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Insurance claim
Accountancy
answered on 22-Mar-23 15:12
So we can either assume right risk and reward is transferred, consideration is received?
latest answer
The objective of preparing Memorandum Trading Account is to arrive at Physical Stock in warehouse/Godown. Even if risk and rewards are passed, we need to ascertain whether goods were there in warehouse or not. Hence the adjustment.
Sugam SM
CA Final
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5
349
PPE for film production
Accountancy
answered on 22-Mar-23 13:29
Does Trees plants and animals used in film production is PPE or not ? Does AS-10 is applicable on these assets as they are not in agriculture activities instead their used in commerical activities
latest answer
Ok sir
Atharv Sankliya
CA Final
★ 3K+
3
320
Insurance claims for loss of profit
Accountancy
answered on 22-Mar-23 15:14
This is regarding Illustration 8 in the study material. 1. Why is this Down-trend calculated when it is not being used anywhere? 2. Why is Adjusted Annual Turnover shown separately? It is same as the Annual Turnover.. I don't get it.. Would be glad if someone can explain..
latest answer
Its not a downtrend calculation.
Sowmya Ilango
CA Inter
★ 6K+
1
356
Investment accounts
Accountancy
answered on 21-Mar-23 13:07
If brokerage is paid on sale and purchase of investment , will it be reflected in p and l account as well?
latest answer
No brokerage is added to cost of investment
SANSKRITI BADRI 2111339
CA Final
★ 3K+
3
342
Amalgamation of companies
Accountancy
answered on 22-Mar-23 00:13
How for paying liquidation expenses of 2 companies , in the books of transferee company getting this 3rd Journal entry . Capital reserve A/c Dr to Goodwill A/c
latest answer
Yeah, thank you very much,
Dhivyaa Latha
CA Inter
★ 4K+
3
397
AS 12
Accountancy
answered on 22-Mar-23 15:27
Explain point (i)
latest answer
Sometimes the government may compensate entities when price changes. For e.g crude oil related subsidy. Such are not covered. You are at revision stage and hence focus should not be into too much of details.
Sugam SM
CA Final
★ 9K+
1
328
AS 11
Accountancy
answered on 20-Mar-23 22:01
Why this is disclosed separately? Closing stock and dep
latest answer
Yeah its an additional info
Sugam SM
CA Final
★ 9K+
2
336
contingent liability
Accountancy
answered on 20-Mar-23 19:40
what is remote possibility?
latest answer
there is only a very small chance that it will happen.
Kamal Kumar
CA Inter
★ 7K+
1
312
Cash flow from operating activities
Accountancy
answered on 27-Mar-23 19:07
Sir is my solution on arriving at Cash flow from operating activities correct in the below question?
latest answer
Income tax refund is credited to P&L, this also needs to be adjusted to arrive at Profit Before Tax. YOu should show tax refund seaparately as an addition.
Venkateshwara Prabhu
CA Inter
★ 16K+
1
343
Final accounts
Accountancy
answered on 22-Mar-23 15:17
What is the adjustment entry of no.1 adjustment
latest answer
For dishonour, add to debtor balance and reduce form bank balance. For direct deposit - add to bank balance and reduce from debtor balance
jayesth Jain
CA Foundation
★ 835
1
370