Forums
Why is not credit balance as per passbook ?
Accountancy
answered on 28-Aug-20 12:35
In Bank reconciliation statement chapter .. in illustration 5 .. I got -20,758 as my answer , so it will become "credit balance as per pass Book" but icai answer is " debit balance as per pass Book"..I'm confused. Please clearly explain
latest answer
It is wrongly stated to be debit balance as per pass book in the material. It should be Rs.20,758 Credit balance as per pass book and Debit balance as per Cash book.
Hari Krishna
CA Foundation
★ 1K+
1
705
Effective Rate of Interest
Financial Management
answered on 27-Aug-20 17:31
Can effective rate of interest formula be also applied in case of series of cash flow (regular/irregular) or it can be only used in case of single cash flow only?
latest answer
Ok
Deepak Gupta
CA Inter
★ 1K+
5
672
Watching lectures on other device
Others
answered on 27-Aug-20 15:36
I recently shifted from mobile to laptop to watch your classes . So the first time I logged into your website it said that u have shifted from one device to another and if u keep shifting from one device to another they will terminate my course . So is it safe if I use your website instead of app to watch your lectures ?
latest answer
Forums are not available on website as of now. We shall be launching it in some time
Parikshit Rathod
CA Foundation
★ 710
3
701
Solution required
Costing
answered on 27-Aug-20 16:43
Dear sir, Cost and management accounting solution is not given in note. I requested to send the solution for all chapters illustrations.
latest answer
Ok sir. Thank you
Lavanya. M
CA Inter
★ 7K+
2
789
Amalgamation of companies
Accountancy
answered on 27-Aug-20 12:57
Ill 9(ICAI study material) Adjustment 4 Why they do for this journal enry?
latest answer
Mutual owing are cancelled as P Ltd and Q Ltd are amalgamating into 1 company. The liquidation expenses of P Ltd paid by Q Ltd is over and above the consideration payable to Q Ltd. It is treated as Goodwill. As we have capital reserve balance, it is adjusted with Goodwill, to get the net effect of amalgamation.
Gomathi K
CA Final
★ 40K+
1
680
Video is not playing in firefox
Auditing
answered on 27-Aug-20 14:12
I don't know why my video is not playing in laptop
latest answer
send email to support@indigolearn.com
Deepak Thinu
CA Inter
★ 390
1
706
Depreciation
Accountancy
answered on 27-Aug-20 16:36
Is provision for depreciation is current liability? In case it is current liability then what is the reason
latest answer
Under classification of accounts there are i) personal a/c's ii) Real a/c's iii) Nominal a/c's iv) valuation a/c's Here your doubt is about valuation a/c's These are the accounts which are created to show assets or liabilities at their original values (for clear presentation of financial statements). These accounts doesn't have any nature of assets or liabilities but they are just opposite to their original or source accounts (in terms of posting entries like debit and credit). Examples are prov for dep, prov for bad and doubtful debts, reserve for creditors etc., If clearly shows what is the cost at which it is purchased and accumulated depreciation details.... Hope it helps!!!
Akshay jerry
CA Inter
★ 10
2
1K+
Taxation
Direct Taxation
answered on 27-Aug-20 14:12
A company which have not started production but made fixed deposit in banks on which it have received interest as per accounts can the interest earned can be reduced from preliminary and preoperative expensive and For Income tax purpose what is it treatment will it be taxable in the assessment year even there is no business income. If it is taxable under which hear IFOS or Business Income.
latest answer
Yes.
sundesh kumar
CA Inter
★ 7K+
3
663
Banking co.
Accountancy
answered on 26-Aug-20 22:01
How come the fixed asset is added with the depreciation amount in this problem ?
latest answer
The closing balance of the asset is 70.12(cost given in question) and the depreciation thereof is 0.78 which makes the opening balance 70.9 Thus Fixed asset balance in balance sheet(in Solution) 70.12 + 155.7 = 225.82
anamika vardhan
CA Inter
★ 1K+
3
674
Accounting standard-4
Accountancy
answered on 27-Aug-20 06:18
How proposed dividend should be disclosed ?
latest answer
As per the Ministry of Corporate Affairs Notification dated 6th April 2016, regarding Amended Schedule III to Companies Act 2013, in lieu of amendment in AS 4 by ICAI, the treatment of Proposed dividend in the Balance Sheet of a company prepared as per Schedule III of the Companies Act shall be a Contingency - Events Occurring after the Balance Sheet Date. As per the amendment made in Accounting Standard 4, dividend proposed for a year is not a liability till it has been approved by the shareholders. Thus, proposed dividend is not shown as a short-term provision in the current Balance Sheet of a company but disclosed in Notes to Accounts. under Contingent Liabilities.
anamika vardhan
CA Inter
★ 1K+
1
2K+