Notes to Financial Statements

Question 1

in notes to financial statements, transfer means ?

Answer 1

in notes to financial statements, transfer means how much acc dep is reversed back
i.e
Acc dep Dr
Plant/Asset Cr

Question 2

if there is disposal during year and revaluation at end or year than what will go in transfer

Answer 2

only acc dep which is reversed not of disposal
Acc dep Dr
Plant/Asset Cr

Question 3

if revalution has occured in woking it does not means it is opening if revalution has not occured after calculation of Revalution because this depreciation is not reversed

reference lec 18 classwork

Question 4

While making note we write last revalued amount in opening balance

Question 5

Assets under construction / Advances / Capital work in progress all are same

&
Capital WIP is not the part of note but comes in subnote

Question 6

if question is silent then Addition and disposals are on 1st day of year

Question 7

Amount of R.S transfered to R.E every year is also called Incrimental Depriciation

Question 8

Assumption about change in accounting estimate

Answer 8

if accounting estimate changed on 1st day of year, during the year or it is said on last date of year , all three means year start