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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
509
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
462
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
727
Hire Purchase
Accountancy
answered on 02-Jun-23 22:12
In the question in the picture attached how is interest computation done ? They have mentioned in the (iii) as plus interest , it means 3,00,000 is exclusive of interest right ?
latest answer
Yes
sradha krishna sunil
CA Final
★ 5K+
2
490
Hire Purchase
Accountancy
answered on 26-May-23 14:35
Why is the instalment amount paid shown in the Happy A/c without separately adding interest in the question ? Is it because the instalment figure at the end of the year given ?
latest answer
Pls share the account that you are referring to.
sradha krishna sunil
CA Final
★ 5K+
1
483
Buy back
Accountancy
answered on 26-May-23 14:41
In buyback, In post debt equity test , Here debt means short term debt , long term debt , secured debt , unsecured debt and includes all current liabilities like creditors, bills payable etc.. Am I correct in definition of debt in this chapter
latest answer
All short term and long term debt. Only loan. Does not include current liabilities like creditors.
Krishnan K
CA Inter
★ 5K+
3
573
Sir is acca ca se easy hai difficult hai
Accountancy
answered on 26-May-23 14:37
Sir. Because one time me only one paper hi likhana rahta hai
latest answer
The papers are set at a difficulty level more or less comparable to that of CA. Also long form questions make it challenging.
R K
ACCA Skill
★ 9K+
3
529
AS7
Accountancy
answered on 25-May-23 11:25
In Example 3, without any information about the estimation of loss in the question. They have debited provisions for loss . Pls reason the above
latest answer
Out of total expected loss - 30 is recognised. Balance 20 needs to be recognised by way of provision.
Deborah Susaiyappan
CA Inter
★ 8K+
1
529
Abnormal loss in consignment
Accountancy
answered on 24-May-23 11:19
1- damage of inventory in transit is normal or abnormal loss 2- if fruits are perished does they are considered as normal loss or abnormal loss
latest answer
Every business has an average rate of normal loss. Beyond that it would be abnormal. goods like cycles lost intransit would be abnormal.
Anjali S
CA Inter
★ 0
5
600
Loss of goods in consignment
Accountancy
answered on 24-May-23 09:38
Risk and loss of goods in consignment business is borne by ? Which act deals with consignment business?.
latest answer
Incase of delcredere commission given to consignee.. It'll be borne by consignee Other wise consignor. Bailment and pledge chapter in indian contract act is relevant
Anjali S
CA Inter
★ 0
2
498