Forums
Sale of Goods Act
Accountancy
answered on 02-Jun-23 08:46
Risk prima facie passes with ownership. Explain. The person who owns the goods will be the person who'll be held responsible for the losses/damages suffered, in the case where the goods are transferred to the buyer- he would be responsible for for the same. Right?
latest answer
Risk follows Ownership But always this statement is not correct it is having some exceptions Incase of default done by party irrespective of ownership the defaulted party is liable
Nidhi S
CA Inter
★ 4K+
4
511
Average Due Date - Selection of Base Date
Accountancy
answered on 31-May-23 19:50
Can we use any date convenient for us as the base date?
latest answer
Yes. Generally earliest date is takenn
Vishnu Muraleedharan
CA Final
★ 32K+
1
491
Consignment
Accountancy
answered on 31-May-23 10:18
How to calculate the value of closing stock
latest answer
Its already given. What is the doubt?
Shruthi Nachammai
CA Inter
★ 4K+
1
465
Inventory Valuation
Accountancy
answered on 30-May-23 22:39
What is Inventory Taking
latest answer
Inventory taking is the process of counting the amount of inventory owned by a business. It is the physical verification of the quantities and condition of items held by the business entity.
Rohan Kumar
CA Foundation
★ 5
2
396
Bills of exchange and promissory notes
Accountancy
answered on 21-Sep-23 20:29
If nothing is given in the question about the type of bill. Then it will be bill after date, after sight or at sight
latest answer
If nothing is given in the question Imagine after date
Rohan Kumar
CA Foundation
★ 5
2
411
Realisation account
Accountancy
answered on 30-May-23 19:55
Does company prepare realisation account during it's liquidation to close the books ?
latest answer
Statement of Affairs is prepared
Atharv Sankliya
CA Final
★ 3K+
3
430
Liquidator's final statement of account
Accountancy
answered on 30-May-23 09:12
Does liquidator's final statement of account considered as part of financial books of accounts And does the balance of all. The assets and liabilities are transferred to this account?
latest answer
Yes
Atharv Sankliya
CA Final
★ 3K+
1
812
Accounts
Accountancy
answered on 30-May-23 09:13
What is the formula to arrive at invoice price from cost price?
latest answer
Ok
Nidhi S
CA Inter
★ 4K+
4
494
Expense related to next accounting year
Accountancy
answered on 29-May-23 08:30
In which year (current or next accounting year) the expense related to the sale of next year is recorded Like if a company advertise for its products which is to be launched next year?
latest answer
Revenue cannot be directly attributed to advertisements.
Atharv Sankliya
CA Final
★ 3K+
10
446
Asset Fully Depreciated but it is still useful,
Accountancy
answered on 30-May-23 10:19
Sir, An asset which is fully depreciated in the books ,but it can be used still in the business. In such a case ,do we have to to show again this asset in our books, if so what should be the entry to bring asset again into our books of accounts. . For Example an asset of Rs10000 (use full life is 5 years) yearly depreciation is Rs.2000.00. By the end of 5th year that asset will not be in our books. But it can be used for 3 more years. So how to show this in our books. Please guide me sir.
latest answer
Under cost model (an accounting method) the asset is carried at its cost less accumulated depreciation
Thankachan Jimmy
CMA Inter
★ 0
5
709