Consignment

answered on 16-Oct-22 13:32

The advance payment sent by Consignee to Consignment what is its journal entry ? Why it is not shown in the Consignment A/C ? In this question 50000 has been sent by consignee as an advance to the Consignor but no entry is made in the Consignment A/C ?

latest answer

Journal will be later posted to ledger

Ardhendu Sekhar Acharya

CA Inter

★ 250

26

324

Consignment

answered on 16-Oct-22 12:13

Please explain me entry 5 (d) "For the remittance that may accompany the Account Sales..." (please check in the second photo)

latest answer

Thank you

Ardhendu Sekhar Acharya

CA Inter

★ 250

9

290

Consignment

answered on 16-Oct-22 10:22

Please someone explain me the calculation of extra Commision in this question I am unable to understand the "x" on the RHS within the brackets

latest answer

Thank you I understood it

Ardhendu Sekhar Acharya

CA Inter

★ 250

5

263

Rectification of error

answered on 16-Oct-22 10:55

Goods worth Rs 2500 taken away by the owner for his personal use has been debited to the Repairs Account. This entry is done next year. The answer given is P/L Adjustment A/C is credited and Drawings A/C is debited. There is no mention of Repairs A/C as we are doing the rectification after completion of business year. But can we write P/L Adjustment A/C Dr To Repairs A/C Is this entry correct ?

latest answer

Thank you

Ardhendu Sekhar Acharya

CA Inter

★ 250

6

255

Government utility

answered on 16-Oct-22 12:09

Fifo method

latest answer

This is in inter auditors and audit of the company. Paper 2

Astha pandya

CA Foundation

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6

263

NPO

answered on 17-Oct-22 13:30

Please explain, the calculation for subscriptions

latest answer

I think there is a printing mistake. Outstanding subscription on 1.1.16 should have been 3100. If so, Outstanding subscription as on 1.1.17 will be 4300 (3600 for 2016, 700 for 2015)

Jaswanth P

CA Inter

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1

292

Abnormal loss

answered on 16-Oct-22 17:22

If insurance claim is more than abnormal loss what we should do Ex abnormal loss is 300 Insurance claim is 2500

latest answer

Ok sir

Vamshi Kumar

CA Inter

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6

266

Revisions

answered on 15-Oct-22 09:34

I have completed my 90% syllabus can i pass foundation dec 22 ?? What is the strategy for it ?

latest answer

Please solve past papers and attempt Mocks

Anjali S

CA Inter

★ 0

4

290

MV vs FV

answered on 15-Oct-22 11:58

I can understand the meaning of both the terms. But, I am unable to differentiate, significantly. Please, help me with the significant & subtle differences between Market Value & Fair Value.

latest answer

Thanks a lot, both of you for clarifying my query!!

Krishna Sankar

CA Inter

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3

297

Can anybody just check and is my answer ok as it is slightly varying from the boom answer ?

answered on 14-Oct-22 19:59

The Book answer is 15th February but my answer is coming out as 16th February. Please verify

latest answer

Ok

Ardhendu Sekhar Acharya

CA Inter

★ 250

2

302