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Compound intrest problem
Maths & Stats
answered on 10-Sep-20 10:05
As we know intrest calculated by bank compoundly , but I have a question that if payer pay interest every year equal to their intrest amount than that intrest is not added to principle I think and payer pay equal intrest every year as simple intrest or it pay lesser intrest as if he pay some amount of principle with annual interest . Can you please answer my query ...
latest answer
Its not dependent on payment by payer but chargeable by lender......... compound means once the interest is due and not paid, interest is charged on interest where under simple even if interest is due but not paid, there is no interest charge on interest due
Shivam Vij
CA Foundation
★ 520
1
709
Journal Entry
Accountancy
answered on 09-Sep-20 23:09
Please write journal entry and explain given below transaction is of passbook at bank or cash book of account holder. "Dear bank User, ur A/cX111 - debited by Rs 1000 on 11 -8-2020."
latest answer
Generally we receive these type of messages mentioned above to the registered mobile numbers which are linked to bank accounts. This message indicates that the customer account is debited in bank books of accounts(passbook is a copy of account of customer in the bank). Customer deposits money in the bank, such money should be returned to the customer as on request of customer. From this it clearly depicts that the customer is creditor for bank So customer a/c will be of credit balance(deposited amount) in bank books if he draws money the liability of bank will be reduced. so, to reduce credit balance it will be debited such that the balance in bank account will be reduced. There are two types of account formats i) T shaped accounts ii) Running balance form of accounts The second type of accounts are used in banks which you can see in bank passbooks. Journal entry in the books of customer, Expense/Asset/Drawings a/c....Dr 1000 To Bank a/c. 1000 (Being expense/Asset/Drawings made through bank) Journal entry in the books of Bank, Customer a/c.... Dr. 1000 To cash a/c. 1000 ( Being cash drawn by customer) If the bank customer issues any cheque to his creditor and he presents such cheque on a later date NO ENTRY is required in the books of Bank customer, because it is already recorded on the transaction date. Hope it helps!!!
Hari Krishna
CA Foundation
★ 1K+
1
734
Exam
Exams
answered on 06-Oct-20 17:09
I'm applied for both group. Can I attend 2nd grp and any one of the first grp subject
latest answer
Yes.
ABHIJITH K
CA Final
★ 3K+
3
705
Supply - Disposal
Indirect Taxation
answered on 10-Sep-20 13:20
Hi team, as per GST the word DISPOSAL is refering to only capital asset and machinery or any disposal that has to be in a situation to be measurable in monetary terms? Because my query is that some disposals worthless and we cannot assign any value to it. Please make me clear
latest answer
Thank you sir.
ILLURU VISWESHWARA REDDY
CA Foundation
★ 40K+
7
713
Supply - License
Indirect Taxation
answered on 10-Sep-20 13:23
Hi team, please provide me some list of real time examples in reference to LICENSE as regards to supply
latest answer
Yes sir. THANK YOU
ILLURU VISWESHWARA REDDY
CA Foundation
★ 40K+
7
692
About illustrations
Others
answered on 09-Sep-20 19:51
Will you explain illustrations in the video classes or only concept theory only
latest answer
Thank you sir
Govardhan Muvvala
CA Inter
★ 9K+
3
596
Cut throat competition
Strategic Management
answered on 09-Sep-20 13:24
Meaning. Cut throat competition and intensity of competition
latest answer
Cut throat competition means that the competition among the rival firms are too high. Intensity of competition is the medium of measure of level of competition I.e., HIGH MODERATE LOW.
Nivetharaman Raman
CA Foundation
★ 11K+
1
1K+
Partnership Act sec 19 and 22
Corporate & Other Laws
answered on 09-Sep-20 16:08
If partner perform an Act beyond their implied authority but with in - The name of firm and The ordinary course of business Then it can bind the firm or not... Please answer ..
latest answer
Yes.
Shivam Vij
CA Foundation
★ 520
1
742
Flowchart
Information Systems
answered on 09-Sep-20 16:11
Please give guidelines to draw flowchart. Only pencil should be used. ? Defining variables should also be in pencil?
latest answer
Thank you sir
Rathi Vigneshwari
CA Final
★ 14K+
4
701
Average costs
Economics
answered on 10-Sep-20 13:04
I want to know what's the difference between average cost, average fixed cost, average variable cost and same with total cost, total fixed cost
latest answer
Thank you sir
Sampath B
CA Final
★ 21K+
2
703