Forums
Rectification of error
Accountancy
answered on 06-Aug-21 20:51
Explain this rectification
latest answer
When the cheque is received,the entry is Bank a/c dr To man mohan When the cheque got dishonoured, entry (above entry) should be reversed,then Man mohan a/c dr To bank a/c But they had debited sales returns instead of man mohan and hence sales returns to be credited Man mohan a/c dr To sales returns
Bhuvanesh Reddy
CA Inter
★ 7K+
5
717
Advance accounts amalgamation
Accountancy
answered on 06-Aug-21 13:56
While combining the b/s of after amalgamation why dont we merge the free reserve of the selling company? It is also form part of shareholders fund ?please clarify
latest answer
The identity of transferor company's reserves is kept intact in merger method where Share holders holding not less than 90% of the face value of the equity shares of the transferor company become equity shareholders of the transferee company by virtue of the amalgamation. But under purchase method The identity of the transferor company'es reserves except statutory reserves is not kept intact because the same shareholders might not continue
Bhavya Kumar
CA Final
★ 7K+
1
611
Consignment
Accountancy
answered on 06-Aug-21 12:36
In illustration 1, the inventory valuation has no insurance charge. But in the illustration 3, the inventory valuation has insurance. Which one is correct? Should we include the insurance cost or not in the inventory valuation?
latest answer
Ok ok, now I understood. Thank you bro.
Vijay K
CA Inter
★ 9K+
7
764
Capital Gains
Direct Taxation
answered on 09-Aug-21 10:25
What is the cost of acquisition for the land that is issued by the government for free of cost(sale of land that is issued by government what will be my cost) Can anyone help me with this??
latest answer
The fair market value is to verified on date when land is given by govt
vasabattula abhinav
CA Final
★ 85
6
632
Postal books
Accountancy
answered on 06-Aug-21 07:30
I have received one postal book which name is " the chartered accountant student monthly guide " from ICAI. I know a little bit about this but could anyone tell me about this book.
latest answer
Thank you brother
Vijay K
CA Inter
★ 9K+
3
699
Icai books
Others
answered on 06-Aug-21 17:46
Can I purchase only one subject icai material from icai website
latest answer
The student can have an overview of how to order under CDS at https://icai-cds.org/ICAIShop/help.jsp
Sairam Reddy
CA Final
★ 10K+
9
1K+
Depreciation
Accountancy
answered on 06-Aug-21 09:10
Mam/sir CAN you explain what is Amortization. with an laymen's language examples. Y I asked this question means I got confused from others told pls with clear example tell me
latest answer
Amortization is same as like depreciation and the only difference is that amortization is charged on intangible assets while the depreciation is charged on tangible assets. In simple amortization is charged on intangible assets
Balachandar S
CA Inter
★ 59K+
7
722
Income tax , Dividends
Direct Taxation
answered on 05-Aug-21 20:15
Sir , In case Of company distributing dividend . who is liable to pay tax Company or share holder ? I think shareholder at slab rates know sir? DDT have been deleted right ?
latest answer
Yes Taxable in the hands of share holder at normal rates.
M Naresh
CA Final
★ 3K+
1
607
Exceptions of law of demad
Economics
answered on 05-Aug-21 15:27
Difference between giffen goods and future expected price goods
latest answer
1. Giffen goods is a good which has no close substitute. Demand increases as the price increase. 2. If buyers expect that the price of the good will be increasing in the future, they create more demand today. Both are exceptions to the law of demand
Harshan Pothula
CA Foundation
★ 0
1
586
Conversion ipcc to ca inter new
Others
answered on 05-Aug-21 14:44
i have cleared ca ipcc grp 1 in nov 2018, and now i want to convert it to ca inter new syllabus so do i have to give all the 4 papers or just the 3 paper. If anyone here has done this could you help me by replying. Also i have scored 50 in cost & fm in grp 1.
latest answer
Okay Thank you.
Pankaj Mandlecha
CA Inter
★ 8K+
2
614