Forums
Financial statement of a company
Accountancy
answered on 13-Aug-22 14:03
In illustration 1 of icai material why is debenture interstellar not shown in current liability in the balance sheet
latest answer
interest in tb means both expense and payment entry is done.
Shriram Ravichandran
ACCA Skill
★ 2K+
4
375
AS-16
Accountancy
answered on 13-Aug-22 14:07
If they ask compute borrowing costs and exchange difference for the loan taken and then we calculate and find some amount which should be treated as per AS-11, should we do it or write it should be treated as per AS-11
latest answer
So we need to combine both the As and provide soln. Okay sir!
Sugam SM
CA Final
★ 9K+
6
433
Entry
Accountancy
answered on 13-Aug-22 11:06
Goods of selling price rs 1500 were distributed as free sample. It is our practice to charge 20% on selling price........entry???
latest answer
Advertisement account. Dr. 1200 To Purchases account. 1200
Shruti ghosalkar
CA Foundation
★ 0
3
329
Entry
Accountancy
answered on 13-Aug-22 11:10
Goods of the selling price rs 3300 are stolen. It is our practice to charge 10% on cost price.
latest answer
Goods lost by theft A/c Dr. 3000 To Purchases A/c 3000 3,300*100/110
Shruti ghosalkar
CA Foundation
★ 0
3
303
Plse tell IAM I correct or not
Accountancy
answered on 12-Aug-22 20:38
As per as2 valuation of inventories the measurement of cost for raw material is at cost or replacement cost which ever is lower I am a correct or not? For working progress and finished goods need a realisable value or lower of cost whichever is lower..
latest answer
If you are valuing Finished Goods at "cost" , then RM which is in the finished goods should be valued at "cost" and WIP also same should be valued at "cost" If you are valuing Finished Goods at "NRV", then RM which is in the finished goods should be valued at "Replacement cost" and WIP should be valued at NRV.
MPR Sanjay Kumar
CA Inter
★ 530
11
370
Doubt
Accountancy
answered on 16-Aug-22 10:24
Good of the sp rs 4000 are lost by fire and insurance co. Admitted 60% of claim. It is our practice to charge 20% on selling price.....entry for this??
latest answer
Thank u sir!!
Shruti ghosalkar
CA Foundation
★ 0
8
374
Accounting standard framework
Accountancy
answered on 16-Aug-22 10:14
How to determine historical cost of liability
latest answer
Historical cost - value at which liability is incurred. Say you purchase on credit goods worth 10,000 Historical cost of liability is 10,000
Deepak Deepak
CA Inter
★ 700
1
318
No
Accountancy
answered on 12-Aug-22 11:36
What will be the entry for.....purchase goods from mr.x of rs 1000 and he paid carriage rs 100 on our behalf .
latest answer
Yes thnx
Shruti ghosalkar
CA Foundation
★ 0
8
340
What is IESs
Accountancy
answered on 12-Aug-22 05:25
What is this ??
latest answer
For us it is not there bro
Atharv Sankliya
CA Final
★ 3K+
4
425
Theoretical framework
Accountancy
answered on 11-Aug-22 21:34
What is the difference between lenders and creditors?
latest answer
Creditors is a wider term than Lenders.'Lender' is used in every day's life apart from commercial use too.ie) if you lend money to your friend,you become the lender.Creditors are those who arise in the commercial environment
Mahalakshmi s
CA Inter
★ 1K+
2
356