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

67

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

★ 22K+

2

92

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

77

AS 10, revaluation reserve which method is proper ?

answered on 20-May-24 15:24

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

★ 715

4

77

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

81

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

★ 2K+

1

90

Revenue recognition

answered on 03-May-24 07:45

Sir, if expenses are identified.we should provide in the current year..but it is given in the 3nd question that 36000 but we have to provide for 120000 sir..likewise in the 5th question sir..what is the correct answer sir

latest answer

Thank you so much..

shanthini hariharan

CA Inter

★ 6K+

2

69

As 7

answered on 01-May-24 21:41

Can you please explain how to solve qn 4 and 5 ?

latest answer

Thank you so much!

Ramya Sundar

CA Inter

★ 5K+

3

103

AS 15

answered on 03-May-24 11:10

Can someone explain this sum in simple terms

latest answer

which specific part.

Swetha S

CA Inter

★ 4K+

1

82

Branch accounts

answered on 01-May-24 21:15

In the stock and drs method, in stock adj a/c whether we should include the stock reserve of returned goods to HO ? Because in the ICAI module in the illustration they had included but not in the practice question. I attached the pic of the solutions

latest answer

Ohh okay, now I got where I made a mistake Thank you soo much sherli !!

Jashvanth.K

CA Inter

★ 9K+

4

90