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Insurance Claims
Accountancy
answered on 31-Oct-22 20:12
In this question what would we do for fire fighting expenses if it wasn't admitted by insurance company. Can we claim such expenses as loss for computing claims?
latest answer
Unless it is admitted by the company
R M
CA Final
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6
331
Insurance claims for loss of stock
Accountancy
answered on 01-Nov-22 16:06
What is the meaning of the point (b) Opening stock on 1st April was â?¹2,20,000, including stocks of the value of â?¹20,000 being lower of cost and net value subsequently realised but the realisation value is not included in the sales given above
latest answer
It is kept separately to compute normal profits and stock.
Subramanyam N
CA Inter
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5
308
BOE
Accountancy
answered on 31-Oct-22 17:22
In the attatched question...When X draws bill on Y ...on discounting X remits to Y in the ratio of( X:Y= 2:1) ...when Y draws bill on X and discounts it with bank he remits only 6740 shouldn't it be 16740 because when 40110 divided in 2:1 ratio X should get 26740 on deducting the earlier amount of 10000 ,Y should remit 16740 only then the discount would be 1260 as said...but in question it is given that only 6740 is remmited by Y to X but the discount is given for 16740 rs as 1260...why is that so?.... (Illustration 11)
latest answer
In question itself ,they gave that Y sends 6740. Then that 20000=30000(intial amount)-10000(money remitted by X to Y.
Yamuna S
CA Inter
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3
433
AS-2
Accountancy
answered on 02-Nov-22 09:11
Kindly... Explain what they mentioned in the notes...
latest answer
Pls follow guidance given in ICAI material and AS-2. Though the note given is logical, it is not the basis followed generally.
Manoj Kumar 007
CA Inter
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1
323
AS 11
Accountancy
answered on 31-Oct-22 16:47
Can anyone explain we why they divided the loan amount by 140?
latest answer
ok
theee k
CA Final
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3
338
Step marks
Accountancy
answered on 31-Oct-22 14:11
Will step marks be provided even if the final answer is wrong?
latest answer
thanks
Shankari C
CA Inter
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5
378
AS 1
Accountancy
answered on 02-Nov-22 08:59
X & Co. a partnership firm has prepared its books of accounts on cash basis. Comment. Will your answer change, if the entity is a company i.e.,X Ltd.
latest answer
https://youtu.be/SBz6fh6rFJI
Mahendar Peraboina
CA Inter
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4
321
#8 Question of the day (Accounts)
Accountancy
answered on 31-Oct-22 22:23
M/s. Dayal Transport Company purchased 10 trucks @ Rs. 50,00,000 each on 1st July 2017. On 1st October, 2019, one of the trucks is involved in an accident and is completely destroyed and Rs. 35,00,000 is received from the insurance in full settlement. On the same date, another truck is purchased by the company for the sum of Rs. 60,00,000. The company writes off 20% of the original cost per annum. The company observes the calendar year as its financial year. Give the motor truck account for two years ending 31st December, 2020
latest answer
Correct Answer
Sudha Reddy
CA Final
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1
4K+
Small doubt
Accountancy
answered on 31-Oct-22 09:27
Can anyone explain explain the point of iii part in question no 01.......
latest answer
look at b) under exception of cost of inventory...it says storage cost shouldn't be included
Balachandar S
CA Inter
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2
409
Bill of exchange
Accountancy
answered on 31-Oct-22 00:01
What does point ii) under notes mean...why is that given here...how is that related to BOE
latest answer
Got it ... thanks
Yamuna S
CA Inter
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7
458