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AS 10
Accountancy
answered on 03-Jan-23 06:17
For charging depreciation, if some machinery is not used since production not there then we should provide depreciation or not ?
latest answer
Should provide depreciation
Kamal Kumar
CA Inter
★ 7K+
1
460
iam I correct or not
Accountancy
answered on 02-Jan-23 20:30
The business transactions are recorded in journal book like a entries of accounting language then the posted into the ledger account for specific view and analysis statement third processes trial balance Note: in trial balance debit side and credit side the items are allocated in trial balance what are the items are placed in debit side that should be posted into the credit side while making ledger In trial balance what are the items are placed in credit side that should be posted into the debit side while making ledger Which means By means .......To To means .......By
latest answer
Nothing friend ...thanks
MPR Sanjay Kumar
CA Inter
★ 530
7
497
Purchase book
Accountancy
answered on 02-Jan-23 14:38
In purchase book when frieght charges added later when ledger accounts are opened then considered net purchases saperatly and frieght charges ledgers are opened saperatly why? Why can't we take total of that transaction including purchases and purchase ledger is opened and no saperate ledger for frieght charges is this alright?
latest answer
You can do it either ways.
Anil Raj
CA Foundation
★ 580
1
503
going concern
Accountancy
answered on 02-Jan-23 04:14
penalty for loan is paid when, the loan amount will be paid but here loan amount is not paid then how did penalty got accrued why is it shown in PL a/c ?
latest answer
i understood thank you :)
Sushmita Chowdhury
CA Inter
★ 2K+
4
638
Framework
Accountancy
answered on 02-Jan-23 09:21
A machine was acquired in exchange of an old machine and ` 20,000 paid in cash. The carrying amount of old machine was ` 2,00,000 whereas its fair value was ` 1,50,000 on the date of exchange. The historical cost of the new machine will be taken as (a) ` 2,00,000 (b) ` 1,70,000 (c) ` 2,20,000 How is historical cost came 170000 ?
latest answer
150000(fair value) + 20000(amount paid in cash) = 170000
Sushmita Chowdhury
CA Inter
★ 0
2
552
Framework chapter
Accountancy
answered on 31-Dec-22 22:43
Liabilities are recorded at the undiscounted amount of cash expected to be paid on settlement of liability in the normal course of business under: (a) Present value. (b) Realizable value (c) Current cost. ICAI mat answer given is (b) How & why
latest answer
Settlement value is the realisable value for a liability
Sushmita Chowdhury
CA Inter
★ 0
1
490
Exam
Accountancy
answered on 20-Jan-23 23:46
Easy chapters to prepare well in May 2023?
latest answer
To score 40-45 marks easily, cover the following thoroughly: Accounting Standards Hire Purchase Investment accounts Insurance claims These will give you a passing mark, but this is a very good scoring and will help you in your aggregate. So, try to cover all chapters. You may leave out some concepts which you feel very difficult, but atleast have an idea of each chapter.
Narra Thirupathaiah
CA Inter
★ 335
4
517
Cash flow statement
Accountancy
answered on 28-Dec-22 17:04
Please tell me why they have added O/s wages and expenses
latest answer
Yes it is operating but when it is payable means liability so increase in current liability therefore we add it
Dhakshana Dhakshana
CFA L2
★ 18K+
2
448
AS 14 - Can't find it !
Accountancy
answered on 27-Dec-22 12:29
For some reason I couldn't find the classes for AS 14 in my courses in Advanced Accounting tab
latest answer
It is covered in Amalgamation chapter in Without AS course.
RADHA MADHAV
CA Inter
★ 0
1
523
Redemption of preference shares
Accountancy
answered on 25-Dec-22 18:16
the following or extract from the balance sheet of ABC Ltd as on 31/12/20x1 Share capital 50,000 equity share capital of Rs.10, each fully paid up Rs.5,00,000 2000 10% redeemable preference shares of Rs.100 each fully paid up Rs.2,00,000 Reserves and surplus capital reserve Rs.2 lakhs general reserve Rs.2 lakhs profit and loss account Rs.75,000 On 1/01/20X2 the board of directors decided to redeem the preference shares at premium of 5% by utilisation of reserves You are required to prepare necessary journal entries, including cash transaction in the books of the Company Answer please
latest answer
Sorry.. I got it.. Thank you for helping us out sir!!..
Siva subramaniam M
CA Inter
★ 105
6
785