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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
419
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
558
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
494
Accounting standard framework
Accountancy
answered on 16-Aug-22 10:14
How to determine historical cost of liability
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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
453
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
514
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
581
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
558
What to.learn ?
Accountancy
answered on 11-Aug-22 17:39
Should I start inventory ch or final accounts ch ?.....which is good to start?
latest answer
Oh thanks
Priyamvatha Parthasarathy
CA Foundation
★ 5K+
4
458
As 2 valuation of inventories
Accountancy
answered on 11-Aug-22 10:24
My dear Friends As per Accounting standard 2 valuation of inventories should be valued at lower of cost under net realisable value which server is lower. Is there any specific recognition criteria for the following as How to valuation of inventory raw material How to valuation of inventory working progress How to valuation of inventory finished goods Could you please explain the recognition scratory of this as per Accounting standard to valuation of inventories
latest answer
Thank you sir
MPR Sanjay Kumar
CA Inter
★ 530
2
531
Inventory
Accountancy
answered on 11-Aug-22 10:46
I have little bit problem to solve this so any one can provide me it's solution
latest answer
If you have any specific doubt on this, let us know.
Samarth Kshatriya
CA Inter
★ 1K+
2
430