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NPO
Accountancy
answered on 21-Oct-22 09:11
Please look in this question it is given "for the year ended March 31, 2018" This means the year 2017-2018. Right ? So the subscriptions for the year 2017-18 is 60000. Why in Income and Expenditure A/C it has put Subscriptions as 350000 that is the subscription amount for 2018-19.
latest answer
Esa kuch nahin hai question mein mistake hai 60000 ko 2017-18 mein likhna chahiye tha..question galat hai..matlab printing mistake
Ardhendu Sekhar Acharya
CA Inter
★ 250
6
348
BRS
Accountancy
answered on 28-Oct-22 12:55
Positive balance of Pass book is Cr or Dr ?
latest answer
Positive balance in pass book = Dr . bal in bank book in entity accounts Negative balance / Dr. balance in pass book i.e. overdraft = Cr. bal in bank book in entity books
Ardhendu Sekhar Acharya
CA Inter
★ 250
5
272
How to calculate
Accountancy
answered on 20-Oct-22 18:14
Gross profit ratio
latest answer
Ok
TARGET CMA
CMA Inter
★ 1K+
4
336
#1 Question for the day (Foundation)
Accountancy
answered on 23-Oct-22 01:48
Write the answer on a sheet and present it as if you write in exam. Send the photo by 8 pm. #Nov22 #Practice Mr. Joshi's trial balance as on 31st March, 2020 did not agree. The difference was put to a Suspense Account. During the next trading period, the following errors were discovered: (i) The total of the Purchases Book of one page, Rs.5,615 was carried forward to the next page as Rs. 6,551. (ii) A sale of Rs. 281 was entered in the Sales Book as Rs. 821 and posted to the credit of the customer. (iii) A return to creditor, Rs. 295 was entered in the Returns Inward Book; however, the creditor's account was correctly posted. (iv) Cash received from Senu, Rs. 895 was posted to debit of Sethu. (v) Goods worth Rs. 1,400 were dispatched to a customer before the close of the year but no invoice was made out. (vi) Goods worth Rs. 1,600 were sent on sale or return basis to a customer and entered in the Sales Book at the close of the year, the customer still had the option to return the goods. The gross profit margin was 20% on Sale. (vii) Rs. 600 due from Mr. Q was omitted to be taken ·to the trial balance. (viii) Sale of goods to Mr. R for Rs. 3,000 was omitted to be recorded. You are required to give journal entries to rectify the errors in a way so as to show the current year's profit or loss correctly.
latest answer
Oh yes! Thank you so much for the correction....
Sudha Reddy
CA Final
★ 20K+
4
7K+
Partnership firms
Accountancy
answered on 20-Oct-22 12:59
Do I need to prepare only Profit and Loss Appropriation account for this question or both Profit and Loss account and Profit and Loss Appropriation ? (Q.no 18) Please check
latest answer
Thank you
Ardhendu Sekhar Acharya
CA Inter
★ 250
9
344
Bonus and rights issue
Accountancy
answered on 19-Oct-22 20:08
In this question how to calculate the bonus shares ratio
latest answer
Ok fine In order to issue bonus shares first of all we need to ensure the equity shares are fully paid So if theres any un paid shares then we need to assume the payment for such shares has been received and bonus shares can be allotted for such shares Ok in the same ratio refers to If u re having 1 share in existence then u will be allotted 1 bonus shares Nothing but 1:1 ratio
Subramanyam N
CA Inter
★ 6K+
3
468
Doubt
Accountancy
answered on 21-Oct-22 17:31
According to whole syllabus. In partnership what is the probability to come retirement or death questions in exam? Is it important or not
latest answer
A detailed past paper analysis is available under free resources. You can also refer to some of our revision lectures on youtube.
Nakul Dixit
CA Final
★ 4K+
7
345
Mock Test
Accountancy
answered on 19-Oct-22 13:43
How many number of Mock Test One Should Give Before Exam? Is One Mock Test sufficient after solving all RTP and Module Illustrations? And I will revise other questions in other mock test series and other past year questions after I give one mock test... okey? What should be average time for preparation after we appear for Mock Test? Is One Month Sufficient Time for Revision after I appeared for Mock Test?
latest answer
Yaa and also refer to weightages given by ICAI ha. They play important role for paper setters and us to. hehe
B A
CA Foundation
★ 10
8
419
Test Series
Accountancy
answered on 21-Oct-22 17:34
Does Indigo Learn give Test Series on 25% / 50% and 100% of syllabus? Is it possible to custom create test series as per topics chosen by me?
latest answer
Pls update your profile name to actual name.
B A
CA Foundation
★ 10
8
387
Sale of partnership firm
Accountancy
answered on 19-Oct-22 10:38
Illustration 2 of icai can anybody explain following things for business purchase account - 1. What is the nature of business purchase account - it is showing debit balance 2. Why are assets not taken over transferred to this account? 3. How can we ascertain that the balancing figure is profit ? 4. Thae firm was taken on in March 2012, and the business purchase account is closed in December 2012 only. Why didnt they make the purchase consideration calculations and settlement entries in March 2012 and kept the busines purchase account open till end of the year?
latest answer
The solution in ICAI material is not intuitive. You can compute profit by comparing assets and liabilities
Lakki Kamu
CA Final
★ 4K+
3
266