Forums

framework

Accountancy

answered 4 hrs ago

30) why answer A ? what marginal cost mean ?

latest answer

like what is the diff between current cost n relaisable value

Sushmita Chowdhury

Sushmita Chowdhury

CA Inter

715

2

18

cash book

Accountancy

answered 1 day ago

If the received cheque is endorsed to the other part on the same day then what will be the journal entry

latest answer

Let's assume that Company A receives a cheque of ₹10,000 from Customer X and endorses this cheque to Supplier Y on the same day to settle a debt. Journal Entries: When the cheque is received from Customer X: Bank Account Dr. ₹10,000 To Customer X Account ₹10,000 (Being cheque received from Customer X) When the cheque is endorsed to Supplier Y: Supplier Y Account Dr. ₹10,000 To Bank Account ₹10,000 (Being cheque endorsed to Supplier Y) Or a combined entry Supplier Account Dr To customer Account.

Bharavi Kothari

Bharavi Kothari

CA Foundation

16K+

1

24

AS 10

Accountancy

answered 2 days ago

In the illustration no.18 the solution is stating to consider the gas required to push the gas out for sale as per AS 10.Here my doubt is as per AS 10 natural gas, mineral, oil wont be considered as PPE. So how they are treating as per AS 10?

latest answer

The cost of dead stock which is required to keep plant operational will be considered as PPE as without it the plant cannot be operated.

Niveta Rajkumar

Niveta Rajkumar

CA Inter

160

1

25

Difference of answers

Accountancy

answered 2 days ago

In video class illustration 6 and in notes illustration 1 FIRST LTD answer is different Which is the correct answer?

latest answer

Ok

Shivashankar Jawai

Shivashankar Jawai

CA Inter

560

2

31

AS-2

Accountancy

answered 2 days ago

Why cant i solve the illustration in the video like below sir cost = 1000*5000=5000000 less abnormal wastage=1000*50=50000 total cost of inventory=4950000 cost per unit=4950000/4750=1042 rs

latest answer

We should compute the normal rate first. i.e based on how much would be the number of units we normally receive.

Niveta Rajkumar

Niveta Rajkumar

CA Inter

160

1

42

Ind As 7 Cash Flow statements

Accountancy

answered on 14-Jun-24 09:38

In Image attached while doing Income from Operating activities in indirect method, we will do approprite changes considering changes in current assets ? In the given question I am thinking that we have to consider changes in Investments to as it is given in Current assets. but answer provided in ICAI material not considered (2nd picture), can anyone explain the same.

latest answer

https://youtu.be/BCujphqmx64?si=OI3p8TgYkrui8UsV&t=252 Logic and explanations covered here.

Sai Vema

Sai Vema

CA Final

106K+

2

50

DRR

Accountancy

answered on 14-Jun-24 14:00

WHAT IS DRR INVESTMENT? HOW IS IT CREATED

latest answer

No doubt

Bharavi Kothari

Bharavi Kothari

CA Foundation

16K+

1

46

Debentures

Accountancy

answered on 03-Jun-24 16:05

Debentures can be issue and redeem in India at discount? Also point out relevant legal section on this.

latest answer

The Companies Act, 2013, does not explicitly prohibit the issuance of debentures at a discount. However, it is essential to follow specific provisions and guidelines: Section 53: Prohibits the issuance of shares at a discount, but it does not directly apply to debentures. Section 71: Governs the issuance and redemption of debentures but does not explicitly address the issuance of debentures at a discount.

Shubham .shubham

Shubham .shubham

CA Inter

885

1

61

Illustration 1

Accountancy

answered on 27-May-24 15:59

How did 20,000 be taken as depreciation? Of 20X2

latest answer

20,000 is the revised carrying amount for the next 5 years. On this the depreciation is calculated by deducting the scrap value

Shivashankar Jawai

Shivashankar Jawai

CA Inter

560

3

93

Journal Entry

Accountancy

answered on 27-May-24 15:06

1.What is the journal entry should be passed for loss of stock in Tally? 2. What should be the closing stock entry of trading account?

latest answer

In tally you can directly update closing stock in value. No need to pass journal entry. So loss / gain is automatically captured.

Snehashis Mohanty

Snehashis Mohanty

CA Inter

5

2

77

CA Foundation - All the Best
CFA Webinar | Register Now
MCQs Now
CA Scholarship Available

CIN: U74999TG2017PTC116012 | GSTIN: 36AAECI4332C1Z0 | PAN: AAECI4332C

2024 IndigoLearn.com All Rights Reserved