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AS-11
Accountancy
answered on 13-Nov-24 19:20
Can anyone explain the depreciation part in this question
latest answer
The cost has not been given directly. It has been implicitly given as 3000L since the Loan was for 3000L, and the PPE was fully financed by the Loan Then we add the exchange loss to cost of PPE because they've exercised the option to capitalise exchange differences arising from a Long Term Monetary Item, which amounts to 100L Depreciation is thus calculated on 3100L
Gokul N. K
CA Inter
★ 0
1
448
Best alternative
AFM
answered on 14-Nov-24 06:26
Is this view acceptable sir? I've solved it in a different perspective of which option reduces the least value for the acquirer
latest answer
Ok sir This perspective just struck my mind while seeing the illustration & that's why I asked Will solve it from the perspective that what is paid vs what is received w.r.t the target
Vigneshwar M
CA Final
★ 2K+
2
492
SPOM
Others
answered on 14-Nov-24 14:43
I have cleared my CA inter G1 in May'22, joined articleship on Feb'23 and cleared G1 under new scheme on Sep'24 May I know what are SPOMs are applicable for me ?
latest answer
You have written 6 subjects hence all 4 SPOM are applicable.
Kishore Babu
CA Final
★ 8K+
6
513
Indian Origin
Direct Taxation
answered on 16-Nov-24 13:03
Grandparents not born in undivided India Relatives born in undivided India Indian Origin ? Cause relatives include parents & Indian Origin mean parents and grandparents if born in Undivided India
latest answer
A person is of Indian origin only if he or any of his parents or any of his grand parents are born in undivided India.
Sushmita Chowdhury
CA Inter
★ 2K+
3
485
Cost sheet
Costing
answered on 10-Dec-24 06:54
Will this item be included in cost sheet If yes,why?
latest answer
It will be considered for calculation of cost of sales. When I said 'not considered in cost sheet', I meant till Cost of Goods Sold. Interest is a period cost. Sorry for the ambiguity 😅
Monika T
CA Final
★ 7K+
3
463
Test
Financial Management
answered on 22-Nov-24 10:04
Sir , can you please send answer book I will recheck Because, there is no more time for enrolled course Due to my delivery and postpartum time I'm not prepared well For that I will write some other day So, answer book will available
latest answer
You can submit it later and it will be evaluated.
anju B
CA Inter
★ 21K+
1
433
S.32(1)(iia)
Direct Taxation
answered on 13-Nov-24 09:51
is additional depreciation allowed as deduction only in the year of acquisition of new plant or machinery (or) available in the subsequent years also?
latest answer
Only in year of acquisition
Girinath A
CA Inter
★ 765
1
404
Journal entry
Costing
answered on 27-Nov-24 15:42
Manufacturing overhead charged to production 77,200 My Ans:manufacturing overhead control A/C Dr 77200 To cost ledger control A/C. 77200 Icai material answer Work in progress control A/c Dr 77200 To manufacturing overhead control A/C 77,200 Why this differences sir?
latest answer
Charged to production means absorbed by production. So it should be Dr. WIP Cr Production OH Control Account. When you incur expenditure, the entry would be Dr. OH control Account Cr. cost Ledger Control Ac. It reflects the initial recording of manufacturing overheads into the cost system, not yet allocated to production.
Tamil Selvi
CA Inter
★ 0
1
243
Whether investment property
Financial Reporting
answered on 13-Nov-24 12:41
If there is building as well with the land, and use of it is not decided the purpose of it, will it still be investment property?
latest answer
Generally once the building is constructed, the usage will be determined. No one would construct a building just for sake of it. Where as in case of land, someone may buy land and hold it.
Manu Jacob
CA Final
★ 6K+
1
377
illustration 28 - business combinations
Financial Reporting
answered on 13-Nov-24 12:37
In this question, instead of using 33.33% at the time of finding net assets of Z, can't we take 100% of net assets and show the 66.67% as Non controlling interest using proportionate share of net assets, as we did in the case of other questions?
latest answer
You can think of it as we have acquired 33% of the business.
Ali S
CA Final
★ 8K+
2
373