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Negotiable instrument
Corporate & Other Laws
answered on 08-Sep-21 06:48
Explain-Partial indorsement Also give one examle
latest answer
Ok...tnq mam...
Gomathi K
CA Final
★ 40K+
4
609
salary - Dearness allowance - illustration 4 and illustration 6
Direct Taxation
answered on 07-Sep-21 11:38
illustration 4 Da is 20% of basic salary and 60% forms part of salary In average salary computation the basic pay was 644000 and da was calculated as (644000*20% ) * 60% sir told 20% of basic salary is da out of which we are taking only 60% for avg salary calculations But in illustartion 6 where question says da is 120% of basic salary and 40% forms part of salary here for avg salary, da was calculated just as basic salary 97000* 40% only My question is why da is not calculated as 97000* 120% * 40% just like illustration 4
latest answer
yes
Vijay Ramesh
CA Final
★ 985
3
803
BRS
Accountancy
answered on 14-Sep-21 13:27
Pls tell me what does this question mean and wat shd I do ??sub Question 6 ) only
latest answer
Practically, when we deposit cheque received from our customer with our bank, we will increase bank balance as per cash book. Bank account is also credited in Pass book (and it is subject to clearance). But here later, the cheque returned from the bank to whom our bank had sent for collection, so our bank reversed the entry and made a debit of Rs. 3,500. In short, in pass book they first made a credit and then debit i.e. zero effect. But in cash book, we had increased bank balance. This means cash book balance is more by Rs. 3,500. In this particular question, we need to increase overdraft balance further. Hope this clarifies.
Reetikaa R
CA Final
★ 7K+
4
592
Merger
Accountancy
answered on 07-Sep-21 09:57
Does purchasing company take over intangible assets as well or are they written off?
latest answer
usually its taken over unless given in adjustments to write off, if nothing mentioned take over and write a note after answer saying as nothing was mentioned regarding intangible assets assumed that purchasing co. has taken over. Don't assume reverse better to take it over. And goodwill/capital reserve arising out of amalgamation is shown in asset/reserves and surplus
Aman Mahajan
CA Final
★ 19K+
1
453
Articles of association
Corporate & Other Laws
answered on 07-Sep-21 11:12
These points are not explained in videos,, So PLEASE explain in a shortcut..
latest answer
We know Companies Act has given model articles for different types of companies. Point 6 says, for any company that is registered after commencement of Act, the provisions contained in model articles would apply if they have not been excluded or modified by company in their articles. Example, say companies articles don't mention anything about interim dividend or don't put any condition specifically on it, so in that case provisions about it as contained in model articles will apply, assuming they are part of actual articles of company. Point 7, says about non-applicability of this section on articles of company registered under previous laws.
tejeswar choudhury
CA Inter
★ 130
1
479
Doubt
Auditing
answered on 07-Sep-21 16:17
For answering this question is it necessary to write all points of "elements of control environment" ?
latest answer
Ok mam thank you
Sri kanaga Varshini
CA Final
★ 3K+
2
463
Home liability or asset
Accountancy
answered on 07-Sep-21 00:01
Personal home is liability or asset and why
latest answer
As we prepare final accounts only for the business... Personal home is a liability... because Personal home is proprietary assets and in business it should be considered as liability
Harsh sharma
CMA Inter
★ 55
4
553
Interest on drawings
Accountancy
answered on 06-Sep-21 16:08
In the firm's point of view, the capital employed by the owner is like a liability. So that the firm is paying interest on the capital to the owner. If we take some money from the firm, it is written as drawings. Drawings is like we are taking our money right. Then why we have to pay the interest on drawings to the firm's? And thank you for your kind help.
latest answer
All the best ! Keep revising on regular basis and also clear all your basics and fundamentals at foundation level so that at later intermediate and final level these doubts will not come and you will understand better
Vijay K
CA Inter
★ 9K+
3
716
Rectification of errors
Accountancy
answered on 14-Sep-21 14:01
In sub question 6 , why p&l adjustment is not debited with 1000 ,y only gain on sale is debited??
latest answer
Sale or return basis, we have a separate module on that with Illustrations. Here, I hope above answer clarifies.
Reetikaa R
CA Final
★ 7K+
5
759
Sale of Goods Act, 1930
Corporate & Other Laws
answered on 07-Sep-21 11:06
Here in this question highlighted in the image, J, the principal orders his agent P to sell his( J ) car for a price not less than 50k. But, the agent has actually sold that at 40k as against the order. Law says that the buyer will get a good title to the car. But, J is not satisfied with the sale. Can J sue his agent P for breaking the order? If so, what are the remedies? Here in book, only the effects relating to the buyer is given. The question also provides that the agent has misappropriated the money. Please clear my doubt.
latest answer
Ok sir. Thank you
Sibi Srinivasan
CA Final
★ 22K+
2
555