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Insurance claims for loss of stock
Accountancy
answered on 03-Aug-21 20:28
Sir , If insured amt is less than insurable amt which means it is under insured and hence we have to apply average clause. but in this they r considering insurable amt as insurance claim even though it is under insured
latest answer
For calculating under insurance, we compare insured amount with insurable amount (not with actual loss). Here, insurable amount is missing, we are not given its details. So can't say whether average clause will be applicable or not. But yes, since loss amount is more than insurance cover, we can say claim shall be maximum upto 4.8L
anusha athikamsetty
CA Inter
★ 65
1
632
Consignment
Accountancy
answered on 04-Aug-21 07:10
Illustration - 1) Goods sent on consignment = 50,000 Packing charge (by consignor) = 1,000 Freight (by consignee) = 2,000 Rent (by consignee) = 500 Insurance (by consignee) = 300 Goods sold = 4/5th of 50,000 Sale amount = 55,000 The expense of rent and insurance of consignment is for full goods . But in the consignment to wye ledger account, the total expense for rent and insurance are deducted for the 4/5th sale of goods. Isn't it that we have to divide the expense of insurance and rent has to be divided equally with goods? Explain pls
latest answer
Fine
Vijay K
CA Inter
★ 9K+
4
705
ITC
Indirect Taxation
answered on 22-Aug-21 20:32
Can milk related companies claim ITC ?
latest answer
Tq sir
Deepak P
CA Inter
★ 580
8
591
Ratio
Financial Management
answered on 03-Aug-21 17:24
Debt=500000,how to find any other relevent thing to move forward in question
latest answer
Yes thank you I think current liabilities will not include in total debt
Manu Sharma
CMA Inter
★ 370
2
571
Account Current
Accountancy
answered on 05-Aug-21 18:01
W.r.t. product of balances method, will the day on which the bank statement is prepared be included for interest computation for the latest transaction? In IL modules, sir said that the logic was last day minus date of latest transaction plus 1. But in icai study material, it is different. Pls refer the image
latest answer
Ok mam. Thank you
Sibi Srinivasan
CA Final
★ 22K+
2
487
Gap difference
Exams
answered on 10-Nov-21 13:47
I didn't join ofce aftr articleship due wo exam does tht affect my future
latest answer
Make sure not to take up a job with high working hours as it will pose huge difficulty for clearing exams
Saloni
CA Final
★ 5
4
618
Income deemed to be received
Direct Taxation
answered on 03-Aug-21 13:32
They state Transferred balance in recognised provident fund is deemed to be received ,my doubt only the part of unrecognised provident fund is taxable or entire RPF amount is taxable
latest answer
Only the amount which is transferred from unrecognised PF to recognised PF
Santhosh Raj
CA Inter
★ 6K+
1
610
Attempt
Others
answered on 03-Aug-21 13:29
Does ca final attempt matters?
latest answer
yes
Saloni
CA Final
★ 5
1
613
Doubt
Indirect Taxation
answered on 03-Aug-21 19:38
Can you give some example for this intermediate production process as job work ....
latest answer
Thank u
Sri kanaga Varshini
CA Final
★ 3K+
2
640
Linear inequalities
Maths & Stats
answered on 03-Aug-21 19:01
Answer for this question sir
latest answer
Thank you!
Harshavardini K B
CA Inter
★ 6K+
2
590