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Insurance claim
Accountancy
answered on 12-Oct-22 03:18
In this question i am getting answer as 66,000 But in solution it is given as 64,000
latest answer
You calculated profit by considering 5% increase in sales amount but not considered 10% increase in cost of good sold So as per your calculations profit is 55,000 So, cost of good sold should be 50,000 (105000-55,000) But this 50,000 is before considering 10 % increase in cost of purchase Out of 50,000, 30,000 is from opening stock So, balance 20,000 is current period purchase which is affected to cost increase So, revised cost shoul be 20,000/100*110 22,0000 Revised cost of good sold=30,000+22,000 =52000 Revised profit=105000-52000 =53,000 (Fifo method assumption) Out of 88,000 purchase 22,000 cost of good sold along with 30,000 opening Balance=88,000-22,000 =66,000 After 2000 salvage 64,000 loss of stock
Subramanyam N
CA Inter
★ 6K+
1
440
AS 29
Accountancy
answered on 11-Oct-22 21:36
As per the AS 29 does the Provisions for doubtful debts can be called as a provision or not
latest answer
Its not a provision It is adjustment to an asset
CHINTHA SHARAN
CA Inter
★ 80
2
427
Revaluation loss
Accountancy
answered on 11-Oct-22 10:01
A machine is revalued downward and no Balance in revaluation surplus then it is charged to p&l by which name ??
latest answer
The revaluation profit/ loss is transferred to the capital accounts of all partners.
Atharv Sankliya
CA Final
★ 3K+
2
483
Is it mandatory to prepare assets disposal a/c
Accountancy
answered on 10-Oct-22 23:38
Is it mandatory to prepare assets disposal a/c in case of provision for depreciation??
latest answer
Prepare if asset is sold during the year.
Atharv Sankliya
CA Final
★ 3K+
1
459
Partnership
Accountancy
answered on 12-Oct-22 13:58
Please anyone prepare cash and bank account
latest answer
Please try solving and post your answer. You will learn better from your own mistakes than from other's correct answers
Harshita Tripathi
CA Inter
★ 2K+
2
449
Npo
Accountancy
answered on 12-Oct-22 14:11
Can you plzz help me to find ans of this...
latest answer
https://youtu.be/SdMHO0qgQGA For quick conceptual understanding of NPO.
Bhumika Soni
CA Inter
★ 6K+
2
570
Incomplete records
Accountancy
answered on 12-Oct-22 14:10
Why all these balances in these acnts taken in this like this
latest answer
You need to figure out missing figure (balancing figure) from each account and complete the question.
Fathima _
CA Inter
★ 2K+
3
473
Contingency Valuation of Abnormal Loss and Closing Stock
Accountancy
answered on 10-Oct-22 10:01
Please tell me why in this question Octroi duty is calculated while computing Closing Stock but not during computing Abnormal Loss in the Working note ?
latest answer
Thank you sir
Ardhendu Sekhar Acharya
CMA Inter
★ 250
2
419
Cash a/c undercast by Rs. 10 lac
Accountancy
answered on 12-Oct-22 14:43
What are the rectification entries for sales a/c undercast by Rs. 10 lac
latest answer
Then you will just pass an entry in sales account as By undercasting of Sales Book - 10 lacs.
Atharv Sankliya
CA Final
★ 3K+
11
721
Asset disposal a/c
Accountancy
answered on 10-Oct-22 10:59
When asset disposal account is prepared??
latest answer
It is a logical way to handle disposal of asset cases. You can also include the sale entry in original asset account
Atharv Sankliya
CA Final
★ 3K+
5
679