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Not sure about the calculation Bal c/d
Accountancy
answered 2 days ago
Anyone can please confirm Balance C/d amount ₹ 2,59,740. It's looks like typing error.
latest answer
Got it, Thank you for response 🙏
Samarendra Patasani
CMA Inter
★ 0
5
49
AS 7 Construction Contracts
Accountancy
answered 2 days ago
How come the answer is (d) for the MCQ no. 2
latest answer
There is expected loss as well
Shaviri Reddy
CA Inter
★ 380
1
37
AS7
Accountancy
answered 2 days ago
How did we get 36L in sub division 2 of the illsn
latest answer
pls share your working
Shruthi Nachammai
CA Inter
★ 4K+
3
53
AS 7
Accountancy
answered on 14-Apr-24 22:58
How to solve this illustration question. Pls someone send the workings
latest answer
Mari consideration emi ledha
Shruthi Nachammai
CA Inter
★ 4K+
8
53
Lease
Accountancy
answered 2 days ago
How to find out the Principal amount and Finance charge??
latest answer
pls share question
Laxmi Devi Suresh
CA Inter
★ 14K+
1
36
Amount Due To/From Contract Customer
Accountancy
answered 2 days ago
Hi sir, hope you're well For calculating amount due to/from the customer, why do we take contract costs rather than contract revenue? Since it is the revenue only that is falling due from customer Thanks
latest answer
Profit element takes care of the revenue part. Basically Cost + Profit = Revenue
Devaprasad Jothimani
CA Inter
★ 0
1
37
Recognition of Estimated Construction Contract Losses Immediately
Accountancy
answered on 12-Apr-24 17:01
Hi sir, hope you're well Since we recognize estimated losses immediately, and we recognize the costs and revenues of subsequent periods also, won't we be doing double-counting? Since the loss is being recognized effectively in two periods. Thanks
latest answer
Expenses are recognised on a cumulative basis. Cumulative expenses incurred - Cumulative expenses recognised
Devaprasad Jothimani
CA Inter
★ 0
1
28
Conditions for Contract's Outcome being Reliably Estimatable
Accountancy
answered 2 days ago
Hi sir, hope you're well Why are the conditions for a contract's outcome being reliably estimatable, different for fixed price and cost plus contracts?
latest answer
Revenue would vary for cost plus contract.
Devaprasad Jothimani
CA Inter
★ 0
1
31
Initial Recognition of Finance Lease by Lessor
Accountancy
answered 2 days ago
Hi sir, hope you're well In lessee's POV, we capitalize asset at lower of FV and PV of MLP. Why do we straight away take net investment as capitalized value here for lessor? Thanks
latest answer
For the lessor the net investment in lease captures all the present values of future benefits.
Devaprasad Jothimani
CA Inter
★ 0
1
27
AS 12
Accountancy
answered 2 days ago
Illustration 4, b) how come the salary expense account got credited...
latest answer
In real life expense account can have a credit balance.
Vijay K
CA Inter
★ 9K+
3
47