Forums
Investment account
Accountancy
answered on 24-Apr-22 19:24
If we Receive interim Dividend (Post acquisition)have to transfer to P&L or Investment account ,if P&L then Why ? Plz Explain.
latest answer
Tq
VV shetty
CA Inter
★ 5K+
5
372
GST
Indirect Taxation
answered on 24-Apr-22 21:55
Is GST 101st constitutional amendment or 122nd constitutional amendment?
latest answer
Ohh..
Nikhil Vasanth
CA Final
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4
501
Partnership , Valuation of goodwill illustration 11
Accountancy
answered on 26-Apr-22 15:16
Adjustments a and c. So here I didn't understand the adjustment Understood the depreciation part but why did they add. Even adjustments C so the abnormal items or loss by fire it shouldn't be considered in trading account but correctly debited to Profit and Loss account.
latest answer
Charge is always an expense. You are charged for XYZ services.
Sugam SM
CA Final
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9
515
Partnership
Accountancy
answered on 24-Apr-22 13:29
Will they give both old psr and new PSR in exam in order to account the goodwill as Sathya sir thought us the method in that way. So is it not necessary to learn all those sacrificing ratio gain ratio.
latest answer
Sir I think it's in admission section. Let me check
Sugam SM
CA Final
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6
522
MTPs Oct 2018
Corporate & Other Laws
answered on 24-Apr-22 16:33
Mr. Ram was employed as financer in "Swaraj Ltd" on the surety of his good conduct, given by Mr. Janak, a good friend of the director of the company. Mr. Ram was kept on the salary of Rs. 45,000 per month. After 3 years, the company went into losses and so company decided for the cost cutting by retrenching of many employees and reducing the salaries of the employees. Mr. Ram was also proposed either to quit the job or continued with the lower salary of Rs. 35,000 per month. He accepted and continued with the job. After few months, it was reported by accounts department of the company that Mr. Ram manipulated with the funds of the company. As per the provisions of the Indian Contract Act, 1872, analyse the legal positions of Mr. Janak, in the given situations: (i) Mr. Ram has manipulated the funds of the company since the time of his appointment. (i) Mr. Ram has manipulated the funds of the company since from few months before when he accepted to continue the job on lower salary. A. (i) In case where, Mr. Ram has manipulated the funds of the company since the time of His appointment. In this case Mr. Janak is liable as a surety for the loss suffered by the Swaraj Company due to manipulation of the funds by Mr. Ram during the three years of his service. ii) In case where, Mr. Ram has manipulated the funds of the company since from few months before when he accepted to continue the job on lower salary. In this case, variance in the terms of the contract (i.e., to work on lower salary) was made without surety's consent. For all the transactions taking place subsequent to such variance, shall discharge the surety for the loss suffered by the Swaraj company. In second Case why is surety discharged. Being a director of the company he would be aware of lowering the salary right?
latest answer
Okay. I had read the question wrongly. Thank you
Swetha S
CA Inter
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2
613
Nature of accounts transactions debit and credit
Accountancy
answered on 24-Apr-22 13:27
For instance I have purchased 50000 worth of goods of Mr Shankar. In my tally accounting software I enter this entry purchase entry 50000.. few days later I am going to pay this amount..1. if I passed the payment entry means if I wants to payable means which side it will show debit side are credit side and if I paid means which side it will show table credit side?? Please tell me
latest answer
Purchase ac To shankr In balance sheet purchase will under closing stock at asset side and Shankar will come under creditor head at liability side
MPR Sanjay Kumar
CA Inter
★ 530
1
382
Employee cost
Costing
answered on 25-Apr-22 13:58
Whether overtime payment and Abnormal idle time payment are also a part of employee cost?
latest answer
It is charged to Costing P&L A/c
Nivedha Balaji
CA Final
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4
380
Joint product costing
Costing
answered on 25-Apr-22 10:23
Practical qs no 2 a Here products are not further proceesed so sale revevnue taken as considering sales price per unit at split off point. But why joint cost are allocated based on NRV which is based on sale vale after further cost incurred ?
latest answer
Because question says so
Balaji R
CA Final
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1
629
B List Contributories- Liquidation of Companies- Advanced Accounting
Accountancy
answered on 24-Apr-22 07:39
Can anyone please explain to me that in the given question, how did the figure of â?¹50 is arrived at (in the last row in last column)? I am not able to get it.
latest answer
I've got this. Thanks for the attention anyways.
Pratik Badade
CA Final
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1
968
Cash flow statement
Accountancy
answered on 25-Apr-22 08:17
In this illustration 12, why they are adding the prov for depreciation amount to the value of plant and machinery
latest answer
The solution given in study material can be confusing. Follow the below steps 1. Transfer the cost of fixed asset sold to a separate account called "Fixed Asset-Disposal" Account Dr. FA Disposal A/c Cr. Fixed Asset Account 2. Transfer depreciation pertaining to fixed asset sold to FA disposal account Dr. Provision for Depreciation Cr. FA Disposal Account 3. Amount realised on sale Dr. Bank Cr. FA Disposal Account 4. Balancing figure will be gain or loss.
vs navin
CA Final
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11
492