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Departmental accounts
Accountancy
answered on 24-Feb-23 01:37
Illustration 7 why 1000 debit P&L a/c but in qn 2000 gvn and marked down 1260 not accounted why?
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Question 4 why 400 added and subtracted?
Kamal Kumar
CA Inter
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1
627
Inventory
Accountancy
answered on 23-Feb-23 18:25
Please solve and tell me the right answer with explanation. According to the book the right answer is C
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Second bit
SUBODH M JAIN
CA Final
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3
594
DEPARTMENTAL ACCOUNTS
Accountancy
answered on 23-Feb-23 17:19
I could not understand markup and marked down concept in this. could any one clarify these terms and also accounting procedures?
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Markup is similar to what you have learnt in consignment as invoice price.
Kamal Kumar
CA Inter
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2
562
Bonus or right issue
Accountancy
answered on 23-Feb-23 17:30
If in the qn has given eg:bonus shares was allotted in the ratio 1:1..my doubt was the 1st one is held or issue??
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1:1 - 1 for 1 held (existing) 1:2 - 1 for 2 held (existing)
Prasanna Ram
CA Inter
★ 0
3
531
Consolidation Illustration 7
Accountancy
answered on 27-Feb-23 17:53
Is there any correction regarding no. of shares or fave value of share in this?
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Yes you are right. Take it as 100
Vasu Naidu
CA Inter
★ 0
5
438
Bonus issue rights issue doubt practical case study
Accountancy
answered on 22-Feb-23 19:02
In this practical problem rupees 15000 how it will come??? General reserve value..... Please explain
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Total Share Capital = 400,000 Bonus Issue = 400,000*1/4 = 100,000 Bonus issue to be made in Following order :- i.) CRR - Rs 55000 ii.) Securities Premium - 30,000 iii.) General Reserves. - RS 15,000 ( balancing Figure )
MPR Sanjay Kumar
CA Inter
★ 530
4
630
Rights Issue
Accountancy
answered on 22-Feb-23 12:36
Is the Solution correct ? Practical Questions Question 6
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Welcome:)
THARAKESH M
CA Inter
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3
507
incomplete record
Accountancy
answered on 22-Feb-23 09:51
goods costing rs900 used as advertising material why purchase account is credited and not inventory account
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thank you
Sushmita Chowdhury
CA Inter
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7
461
Preliminary expenses
Accountancy
answered on 21-Feb-23 14:19
How to disclose preliminary expense in Balance sheet?
latest answer
These expenses will be written off and expensed in the P&L. AS - 26 / Ind As 38 do not permit capitalisation of such expenses.
Kamal Kumar
CA Inter
★ 7K+
3
692
AS-11 (change in forex rate)
Accountancy
answered on 23-Feb-23 13:27
In Integral foreign operations (IFO) the mechanism to translate foreign currently items (P&L items, balance sheet items) is different from the way we do in Non Integral Foreign operations (NIFO) as depicted in pics.For eg: the difference arising due to translation goes to p&l a/c in case of IFO but in case of NIFO it goes to FCTR (Foreign currency translation reserve). So the doubt is why we have diff treatments for same items in these 2? How and why being integral and non integral affect the treatment of same items (like depreciation is translated in home currency on the basis of forex rate on date of acquisition of Asset in IFO WHEREAS same depreciation is translated on average forex rate in NIFO, and ofcourse same is with other items too, as shown in pics)
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Ok sir got it
Garima Bhargava
CA Inter
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3
778