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Partnership unit 2
Accountancy
answered on 22-Mar-21 16:18
In illustration 1 we found realisation profit by crediting excess amount and debiting deficit amount taken And then less provision realisation profit came . But in practice problem 1 they did it by calculating pc and and transfer it to realisation and found profit . But when I did practice problem in illustration 1 model revaluation profit answer is not matching with book . Please any one reply
latest answer
The difference is because of Goodwill which is dealt in separate working note in each problem. Once you do the entire sum in earlier method, the final balance sheet will be same. The same note is also given at the end of practice problem.
Enuguru Sai Nithin
CA Final
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6
665
Going concern
Accountancy
answered on 20-Mar-21 11:39
What is the answer of this question please anyone answer
latest answer
As per SA 570: Managementâ??s assessment of the entityâ??s ability to continue as a going concern involves making a judgment, at a particular point in time, about inherently uncertain future outcomes of events or conditions. The following factors are relevant to that judgment: â?¢ The degree of uncertainty associated with the outcome of an event or condition increases significantly the further into the future an event or condition or the outcome occurs. For that reason, most financial reporting frameworks that require an explicit management assessment specify the period for which management is required to take into account all available information. â?¢ The size and complexity of the entity, the nature and condition of its business and the degree to which it is affected by external factors affect the judgment regarding the outcome of events or conditions. â?¢ Any judgment about the future is based on information available at the time at which the judgment is made. Subsequent events may result in outcomes that are inconsistent with judgments that were reasonable at the time they were made.
Laxman kumar
CA Final
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Standards on auditing
Auditing
answered on 19-Mar-21 19:07
What is lower level of assurance? What video in auditing class explain lower level of assurance?
latest answer
Thank you
Tamil kaviya
CA Final
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2
607
Doubt
Accountancy
answered on 19-Mar-21 16:28
Can we write this as single entry...??? Bank a/c...dr P&L a/c.... dr To investment a/c Is there any benefit on Creating seperate account "Loss on sale of investment"????
latest answer
However as a matter of better practice, we do not debit P&L account directly in the source entry. Else at a later point in time, you will not be able to identify what is the loss on sale of investment in the entire year.
ALDRIN G
CA Inter
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2
628
Chapter 4 heads of income, unit 1 salaries
Direct Taxation
answered on 22-Mar-21 16:21
Sir, in this question, actually they what that mentioned , he had worked with the company for 20 years 11 month and 15 days but in your video classes you've take only for 20 years ,why you have been taken only for 20 years , sir can you please your answer
latest answer
Thank you so much mam
Subash Chandrabose
CA Final
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6
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Standards on auditing
Auditing
answered on 19-Mar-21 10:31
List the Important SAs for ca inter examination.
latest answer
All
sameer fahad
CA Final
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1
584
ITC
Indirect Taxation
answered on 22-Mar-21 16:30
Why is ITC not available for capital goods in this case?
latest answer
Section 18(1)(d) which states " The registered shall also be eligible to take Credit on capital goods exclusively used for such exempt Supply. Credit on capital goods shall be reduced by 5% for every quarter or part thereof, from the date of issue of invoice for the capital goods" But in the present case Babla Enterprises is an unregistered person..... and sec 18(1)(d) is only for registered persons.
Priyanka Udeshi
CFA L1
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4
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Competition
Economics
answered on 19-Mar-21 16:46
Can anyone explain this?
latest answer
Understood very clearly thank you sir :)
Meda Jeevansai
CA Final
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5
700
Audit of items of financial statements
Auditing
answered on 19-Mar-21 10:33
Is it necessary to be thorough with all disclosures with respect to this chapter sir?
latest answer
Yes
Mrulani Aravind
CA Inter
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1
634
REDEMPTION OF PREFERENCE SHARES
Accountancy
answered on 18-Mar-21 17:23
If shares are not fully paid up, company will redeem shares only when it is fully paid up but while forfeiting the shares they cancel it instead of reissuing since the redemption due in near future.......why does the same forfeiting concept does not apply when the shares are not fully paid up??
latest answer
It may so happen that company itself has not called up part money and hence, shares are not fully paid up. So, law says all calls must be made up and shares fully paid up before redemption. In case of forfeiture, it's the shareholder's default and hence shares are forfeited and cancelled.
GOKULA LAKSHMI
CA Final
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2
675