Ca Foundation

answered on 12-Jul-23 07:28

What is meant by adjusted purchases ?

latest answer

There will be no closing stock given in trial balance as it's already there in purchase If at all closing stock is given in trial balance then PURCHASE=ADJUSTED PURCHASE

Atluri Tejasrisai

CA Inter

★ 205

7

901

Inventory

answered on 21-Jun-23 16:14

Please solve this

latest answer

Oo ok thank you

Rishita Agarwal

CA Inter

★ 3K+

7

338

Bill of exchange

answered on 18-Jun-23 13:27

To find discount allowed when accommodation bill is remitted

latest answer

Thanks

SRIHARI K U [XI-D]

CA Inter

★ 4K+

2

307

Partnership - sale to a company

answered on 19-Jun-23 09:53

In the question it is said that the firm has a sum due to ( owe) A's estate ( that means Due to Mr.A right ). If we calculate the total amount due to A will be 120000(20000*3 years *2 half yearly). I understand that 20000 is paid till only 31.12.2001. because on 1/1/2002. The firm is getting dissolved. But my question is Since they deduct 20000 from A's executor capital account . why the 120000 has not been added to Mr. A's executor account? Why are they deducting from the amount that was brought (capital)and earned(profits, goodwill shares ) in the firm by A? Capital amount is different from the amount the firm due to him ( kind of loan from A?). Pls kindly clarify.

latest answer

Due to A's estate means A's legal heir. After death if amount is not settled, interest is to be paid.

Deborah Susaiyappan

CA Inter

★ 8K+

2

354

Doubt in 2023 ca foundation final acounts problem

answered on 19-Jun-23 09:59

What do you mean by bank overdraft is secured against hypothecation of stock ? I have attached file . In this problem 6th adjustment i am having lot of confusion due to lengthy adjustment so make clear please. I didn't understand closing stock calculation in this problem. Closing stock answer is Rs 250000

latest answer

This is explained in the live revision session done last week https://www.youtube.com/live/8SvKvtIbUyM?feature=share&t=3017

Anil Raj

CA Foundation

★ 580

5

1K+

Doubt

answered on 19-Jun-23 09:59

I am not getting why share of new partner ie., Gyama Rs.50000 credited to only Beeta? In this problem. File i have attached. Y it is not shared among alpha and beeta?

latest answer

Pls share the complete question.

Anil Raj

CA Foundation

★ 580

2

244

Hire purchase

answered on 17-Jun-23 10:01

Is intrest suspense account is like an provision?

latest answer

No its just dummy account to park interest accumulated.

Snehashis Mohanty

CA Inter

★ 5

1

281

Accounting effect

answered on 19-Jun-23 10:00

Due to the bank closure, all the money was gone, but after a few years when the bank resumed its operations, the money was returned. What will be the accounting effect of this?

latest answer

When amount not recoverable, it is treated as loss. Subsequently when amount becomes recoverable, take it as a gain.

Jiya T

CA Inter

★ 10

3

248

Ledger of Subscription received in advance

answered on 16-Jun-23 23:51

Why is subscription received in advance on the debit side of subscription ledger account? Could you give an example with journal?

latest answer

Subscription To advance subscription

Areeb Hashmi

CA Foundation

★ 370

2

306

Cash flow statement

answered on 17-Jun-23 00:08

Need workings for Property plant and equipment

latest answer

New PPE purchasesed= 38L-32L= 6L --> Cash Outflow

ROTHS Gaming

CA Inter

★ 0

1

334