Forums
Packaging materials
Accountancy
answered on 29-Apr-23 22:24
Is packaging materials (boxes, bags) considered as inventory ??
latest answer
Ok thanks
Atharv Sankliya
CA Final
★ 3K+
3
543
Mtp
Accountancy
answered on 29-Apr-23 01:10
Why stock reserve is not calculated on transfer of 300,000 from dept x to y
latest answer
Ohk 👍🏻
Rifhat Khan
CA Inter
★ 28K+
2
683
Capital vs Revenue Expenditure
Accountancy
answered on 28-Apr-23 16:01
I don't understand how repairs on an asset are considered Revenue Expenditure, such as the example of a damaged bike being repaired. The repairs ensure we can use the bike, so isnt it a capital Expenditure?
latest answer
Ah ok. Thank you, and Good Luck
Vishnu Muraleedharan
CA Final
★ 32K+
6
439
Rtp may 23
Accountancy
answered on 28-Apr-23 12:42
In this question how this accumulated depreciation on office equipment has calculated...plz explain
latest answer
https://youtu.be/EReu5Ytvafs?t=3064 Covered in this video. Do subscribe to the channel so that you do not missout on these discussions. Thanks
Rifhat Khan
CA Inter
★ 28K+
1
478
AS 13
Accountancy
answered on 28-Apr-23 02:44
If the loss is permanent in case of Long Term Investment, should we write it as - Value to be reduced OR Provision for Diminution to be made?
latest answer
You will create provision and then u are going to reduce cost of inv.
Kriti Iyer
CA Inter
★ 3K+
1
426
Depreciation as per schedule 3
Accountancy
answered on 27-Apr-23 14:47
Definition of Depreciation as per schedule 3 A systematic allocation of depreciable amount of an asset over it's useful life Definition of the same as per many website and authors The monetary value of an asset decreases over time due to use, wear and tear or obsolescence. This decrease is measured as depreciation My query is which definition is correct and appropriate and does the 2 nd definition is also derived from the 1 st one??
latest answer
From a pure accounting perspective, the cost of asset is allocated over time as expense.
Atharv Sankliya
CA Final
★ 3K+
2
493
Realisation account
Accountancy
answered on 29-Apr-23 10:45
Basically Realisation account the book values should be transferred, in either Amalgamation or Dissolution or sale of an existing Co. or Firm. But below photo the realisation account is Prepared with market value why...? ( Advance accounts, Sale of partnership.
latest answer
Assets & Liabilities are transferred at book value
Saravana Perumal
CA Final
★ 3K+
2
2K+
Internal Reconstruction of Companies
Accountancy
answered on 26-Apr-23 12:34
When we have to use 1.Share Surrender A/c 2.Reconstruction A/c 3.Capital Reduction A/c Is Reconstruction A/c and Capital Reduction A/c are same ?
latest answer
Thanks Sir
Prethivi Rajan
CA Final
★ 9K+
3
527
Classification of inventory
Accountancy
answered on 26-Apr-23 11:20
If a electronics manufacturing company purchase the readymade remote of electronic equipment from other company so in which head of inventory it is classified Raw materials, finished stock , stock in trade??
latest answer
Stock in trade is closing stock If you want to maintain a separate account for the remote you can maintain but the cost of goods sold for the remote should be transferred to the FG account properly and maintain two closing stock for remote and electronic equipment
Atharv Sankliya
CA Final
★ 3K+
8
426
Final accounts
Accountancy
answered on 30-Apr-23 15:41
How to calculate closing stock which is given in 6 adjustment.
latest answer
If you have 100 of Stock, Bank will consider 80% of its value as margin or security. So the value of security that the bank is considering is 80. Loan is given at 80% of security. So 80% of 80 = 64. So amount of loan sanctioned = 100 x 80% x 80% = 64. If Loan is 64 - Inventory is 100 If Loan is 1,60,000 - Inventory is ? If Loan is 1, inventory is 100/64 So for 160000 inventory = 100/64 x 160000 = 250,000
Saketh Reddy Kotla
CA Foundation
★ 21K+
7
899