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Guarantee Contracts
Corporate & Other Laws
answered on 11-Oct-21 14:15
In the first image below, it is explained that a surety can be sued even when the principal debtor has been omitted from being sued... And in the second image they say that surety is only liable in case of default in payment by the principal debtor... So there are contradictory statements in the module which I am unable to understand properly. P.S. : Both these statements are in the ICAI module, respectively on the page number 1.12 and 1.13.
latest answer
Ooh... Got it... Thank you so much sir :)
Aditya Mishra
CA Final
★ 2K+
3
530
Ratio analysis
Financial Management
answered on 09-Oct-21 14:05
How they find networth 2 lac??
latest answer
Common stock + Retained Earnings = NW
Sathiya Bama
CA Final
★ 24K+
1
542
Doubt in NPO
Accountancy
answered on 10-Oct-21 21:58
Please help me on solving attached question
latest answer
Thank you sir
Aarvi Shah
CA Foundation
★ 110
13
648
where is notes pdf?
Direct Taxation
answered on 13-Oct-21 14:59
Sir, Can you plz tell where is notes for AGGREGATION OF INCOME concept?
latest answer
1. In certain cases, some amounts are deemed to be income of the assessee under section 68, 69,69A etc. - These were covered in basic concepts notes. 2. All other concepts of Set off, carry forward of losses were covered in the above attached PDF. 3. Comprehensive coverage of the topic is covered in Additional illustrations.
ALDRIN G
CA Inter
★ 12K+
3
676
Exam
Financial Management
answered on 09-Oct-21 12:41
Sir ,I know each and every SUMS and we'll prepared with formulas and concept except working capital and theories part And I didn't touch economics also Is it enough to score 40+
latest answer
Please prepare economics as well and also complete the pending chapter - no one can be sure what kind of questions they will ned up asking
venkatesh sundharamoorthy
CA Final
★ 34K+
1
517
Departmental accounts
Accountancy
answered on 11-Oct-21 14:59
If the question contains (marked )then wt it indiactes? Does it mean that don't take transfers while calculating g.p% please explain??
latest answer
Nothing much, just that separate transfer figures help us in calculating stock reserve (Unrealised profit in stock of one department to whom transfers were made). In this paper, this is little tricky adjustment. It is similar to ICAI Illustration 7. But in ICAI illustration, shoes were being made out of leather supplied by finished leather department only. So, we would directly apply gp ratio to opening and closing stock. But here only some of ready made garment's requirement is met internally, rest is from usual market. So, you have to take an assumption how much of inter-department transfer material will be there in closing stock. I believe ratio of transfer to readymade department (5L) and purchases excl. transfer (1.5cr) by that department which comes out to be 3.33% can be taken as a fair assumption. So, for calculation of stock reserve, we will take stock value x 60% (as only 60% is dyed fabric) x 3.33% and then apply GP ratio on that. In ICAI illustration this 3.33% etc. was not relevant as entire material was received from other department so, basically we have 100% in that case. We should wait for ICAI suggested answers and understand how they have solved. Meanwhile, do look at above Illustration as mentioned. And practice similar question 4 in Practical Problems.
Lakki Kamu
CA Final
★ 4K+
1
651
Tax
Accountancy
answered on 09-Oct-21 17:07
What is the treatment of Tax paid in final account??
latest answer
Tax like GST if collected from customer and liability is pending to be paid, it will be Current liabilities, else if excess balance with us, its either short term advance or net off from current liabilities. Income Tax is deduction from PBT then PAT moved to Reserves & Surplus.
Dhakshana Dhakshana
CFA L2
★ 18K+
2
435
Comapny act
Corporate & Other Laws
answered on 09-Oct-21 13:11
The registrar shall on application register such person or association of persons as a company under this sec tion. Explain the meaning of this
latest answer
Yes
Rakesh Shah
CA Final
★ 5K+
3
480
Notes
Financial Management
answered on 09-Oct-21 10:02
Please Any one can share photos regarding leverages chapter because my notes was gone
latest answer
Illustration solutions
OMKAR REDDY
CA Inter
★ 6K+
3
585
cds portal
Others
answered on 12-Oct-21 07:09
any one placed the order on cds portal in the last 2 to 3 days ?.......i am not able to place the order........i am trying from the last 3 days......i wrote a mail,,,,,,no response
latest answer
Raise a ticket using e-sahayata / ICAI Help desk
jsome jsome
CA Inter
★ 575
1
555