Accounting

answered on 21-Jun-23 17:31

If a vehicle is owned by a spouse and is used for a business, can it be included as an asset in the balance sheet?

latest answer

No, only expenses towards vehicle maintenance id any can be considered proportionate to its use in business

Jiya T

CA Inter

★ 10

1

264

Bonus shares

answered on 21-Jun-23 17:18

Bonus shares are issued on shares outstanding as on date of BONUS ISSUE OR Bonus shares are issued on shares outstanding as on date of DECLARATION of bonus issue by company Which of the above statement is correct.Also tell for right shares

latest answer

Bonus shares are issued on shares outstanding on the record date.

Krishnan K

CA Inter

★ 5K+

3

321

Hire purchase

answered on 20-Jun-23 23:00

Why the provision for depreciation is made?

latest answer

If you charge to depreciation acc directly, it would go to PL, how will you know total accumulated depreciation over lifetime. If it goes to provision account, you can apportion and allocate to assets

Snehashis Mohanty

CA Inter

★ 5

3

260

Hire purchase

answered on 20-Jun-23 21:39

Why the depriciation is gone to asste disposal ac?

latest answer

Its the portion of Depreciation on the disposed asset, its transferred to ascertain its portion separately so that gain/loss on disposal can be known

Snehashis Mohanty

CA Inter

★ 5

1

240

Accounting

answered on 20-Jun-23 21:52

When a fee payment is made on behalf of clients in a contract,It means that all fees and expenses are included in the contract. what will be the accounting effect? Let's say A given a contract to B for Rs. 50,000, and B made a fee payment of Rs. 15,000. What will be the accounting entry in the books of B for the Rs. 50,000 payment made by A and fees and expenses occured in this contract?

latest answer

if costs are contract included: A a/c dr: 50000 Contract a/c: 50000 Contract a/c dr: 15000 Fees a/c: 15000

Jiya T

CA Inter

★ 10

2

313

CA foundation June 23

answered on 21-Sep-23 20:27

Most expected questions in Accounts

latest answer

Do some scanner

Nakshathra Baiju

CA Inter

★ 1K+

4

380

brokerage on quoted price = investment accounting

answered on 19-Jun-23 09:13

purchased ₹120 cum intrest (117₹ deb + ₹3int) sold ₹105 ex intrest (₹105deb + ₹2int) why is brokerage paid on quoted price and not after calculating intrest ? it may happen that to avoid paying brokerage on interest, it can b quoted in ex intrest

latest answer

Calculate brokerage on Rs .121 and not on 120

Sushmita Chowdhury

CA Inter

★ 2K+

14

595

Disposal of short term investment

answered on 21-Jun-23 11:05

Does profit/loss from disposal of short term investment is considered as exceptional item or just considered as other income?

latest answer

Other income.

Atharv Sankliya

CA Final

★ 3K+

5

302

Chapter sale ca inter

answered on 24-Jun-23 09:39

G

latest answer

Individual module sale is live now.

R K

ACCA Skill

★ 9K+

4

259

AS 1 Disclosure of Accounting Policies

answered on 18-Jun-23 14:38

Why it does not amount to change in Accounting Policy?

latest answer

Okay Sir....Thank you

CYNOPHILE S

CA Inter

★ 925

2

385