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Purchase book
Accountancy
answered on 10-Jun-25 11:50
While doing purchase book is it necessary to make freight charges,trade discount column
latest answer
Just basic questions from Study Mat are enough.
Gurukanta Singh
CA Foundation
★ 15K+
3
129
BRS doubt
Accountancy
answered on 01-Jun-25 10:22
Why the overdraft balance as per pass book is not minus amount, other platforms answer take it as minus but not the icai module and answers are different. What to do?
latest answer
If final answer is matched you will get marks
Ashta Sharma
CA Foundation
★ 5
3
92
Illustration 7
Accountancy
answered on 23-May-25 13:15
Bottom Ltd. entered into a sale deed for its immovable property before the end of the year. But registration was done with registrar subsequent to Balance Sheet date. But before finalization, is it possible to recognise the sale and the gain at the Balance Sheet date? Give your view with reasons. Revenue is the inflow of cash from sale of goods/serves/interest/dividend/royalties. Isn't immovable Property fixed asset?
latest answer
Yes - its an item of PPE However to determine whether control is passed or not we use references to AS-9.
V V
CA Inter
★ 3K+
1
85
Preparation of statement of profit and loss and balance sheet
Accountancy
answered on 19-May-25 12:22
Can anybody please explain point no 5 and 6 regarding Treatment of provision for bad debts in trade receivables
latest answer
Out of 25,000 only 25% is recoverable. Remaining 75% is bad debt. For other receivables make a provision of 2%
JAI AKASH
CMA Inter
★ 0
1
116
Accounting standards
Accountancy
answered on 19-May-25 12:22
Sir can u please explain this point Applicabilty
latest answer
For company form of organisation, MCA notifies Accounting Standards For other than company, it is notified by ICAI. I have covered this aspect in video.
Leela Sowmya
CA Inter
★ 0
1
125
p&l of subsidiary inclusion
Accountancy
answered on 12-May-25 15:38
sir, we actually won't take subsidiary's p&l bal. while preparing consolidated balance sheet right? then why are we including it here?
latest answer
ok sir, thank you
Pooja Sree
CA Inter
★ 25
3
94
Esop
Accountancy
answered on 11-May-25 06:39
Is esop there in ca inter syllabus
latest answer
No
Sushmita Chowdhury
CA Inter
★ 2K+
1
118
Question 2
Accountancy
answered on 12-May-25 12:17
Can you please let me know how the statement of PL looks like? Tax Expense for each year should be equal to the tax on the accounting income, right? Accounting Income on the 2nd and the 3rd year will be Rs 52000 and 57000 ( 15000*35% and 150000*38%). Current Tax and Deferred Tax in the 2nd and the 3rd Year adds to Rs 57500 and 62500. Even if the flat 40% is applied, it will be Rs 60000 in each year. Current Tax+Deferred Tax will not equal to Rs 60K as Tax Expense. This is for the question 2 of AS 22- Taxes on Income. Question is If in Illustration 1, the substantively enacted tax rates for 2011, 2012 and 2013 are 40%, 35% and 38% respectively, how will be the amount of deferred tax liability computed.. Illustration 1 is below- FY ending every year 31st March 1.04.2001: Purchase of machinery Rs 150,000 Useful life 3 years Expected scrap value Zero IT depreciation 100% - year 1 Accounting depreciation SLM Profit before depreciation and taxes (each year) Rs 200,000 Corporate tax rate 40%
latest answer
Firstly, Tax expense is not necessarily equal to Tax rate x Accounting income. The reason is that some differences are permanent. Also for other differences the tax rates might be different in earlier year- so when we account in current year for differences, the effective rate would be different.
V V
CA Inter
★ 3K+
1
107
revaluation reserve and bonus
Accountancy
answered on 23-May-25 14:30
sir in the last part of the video you say bonus will treated like abnormal if already accounted. but in the previous one you said no adjustment required. so what should we assume if the ques gives no clear info about bonus being deducted from pre or post but only says its accounted for? also if revaluation reserve is already existing in the BS ie. revaluation is already carried out by the subsidiary, should it also be treated like abnormal items?
latest answer
ok sir thank you
Pooja Sree
CA Inter
★ 25
5
108
Contingent liability & assets
Accountancy
answered on 10-May-25 15:35
How is this a contingent asset?
latest answer
Ok sir
Asmita Kar
CA Foundation
★ 7K+
4
110