Financial Statements - Illustration 2

answered on 24-Apr-24 14:54

Hi Sir, As You were explaining about the Reissue of Forfeited Shares of above mentioned illustration, it is being mentioned in the Question that The reissue has been done at the Rs. 90, however, the face value of share is Rs. 100. Therefore, I request your kind self to explain about the legibility of Issuing forfeited share less than Face Value.

latest answer

Since its already issued and you have collected amount at time of first issue, it is allowed.

Aakash Raj

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Ca inter

answered on 21-Apr-24 19:18

Amalgmation page no13.78 in Q.13 while calculating capital employed ,effect of mutual owing has not been taken but in calculating net asset that effect is taken??

latest answer

Pls share the question as well.

Pooja Chavan

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74

Consolidated fS

answered on 21-Apr-24 19:18

How to treat preliminary expenses in the consolidated balance sheet.

latest answer

Write off.

Gayathri Nambiar

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Consolidation

answered on 22-Apr-24 09:43

In balance sheet b4 revaluation y u have considered loans and advances as assets General we use to assume it as liabilities only Kindly explain me plz

latest answer

Loan means the company has taken loan from bank, financial institutions etc. So it will be shown under liability. Loans & advances means it is given by company to subsidiaries, employees, financial institutions etc. which can be shown as asset in the balance sheet.

nive krish

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61

Debentures in Amalgamation

answered on 21-Apr-24 19:23

I am little confused when debenture arises in amalgamations.. can anyone say whether debentures shall include in purchase consideration ? And wherever the debentures shall include ?

latest answer

If debentures are given to shareholders - then part of purchase consideration If debentures are issued to settle the existing debenture holders - not a purchase consideration.

Jashvanth.K

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63

Whether to complete all AS SERIES once then move to other chapters?

answered on 21-Apr-24 22:30

Sir Whether to complete all AS SERIES once then move to other chapters?

latest answer

Sure Sir,, Thank you..!

GOKUL KOLATE

CA Inter

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As 1

answered on 22-Apr-24 15:26

What is the context of ICD here…what does that mean What is non provision interest ? Can someone explain this qsn in simple language..

latest answer

ICD - Any amount received by a company from another company falls under the category of ICDs. These are unsecured short-term loans provided by one corporation to another Non provision interest - Company is not paying interest

Sushmita Chowdhury

CA Inter

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As1

answered on 03-May-24 11:12

If there is permanent reduction Then it should go to pl Why provision created ?

latest answer

here provision means that only.

Sushmita Chowdhury

CA Inter

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As1

answered on 18-Apr-24 19:09

How is profit reduced ? If cost is reduced then profit is increased

latest answer

Thank you…. U explain good

Sushmita Chowdhury

CA Inter

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80

Doubt

answered on 22-Apr-24 17:29

Can I skip branch accounts chapter alone? Is there any possibility of asking branch accounts in Mcq or compulsory question ?

latest answer

They can ask.

Swetha S

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