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Doubt
Accountancy
answered on 22-Apr-23 13:02
Why salvage value is not deducted in diminishing balance method
latest answer
It is deducted to calculate the rate. Once rate is calculated you will apply the rate on the carrying amount.
Chandramouli A
CA Inter
★ 720
1
373
Account of credit
Accountancy
answered on 22-Apr-23 06:36
Suppose in a shop my account is there(credit) i gave advance money to shopkeeper what will be the entry?? Will it be treated as advance received or not??
latest answer
Yes it's treated as adv received... u will be treated as liability
Prathmesh kharul
CA Foundation
★ 3K+
1
435
AS 12 got grant
Accountancy
answered on 22-Apr-23 10:30
If government grants exceed Assets value after deducting government grant form Assets Excess amt cr in p&l account ?
latest answer
If earlier the depreciation on that asset is debited to p&l a/c and the amount of grant is received after that i.e in the subsequent years then you can credit the excess in p&l a/c
Satyaprakash Yadav
CA Final
★ 7K+
2
435
Bonus
Accountancy
answered on 21-Apr-23 06:52
Can we use capital reserve for bonus issue?? NOTE : I M NOT ASKING ABT CAPITAL REDEMPTION RESERVES.
latest answer
Yes.
Reetikaa R
CA Final
★ 7K+
2
467
Accounts
Accountancy
answered on 21-Apr-23 16:45
Cash Gift received The entry for same will be Cash a/c dr To name of the giver Or Cash a/c dr To income(gift)??? ???
latest answer
Ok sir
Prathmesh kharul
CA Foundation
★ 3K+
2
465
Insurance
Accountancy
answered on 22-Apr-23 13:03
In this question , it says goods were sold on approval basis. The WORTH is 1,98,000.. i interpreted that to be the actual worth,ie, the cost .. is this incorrect ? I’m getting same answer .
latest answer
It is to be considered as sales.
SANSKRITI BADRI 2111339
CA Final
★ 4K+
4
462
Branch
Accountancy
answered on 20-Apr-23 17:39
Plss tell me the invoice proce and sale price for branch
latest answer
Notable point: branch is selling in 20 percent of profit relating to its invoice price (180).
Reetikaa R
CA Final
★ 7K+
2
489
Branch
Accountancy
answered on 20-Apr-23 17:29
If they ask to prep branch account in head office books , wat all to put in the account ?? PRACTICE QUES 10
latest answer
Assuming it is a foreign branch accounts, all assets and liabilities' closing balance + net profit relating to the branch will come. In case of dependent and independent types, you may refer to the format in the book for better understanding.
Reetikaa R
CA Final
★ 7K+
1
507
Final accounts
Accountancy
answered on 20-Apr-23 18:10
What is the 4th answer. Please give explanation too
latest answer
Thanks
SUBODH M JAIN
CA Final
★ 2K+
2
456
Amalgamation
Accountancy
answered on 22-Apr-23 17:16
In the nature of purchase What is the journal entry of statutory reserve ? (ex. Development Rebate Reserve, Investment Allowance Reserve, Export Profit Reserve) In the books of transferee and transferor company ?
latest answer
These are not transferred as such. It is only a notional entry passed by acquirer company.
Jiya T
CA Inter
★ 10
4
623