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Capital and Revenue
Accountancy
answered on 26-Aug-20 14:00
If a petrol car is replaced with diesel engine for better economies. Let us say, Cost of petrol car = 5,00,000 Cost of diesel engine = 2,00,000 Now as usual we capitalise the cost of diesel engine to the car But if we sell the petrol engine which is removed the proceeds of such petrol engine how should we account for?? Whether it should be reduced from cost of diesel engine ?? Or The proceeds of petrol engine is recognised in p&l a/c as non-operating revenue?? Please clarify this for me...
latest answer
Ok, thank you mam!!!
VIJAYA SARADHI MAGANTI
CA Inter
★ 850
5
1K+
Bcr. Meeting
Others
answered on 25-Aug-20 19:17
Min no.of words I aa meeting are? I mean how long should a meeting be?
latest answer
A meeting should be of 25-30 min
lohita Prava
CA Final
★ 35
1
580
Consignment
Accountancy
answered on 25-Aug-20 16:04
When consignee accepts a bill we credit it to the consigne's a/c as " by bills receivable" what would happen when the bill is dishonoured? What entry would the consignor pass?
latest answer
OK. Thank you
lohita Prava
CA Final
★ 35
3
976
Declaration Form
Exams
answered on 25-Aug-20 12:54
Can I get my College Principal Signature on the declaration form? As I don't know any CA... Please answer the query
latest answer
I think you can if that's the college you attended for your last educational qualification
Sampath B
CA Final
★ 21K+
1
733
Partnership account
Accountancy
answered on 24-Aug-20 20:10
In paper5 only dissolution of partnership is applicable for nov20 exam.am I right? Or other topics also coverd?
latest answer
Paper 5(New syllabus): Dissolution of Partnership firm, including piecemeal distribution, Amalgamation, conversion into company, Sale to a company and issues relating to LLP. What the institute has suggested the portion applicable to the relevant attempt, only that will be applicable.
Vishwanath Tadur
CA Inter
★ 2K+
1
703
Statutory update
Direct Taxation
answered on 25-Aug-20 10:37
In income tax statutory update fr Nov 20 is it covered?
latest answer
Plse provide separately ...
Nivetharaman Raman
CA Foundation
★ 11K+
4
663
Partnership accounts
Accountancy
answered on 24-Aug-20 17:25
ICAI study material Unit 2 Practical ques 2 What they did for Joint life policy? Why the make in the assumpition?
latest answer
There is a Bank Overdraft of Rs.1,50,000. The Joint life policy is said to be surrendered for Rs.47,500 (which is equal to the amount in the Balance sheet). The assumption is that once the reduction given by Bank for Rs.75,000 is including the surrender value of the Joint life policy. The surrendered amount is Rs.47,500, the bank gave a reduction of Rs.27,500 and finally made the outstanding amount to Rs.75,000. Bank overdraft (30th Sept. X1) = Bank overdraft (31st March X1) - Bank reduction [Surrender value of Joint Life policy + Additional reduction allowed] Bank overdraft (30th Sept. X1) = 1,50,000 - 75,000 [47,500 + 27,500] Bank overdraft (30th Sept. X1) = 75,000.
Gomathi K
CA Final
★ 40K+
1
798
Enterprise risk management
Information Systems
answered on 25-Aug-20 15:36
Plse explain enterprise risk management?
latest answer
Available in videos
Nivetharaman Raman
CA Foundation
★ 11K+
1
621
Bearer plant in as-10
Accountancy
answered on 25-Aug-20 15:27
Let us consider, A plant is held such that the branches of the plant can be cut and sold as agricultural produce. It is grown with an intention to hold for 10yrs so that it will be giving produce through out the life. At the end of the life, the plant can also be cut and sold similarly like branches. Now here in this case can we consider this plant as bearer plant?? Please explain....
latest answer
Thank you Nithish, helped a lot!!!
VIJAYA SARADHI MAGANTI
CA Inter
★ 850
12
802
Alteration of profile photo
Exams
answered on 25-Aug-20 12:52
Can I change my photo on my profile details on ICAI
latest answer
OK. Thank you sir
lohita Prava
CA Final
★ 35
2
745