Departmental accounts

answered on 15-May-22 06:37

It is given that it is on cost then why is stock reserve has been taken

latest answer

They said cost for the transfree department that means Transferor department sent goods at selling price So we need to find unrealised profit

Harsh Mittal

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391

Loss of stock

answered on 15-May-22 10:11

How the Gross profit percentage is 1/3.

latest answer

Previous year gross profit is 20%. So if S.P = 100, GP = 20 Next year S.P inceased by 20. So revised SP is 120, Cost is 80 (assumed to be same) and GP = 40. So GP ratio is 33.33%

uma uma

CA Inter

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235

As. 1

answered on 14-May-22 23:24

What will be the answer if question contain not going concern and what it's treatment

latest answer

Yes it is not a policy....it is fundamental accounting assumption

Lakki Kamu

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FS

answered on 14-May-22 20:07

How p and l is prepared when going concern is not assumed

latest answer

Thank you

Umayal Lakshmanan

CA Final

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268

Insurance

answered on 14-May-22 19:34

While calculating adjusted annual turnover, in few sums trend have been adjusted for current year and in sums its not adjusted. Which one should be followed in exam?

latest answer

Ok. Thank you

Umayal Lakshmanan

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308

Financial Statement of companies

answered on 14-May-22 18:03

Is Interim dividend paid as expenses or only adjusted in P&L A/c balance (BS)...?

latest answer

Tanq frnd

Ravikumar Pandi

CA Inter

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287

Consolidated Financial statements

answered on 16-May-22 13:15

What is the adjustment for dividend paid to minority shareholders in Cons. FS ? Where is this amount adjusted ? In case of Holding co. It is adjusted either by bank and p&l in case of post acquisition AND P&l and investment in case of Pre acquisition( if cr wrongly before ) But, how to adjust the balance amount of dividend for minority shareholders?

latest answer

Thankyou so much sir.

Madhaan S

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346

Internal Reconstruction

answered on 14-May-22 15:45

Can any pls explain how they arrived at 7,68,750 in the 8th entry

latest answer

Got it brothers,Thank you. A bit confused because of the question saying equity share capital cancelled is to be applied to

Sri Ram T

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387

AS10

answered on 16-May-22 18:36

Can anyone please explain this to me

latest answer

Thank you sir

Umayal Lakshmanan

CA Final

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300

Inventory valuation

answered on 14-May-22 15:16

Sir for RM valuation it's always cost or replacement cost which is lesser ??? In this case no need to compare sale of FG with cost right sir ? Please provide insight in this matter sir totally confused sir ?? Becuz in nov 19 suggested answer hav done this ..

latest answer

If FG sold above cost - value at Cost If FG sold below cost - cost or replacement cost which ever is lower. You will never value any inventory above cost

Kiran Vijay

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298