Forums

Please answer

Accountancy

answered on 18-Mar-23 22:50

4 question

latest answer

Which part do you have a doubt?

Rajmani Kurmi

Rajmani Kurmi

CA Foundation

0

1

242

Can a company use different cost formula for different types inventory

Accountancy

answered on 18-Mar-23 22:52

Can a company use different cost formula for different types inventory like FIFO for some type of inventory and weighted average for some sort of inventory

latest answer

Yes if the characterstics are different.

Atharv Sankliya

Atharv Sankliya

CA Final

3K+

1

287

Company following AS

Accountancy

answered on 18-Mar-23 22:52

Can a company following AS follow ind as for the accounting treatment for which no AS is formulated

latest answer

Yes.

Atharv Sankliya

Atharv Sankliya

CA Final

3K+

1

253

Assets for rental income

Accountancy

answered on 20-Mar-23 09:49

A IT company(software) have assets like property cars etc to earn rental income so does it is considered as PPE or investment as it is qualifying defination of both

latest answer

Property, plant and equipment are tangible items that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than a period of twelve months. If a business rents out cars, it would be a part of its operations and hence classified as PPE. Earning rental from cars requires a good amount of operating expenses in terms of driver's salary, fuel etc. However in case of land & buildings (which are investment property), the degree of operations is much lesser.

Atharv Sankliya

Atharv Sankliya

CA Final

3K+

3

281

Branch acc

Accountancy

answered on 18-Mar-23 16:45

How can we take cash collections in debtors acc?

latest answer

Yes and no:) Actually, I have taken Face to face classes for group 1 and as of now i am just making use of 1Fin's free resources+free classes. But, even these free resources helps me a lot, so I would consider myself a 1Fin student.

Sugam SM

Sugam SM

CA Foundation

9K+

6

303

Branch acc

Accountancy

answered on 18-Mar-23 17:30

Can anyone send soln using branch method. I am not getting same profit as in Trading method

latest answer

.

Sugam SM

Sugam SM

CA Foundation

9K+

1

331

Branch accounts

Accountancy

answered on 20-Mar-23 09:50

Can anyone explain what is this alternate method

latest answer

Basically Goods sent to Branch account becomes the expense for HO accounting purpose.

Sugam SM

Sugam SM

CA Foundation

9K+

1

251

Banking Companies

Accountancy

answered on 20-Mar-23 09:51

What is the CRR and SLR rates applicable for the attempt May 2023

latest answer

CRR is 4.5%

Naveen Kumar

Naveen Kumar

CA Inter

3K+

3

279

Investment accounting

Accountancy

answered on 18-Mar-23 12:14

Interim dividend should be cr. To p/l account or investment account

latest answer

Ohk ,.. Thankyou

Rifhat Khan

Rifhat Khan

CA Inter

28K+

2

251

Investment account

Accountancy

answered on 18-Mar-23 05:38

Why this 7500 dividend in credit side 1st item is cr.to amount column and not dividend column...

latest answer

Because it is Pre-acquisition dividend and hence, it is treated as recovery of cost. So, it is credited to the amount column to reduce the cost of investment.

Rifhat Khan

Rifhat Khan

CA Inter

28K+

1

232

Connect With Us

9640 11111 0

9640 11111 0


CIN: U74999TG2017PTC116012 | GSTIN: 36AAECI4332C1Z0 | PAN: AAECI4332C

2025 IndigoLearn.com All Rights Reserved