Forums
Branch accounts and department accounts
Accountancy
answered on 04-Mar-23 04:52
Why I should transfer to my branch at a profit? Same for department sales?
latest answer
Its more to evaluate performance of branches. Say A and B are two branches. A purchases the goods at its location at 100 and generally sells to outsiders at 110. B has to pay 110 in its location to purchase the goods from outsiders and sells it at 120. Now if A transfers the goods at 100 then B would show a profit of 20. And A will not have any profit to show.
Kamal Kumar
CA Inter
★ 7K+
3
510
Liquidation
Accountancy
answered on 27-Feb-23 21:44
What is the treatment of p/l (DR) balance in statement of affairs?
latest answer
Pls check the classes under free courses. All illustrations available there
Vasu Naidu
CA Inter
★ 0
1
481
Partnership
Accountancy
answered on 27-Feb-23 14:04
Could anyone explain realisation account of problem 3 in Partnership accounts in Advanced Accounting subject? The similar problem is also in illustration 7.
latest answer
Check free classes under free courses
Farhana Shaik
CA Inter
★ 19K+
1
569
Nominal value vs book value
Accountancy
answered on 27-Feb-23 17:23
In this November 2022 question on investment account, there is nominal value and book value. Can someone tell the difference between the two and what should we use for the calculation of the cost of investment.
latest answer
Book value is Net Assets / No of shares. However here the question uses the term book value as value recorded in the books.
Prasad Ramasamy
CA Final
★ 4K+
3
1K+
Ledger
Accountancy
answered on 27-Feb-23 06:24
I am getting difference of 7000 when I tried trial balance. Is this because of given credit and debit balance which have 7000 or any error in solving.
latest answer
Ya it is beacause the opening balances they gave only are only few account balances hence they didn't tally and have difference of 7000 The requirement was also only prepare ledger accounts so trial balance not relevant
SUBODH M JAIN
CA Final
★ 2K+
1
488
Abnormal gain
Accountancy
answered on 27-Feb-23 17:25
Does abnormal gain decrease the cost of product ??
latest answer
for accounting / costing purpose - no but if you look at economics or from the point of view of pure gain - yes.
Atharv Sankliya
CA Final
★ 3K+
14
718
Cash flow statement
Accountancy
answered on 26-Feb-23 14:33
Can we consider Trade receivables while computing cash flow?
latest answer
This is covered in detail in class. The linkage between netprofit and working capital changes. We start with net profit. Net profit is computed on accrual basis. So there are some income which are considered for which cash would not have been received by the entity. Hence working capital adjustments are made. Since we did not receive amounts from debtors, it is reduced from the net profit to arrive at cash flow. For assets consider Opening - Closing For liabilities consider closing - opening.
Snehashis Mohanty
CA Inter
★ 35
3
546
AS-4
Accountancy
answered on 26-Feb-23 15:14
Sir, can you please let me know under which situation (i) disclosure in notes to accounts & (ii) disclosure in report of approving authority is required?
latest answer
Thank you so much Sir.
Varshaa M
CA Final
★ 35K+
3
664
Closing stock
Accountancy
answered on 26-Feb-23 16:18
Suppose if sales is not made good but we purchase more goods and the closing stock is higher. So the netprofit is going to be higher then the tax also higher and my question is i I don't have realized profit on sales and it is acceptable?
latest answer
Thank u sir, I am not think about GP Which played because stock always measured at cost.
Kamal Kumar
CA Inter
★ 7K+
6
555
Spoiled food,fruits, vegetables - normal loss ?
Accountancy
answered on 25-Feb-23 18:24
Does spoiled food fruits and eatable at cafe/restaurant considered as normal loss ?
latest answer
directly transferred to p and l account
Atharv Sankliya
CA Final
★ 3K+
6
509