Forums
AS-7
Accountancy
answered on 17-Apr-21 17:30
in the illustration (attached below) ,why the contract price was credited with 90+9. ? In video 4 AS -7 ,in the same illustration,the contract price was credited with reimbursable cost only(90000)
latest answer
The solution in the study material is incorrect When the outcome of a construction contract cannot be estimated reliably: (a) revenue should be recognised only to the extent of contract costs incurred of which recovery is probable; and (b) contract costs should be recognised as an expense in the period in which they are incurred Here is the correct solution attached
venkatesh sundharamoorthy
CA Final
★ 34K+
1
593
Overheads
Costing
answered on 17-Apr-21 16:02
Why add supplementary rate to cost sheet in below answer
latest answer
It depends on the question asked. When it is specifically asked in the question, supplementary rates are to be added to the cost sheet. If not, mere calculation would be sufficient.
OMKAR REDDY
CA Inter
★ 6K+
5
682
Rectification of errors
Accountancy
answered on 19-Apr-21 10:58
Can u clear the first entry
latest answer
I have already shared the correct entry with you
THARUN KUMAR EKAMBARAM
CA Foundation
★ 18K+
11
685
Doubt
Accountancy
answered on 17-Apr-21 10:04
Dr. Balance in bank current account means it is overdraft so it is to be shown under current liability but in this question, in ans key it is treated as like that of cr. Balance. Which is correct?
latest answer
S sir thank you
Sri kanaga Varshini
CA Final
★ 3K+
2
819
Investment account
Accountancy
answered on 17-Apr-21 08:58
How do we got the cost amt? Formula for the valuation of equity shares 615000*500000/750000 can any one tell the formla of this
latest answer
Tq u
Sandhya K
CA Inter
★ 5
3
704
RTP QUESTION DOUBT
Corporate & Other Laws
answered on 17-Apr-21 20:00
In this below question we can also refer to section 217 " right to retain out of sums received on principal account " right? But in key it stated sec 202 . Which is correct? Refer image below ..
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Thank u sir
Sri kanaga Varshini
CA Final
★ 3K+
4
672
Registration - Multiple place of business in a state
Indirect Taxation
answered on 16-Apr-21 18:54
If a person has 4 branches in Delhi and if he wishes to obtain separate registration, whether he can obtain separate registration for any 2 branches alone? Or should obtain for all the branches?
latest answer
Thank you sir
Nivedha Balaji
CA Final
★ 9K+
8
780
Appreciation of currency under capital gains
Direct Taxation
answered on 18-Apr-21 07:53
Hlo sir Rupee denominated bond Capital gain 5 th proviso to sec 48 non resident bought rupee denominated bond @$ 1000 appo â?¹ 75000 ($1=75)& at the time of redemption @ $2000 appo â?¹ 140000 ($1 =70 ) 75 to 70 --- â?¹5 appreciation ....there is no tax on the appreciation of currency...... while computation of capital gain.... Sale consideration::: 140000 Less :: cost of acquisition :::( 75000) Capital gain:: 65000 Is this computation is correct ??
latest answer
Thank u
Bharadwaj V
CA Inter
★ 15
2
692
Articleship
Others
answered on 16-Apr-21 15:04
Direct entry students compulsory to join articles after that they have to eligible for ca ipcc exam Any chance to write ipcc exam after articles registration
latest answer
If you are direct entry you need to complete prescribed articlesihp period before sitting for exams.
myla venkateswari
CMA Inter
★ 0
1
517
Indexation benifit
Direct Taxation
answered on 16-Apr-21 15:09
Is indexation benifit available for:::::: capital gain arising from the transfer of a long term capital asset like equity shares, unit of equity oriented fund, unit of business trust ,under sec112 A
latest answer
Thank u sir
Bharadwaj V
CA Inter
★ 15
2
646