Forums
Closing value of investment
Accountancy
answered on 14-Feb-23 12:28
If a company purchase a share of x ltd at rs 100 and during the year another share is purchased at rs 90 , no sale is occur ,FIFO method is used by company, market value at the end is 94 rs What will be the carrying value of investment
latest answer
Ok understood
Atharv Sankliya
CA Final
★ 3K+
7
382
Total income
Direct Taxation
answered on 02-Feb-23 12:12
Here,how come we are including 4L-84k as income from other sources ,but no the purchase of painting from a registered dealer for inadequate consideration ?
latest answer
If it is purchased from a registered dealer, the transaction price is considered to be fair value.
SANSKRITI BADRI 2111339
CA Final
★ 4K+
5
464
Please tell is it composite or mixed supply in following case
Indirect Taxation
answered on 27-Jan-23 17:21
Qus 5
latest answer
Composite supply involves more than one goods and/ or services which are naturally bundled together. It will be taxed @ principal supply rate. Mixed Supply If it involves supply of more than one goods and / or services which are not naturally bundled together. It will be taxed wholly as supply of those goods which are liable to the highest rate of GST Tie shirt - not naturally bundled together - Mixed Supply TV warranty - naturally bundled together - Composite suppply Charger, headset & mobile - naturally bundled together - Composite supply Power bank & mobile - not naturally bundled together - Mixed Supply
Dhakshana Dhakshana
CFA L2
★ 18K+
5
570
Total income
Direct Taxation
answered on 26-Jan-23 18:22
To compute pgbp from the given info,why do we deduct 40k in respect of dep on books without doing 40k(wdv)-40k(dep) ,ie 0 and add that to pgbp?
latest answer
Only recorded under capital gains is they are sold and there is profit.
SANSKRITI BADRI 2111339
CA Final
★ 4K+
4
457
CA final
Others
answered on 28-Jan-23 09:38
I completed my IPCC this January, now if I register for CA final, am I eligible to write exams in May? I have completed my articleship.
latest answer
Ok
kunapareddy chaithanya
CA Foundation
★ 15
14
499
As 1
Accountancy
answered on 30-Jan-23 16:29
Can u explain the 2nd part of this illustration?
latest answer
After sales expenses - like warranty. the company does not want to create a provision for this.
Kamal Kumar
CA Inter
★ 7K+
1
416
Advance accounting inter grp 2
Accountancy
answered on 26-Jan-23 08:53
I need to know how they distribute tha purchase consideration, because our 85500 partly to be distributed as cash and partly share Illustration 6 in module 1 , may 2021 onwards
latest answer
The amount partly paid as cash is the balancing figure from the cash and bank account.
Keerthi Sck
CA Final
★ 565
1
470
Pre and post incorporation
Accountancy
answered on 26-Jan-23 08:22
I have one doubt in ill7 icai model of pre and post incorporation chapter adjustment 3 bad debts recovery 7000 added in bad debts of 91000+7000 why add 7000 of recovery ??
latest answer
Till the year 20X1, we had Rs.7000 as bad debts. During the year 20X1 we recovered the bad debts of Rs.7000, so it is considered as Income and shown on the income side. The question says "Bad Debts after Adjusting the recovered Bad Debts is Rs.91000". Before recovery total Bad Debts are Rs.98000. We have the bad debts till 20X1 before the recovery so it should also be in the Bad Debts total amount.
Kruthika Ramesh
CA Inter
★ 650
4
462
Verification process
Others
answered on 25-Jan-23 12:05
I have applied for verification process by paying prescribed fee through icai.After making payment blank page has been appeared and no confirmation mail received by me but amount got deducted. What shall I do now? Have to apply again for verification??
latest answer
try this call and verify them
Naveen Kumar
CA Final
★ 3K+
1
411
Importation of services from a related person in India
Indirect Taxation
answered on 25-Jan-23 10:10
Import of services from a related person or established located in India, without consideration in the course or furtherance of business . Whether this is treated as ' supply' or not !?
latest answer
Thank u
Sajeetha R
CA Final
★ 46K+
6
445