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Plse check me
Accountancy
answered on 15-Aug-22 17:38
as per Accounting standard 2 valuation of inventories, valuation of raw material..cost of raw material or replacement value whichever is lower we should have to take that lower amount am I correct?? for an example the raw material cost is RS 1000 but the replacement cost Rs 600 means we should have to take lower value to value the raw material rupees 600 am I correct?? does replacement cost and market price both same?? plse guide me
latest answer
Raw materials are always valued at cost. However, If raw material prices are falling down and finished goods are expected to be sold at below cost i.e their NRV is less than the cost then raw material will be valued at NRV and replacement cost of raw materials is the best measure of their NRV. Replacement Cost is the cost we will incur if we buy the raw material today.
MPR Sanjay Kumar
CA Inter
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Is enough time is remaining for ca foundation
Accountancy
answered on 14-Aug-22 12:45
Can I still start my preparation for dec 22 ca foundation is there enough time for it
latest answer
Study planner is very much helpful
Atharv Sankliya
CA Final
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7
432
Is enough time is remaining for ca foundation
Accountancy
answered on 14-Aug-22 12:45
Can I still start my preparation for dec 22 ca foundation is there enough time for it
latest answer
Very much yes, if you focus from right now
Atharv Sankliya
CA Final
★ 3K+
11
507
My honourable Suraj lakhotia sir plse check me
Accountancy
answered on 16-Aug-22 09:51
For an example : If the Raw material cost is RS 500 on this raw material partly maked some goods that worth is RS 600 ( finished goods) ..here I have to value which value ??? The market price of material is RS 450 Here which price I have to valuation of inventories.. Replacement cost when I have to use?? Plse guide me
latest answer
Yes - if FG are expected to be sold below cost.
MPR Sanjay Kumar
CA Inter
★ 530
3
510
Bank Reconciliation Statement
Accountancy
answered on 13-Aug-22 17:59
What is the meaning of credit side of bank column cast short What is the effect on cash book
latest answer
Bank is a real account so " Debit what comes in " and " Credit what goes out" ......in bank statement debit represents all incomes and receipt ..credit side is all expenses payment
Rishi jain
CA Final
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4
520
Please explain me
Accountancy
answered on 16-Aug-22 10:04
Could you please explain me this short clearly my dear friends
latest answer
Thank you so much my honourable CA sir
MPR Sanjay Kumar
CA Inter
★ 530
5
436
Profit or loss pre and post incorporation
Accountancy
answered on 13-Aug-22 21:57
When both date of incorporation and date of commencement of business given. Which one will be considered ?
latest answer
My honourable sir ,I watched the link video
Surya Ravi
CA Final
★ 4K+
3
471
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
499
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
556
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
444