if balance in share premium and capital reserve account is 20000 at the time of acquisition of subsidiary shares and 50000 at the time of consolidation.

so my question is that whether 30000 will be considered as capital profit or revenue profit under AS 21.

please reply as soon as possible
Thanks

Active Asset Inc. owns a freely transferable taxi operators License which it acquired on 1st Jan 2011 at a initial cost of $10000. the usefull life of license is 5 years (based on date it is valid for). The entity uses the SLM to ammortise the intangible. Such Liscences are frequently traded between operators. At the balancesheet date on 31 dec 2012 Govt. permitted increase in fixed Taxi Fares. Hence the Traded Values of Such a license was revaluedas $12000 . Required:
a. Journal Entries on 31st dec 2012 to reflect increase or decrease in carrying value on the revaluation of the operating license based on the credit values of the similar lisences.

b. Also what would be the resultant carrying value of the Intangible asset after the revaluation.?

XYZ Ltd. purchases a debt Instrument with 5 years remaining to maturity for its fair value of Rs.1000 (including transaction cost). The Instrument has principal Amount of Rs. 1250/- and carries fixed Intrest of 4.7% i.e. paid annually. XYZ Ltd. recognised Rs 58.75 as Intrest revenue each year. Comment on Management's action... M not able to get from which IAS/ IFRS this ques is....

Hi,

When we balance an account every month or on daily basis the balance may be excess debit or excess credit at closing.
For example i buy goods from suppliers and make payments and sometimes we make advance payments which results in debit balance.

My request for clarification is without recalculating the balance every time manually
Is there a logical formula with which i can get balance to carried down or brought down entries?This is required in excel spread sheet format.

1.
what is the meaning of trade investment ande non trade investment. In calculation of net assets and FMP for valuation of shares why non trade invesment and income from non trade investments are deducted.

2.
if in the blance sheet on investmetn is given Rs.100000/- then what should we assume whether Trade or Non Trade investment for calculation of Goodwill/shares ?

Urgently waiting for your reply.
My id abhipcc@rediffmail.com

Balance sheet as on 31/12/2005
asset side
Sundry debtors-Rs.40500

Adjustment:shares are to be valued subject to following adjustments.

A general reserve of 10% of total debtors after specific provision for doubtful debts, has been made fo the first time in 2005 accounts.

kindly explain me the effect of above adjustment in Future maintenable profits and in the net assets calculation.

Re-write the following sentances after filling up the blank space with appropriate words so as to convey the correct meaning:

(A) ____________ advise the central government on the formulation and implementation of accounting standard of India.
(B) ____________ are money held and assets to be received in fixed or determinable amounts of money.
(c) depreciation on fixed assets should be divided between pre-and post-incorporation period in the ratio of ________while preparing income statement.
(d) a company which controls another company by acquisition of majority of shares is know as_________.
(E) if the proposed divided is 20 percent, the percent of profit to be transferred to general reserve is ______ percent.

SIR/MADAM I HAV A PROBLEM THAT I HOPE U CAN SOLVE.

I AM A B.COM PROGRAMME STUDENT 1st YEAR FROM SCHOOL OF OPEN LEARNING.

THERE IS 1 QUESTION IN FINAL ACCOUNTS THAT SAYS SUNDRY DEBTORS INCLUDE 20,000 FROM Mr X.

AND ALSO IN THAT QUESTION THERE IS A STATEMENT THAT SUNDRY CREDITORS INCLUDE 20,000 FROM Mr Y.
PLEASE TELL ME WHAT TO DO.

ALSO I WANT PREVIOUS YEAR PAPERS OF B.COM PROGRAMME 1st YEAR OF SOL.
PLEASE HELP ME.

I got 59 marks in Accounts(Pcc) nov 2010 exams if iam sending letter to the secretary (Delhi)for the purpose of exemption(60Marks).My question is if i got confirmation from the authority in april 2011. But i am writing the Pcc 1st group exams in May 2011, how can i proceed with this information i.e there is no need inform any body?

i am working in small company

i have a query

we are purchasing something

party is giving us bill adding transportation charges with the ammount and then add VAT on the Total Amount

this bill is wrong or right

i want to know

For Exemple

purchase Amt 100000
Transpotation 3000
VAT on total 1030
total bill Amt 104030

this is correct bill or not tell me sir

because Vat is on Purchase and not on transportation

so on purchase amt 5% VAT is applicable

and then after applying Vat transportation charges will be applicable

right na sir

plz explain me