Forums
Average due date
Accountancy
answered on 16-May-23 15:24
What should I take for calculating due date, Date of drawing or date of acceptance??
latest answer
Date of drawing. However for sight bills, date of acceptance.
Jaswanth P
CA Inter
★ 3K+
1
338
Inventory and ppe in service industry
Accountancy
answered on 16-May-23 15:25
Inventory in service industry is consumed in rendering of service & Ppe in service industry is used in rendering of service Is this right??
latest answer
You can use it for understanding.
Atharv Sankliya
CA Final
★ 3K+
1
309
Partnership
Accountancy
answered on 14-May-23 10:18
Will investment allowance reserve be distributed among the partners?
latest answer
It will be distributed at retirement, death or dissolution
Nidhi S
CA Inter
★ 4K+
2
397
General
Accountancy
answered on 17-May-23 12:00
At what cases Assets and liabilities of the company are revalued
latest answer
These guidances are given by respective standards. For e.g PPE would be revalued if the entity follows revaluation model under AS-10. Similarly some liabilities which are carried at Fair value would be revalued.
Krishnan K
CA Inter
★ 5K+
1
362
Using SPR for Redemption of preference shares
Accountancy
answered on 14-May-23 14:17
When we can use Securities premium (SPR) balance for premium of redemption of pref shares (as point 4 of sec 52 of companies act 2013 says) then why do we always write off premium on redemption from p&L surplus or general reserve and never from SPR?
latest answer
Yea got it thanks :)
Garima Bhargava
CA Inter
★ 185
4
3K+
As 3 cash flow statement
Accountancy
answered on 16-May-23 15:28
Calculation of cash flow statement under indirect method,income tax payable op is 2000 and closing is 3000 and in p&l a/c tax paid was 3000 ,which amt to deducted in the calculation in the operating activities
latest answer
Opening 2000 is paid. So that will be the amount in cash flow.
bhagya sundar
CA Inter
★ 0
2
331
Branch Accounting - Dependent Branches - 13. Illustration - 4
Accountancy
answered on 17-May-23 12:03
In the above illustration it is given that goods are invoiced at 120% of cost and sold by branch at 150% of cost. But my doubt is when the branch sells at 150% of cost, doesn't that mean 150% of branch's cost (invoice price + branch's expenses). Kindly explain.
latest answer
Cost + 20% and Cost + 50% Since no other info is given it can be assumed to be the cost to HO. Else they would have given Invoice + 50%
Aswin Chandar
CA Final
★ 40K+
1
457
Inventories chapter
Accountancy
answered on 13-May-23 07:44
In inventories chapter, one of the problems you have calculated opening stock Rs 1643312 , while explaining this work you said to subtract 65750 - 16438 - 81000 we get1643312 as opening stock. But we don't get sir that much value. I have attached screenshot of that work . Please make it clear.
latest answer
Opening stock to be bal fig, you should do: closing stock+sales- grossprofit- purchases 1675000+65750-16438-81000=1643312
Anil Raj
CA Foundation
★ 580
5
387
Liquidation
Accountancy
answered on 12-May-23 11:33
In question 4.8 how are unsecured creditors calculated ,pls help with its calculation?
latest answer
My bad,didn't see the creditors
pradyumna hariramani
CA Inter
★ 290
2
391
Liquidation
Accountancy
answered on 12-May-23 12:10
In question 4.2 ,the surplus available is 8,05,150.In the calculation of surplus available(after the question ends)they have reduced from 8,07,000.Why have they added back 1,850?
latest answer
805150 is after deducting the collection charges
pradyumna hariramani
CA Inter
★ 290
4
374