Depreciation

answered on 14-Dec-22 18:09

Answer please

latest answer

Question paper analysis video will be posted by IL team in YouTube shortly after exams

Rishit Tiwari

CA Inter

★ 425

1

233

Branch Accounts

answered on 14-Dec-22 18:06

Why do Branch Accounts does not include Doubtful Debts & Debts recovered but only Bad Debts?

latest answer

Because it accounts only for the transaction that has happened and no uncertainty accountability.

Udaya Kumar

CMA Inter

★ 920

1

220

Doubt

answered on 22-Dec-22 11:57

Why salary and rent is not written in partners capital account

latest answer

OK sir thank you

sai t

CA Foundation

★ 2K+

4

258

Why abnormal sale is reduced from sales ??

answered on 14-Dec-22 09:39

Why abnormal sale is reduced from sales ??

latest answer

It is not actually removed from sales. Just that they are separated from normal sales to get correct picture of gross profit ratio.

Atharv Sankliya

CA Final

★ 3K+

3

732

Average due date - base date assumption

answered on 14-Dec-22 16:55

Please tell on what basis average due date's base date has to be taken

latest answer

Base Date It is at your discretion. You can take any date as base date for such calculation. The answer would be the same.

Anitha V K

CA Inter

★ 4K+

7

268

BRANCH ACCOUNTING

answered on 15-Dec-22 12:00

why we use AS 11 TO convert FS of Indian branch belonging to a foreign company HO. Since to them AS of different country is applicable?

latest answer

Sorry - I misunderstood your question. If HO is foreign company then the Foreign Company will prepare financial as per applicable IFRS and the indian branch financials would be converted using IFRS. You will understand Ind AS at CA Final level which is equivalent to IFRS.

SK Png

CA Inter

★ 0

5

280

Rectification of errors

answered on 13-Dec-22 11:34

Goods sold to Roopak for â?¹ 1,000 and to Sagar for â?¹ 1,800 recorded correctly in the Sales Book. However, â?¹ 1,800 was posted to Roopak and â?¹ 1,000 to Sagar. What is the rectification entry?

latest answer

thanks you very much

Monika T

CA Inter

★ 7K+

4

392

Bills of exchange

answered on 13-Dec-22 04:44

How to calculate the second bill discount amount? Cash a/c Dr. 2825 Discount a/c Dr . (?) To Anup a/c. (?)

latest answer

I got the answer it's Discount to be borne by Suresh =10000+2825= 12825 =12825/17100Ã?400=300

Rishit Tiwari

CA Inter

★ 425

3

262

Subsidiary books

answered on 12-Dec-22 22:37

In illustration 5, why we are posting only two purchase return entries which has debit note, while not the other two.

latest answer

Thank you bro

Vijay K

CA Inter

★ 9K+

3

275

Rectification of errors

answered on 13-Dec-22 11:17

Cash sale of â?¹ 850 to Meenu was posted to the credit of Meena. What is the rectification entry?? and also explanation of it?

latest answer

You would have accounted for cash in cash book

Monika T

CA Inter

★ 7K+

8

258