Consolidated profit and loss account

asked 13 mins ago

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

latest answer

No answers yet!!

Safa Saleem

CA Inter

★ 4K+

0

1

same video repeating

asked 30 mins ago

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

latest answer

No answers yet!!

Sandesh

CA Inter

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0

6

Question

asked 1 day ago

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

latest answer

No answers yet!!

Shivashankar Jawai

CA Inter

★ 450

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26

Cash flow statement

answered 2 days ago

Financial management , study material of ICAI , On page 9.52 of module 2 , illustration 8, in cash flow statement, 50 lakh is subtracted as cash required for increase in stock. Please explain why it is subtracted , as also adjustment is done in making entry in profit and loss account of 420 lakhs of material consumed in year 3 .

latest answer

50 L is increase in stock. (In question they told that the closing stock is expected to go up by same amount as between year 1 and 2)(15L - 10L) Please refer working notes for material consumption (35% of sales)

Anirved Rahatgaonkar

CA Inter

★ 0

1

29

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

37

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

57

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

53

AS 10, revaluation reserve which method is proper ?

answered on 12-May-24 05:45

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

TO BE SPECIFIC ABOUT REVALUATION RESERVE Q7 = in solution where, net book value from 1/4/15 Q15 = 2nd box in solution Q16 = solution 4point

Sushmita Chowdhury

CA Inter

★ 710

3

43

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

51

GOODWILL OF PARTNERSHIP ACCOUNTS

answered on 07-May-24 15:44

Can we write goodwill table form as working notes in the exam ( like explained in the lecture ) instead of profit sacrificing ratio will we get marks for it ? or should I just write the same way given in module

latest answer

Yes

Vijaya Lakshmi Pojula

CA Foundation

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