sujjested answer different format is mentioned and in icai mat different format is mentioned

latest answer

both are acceptable and depends on the question.

Sushmita Chowdhury

CA Inter

★ 710

4

52

AS 12

answered on 09-May-24 09:10

If the asset is accounted for a nominal value of say ₹1 or ₹10 and the useful life is 10yrs, then what will be the amount of depreciation that will be charged for the useful life of the asset?

latest answer

Depreciation will not be charged as it is immaterial

Mahesh Ram

CA Inter

★ 0

1

57