Doubt

answered on 14-May-22 15:59

If prepaid wages opening is 40 lacs and closing balance is 50 lacs.. And wages expense recorded in p&l is 800 lacs.. What is the cash paid.

latest answer

Cash Expenses = Expenses on Accrual basis â?? Prepaid Expenses in the beginning and Outstanding Expenses in the end + Prepaid Expenses in the end and Outstanding Expenses in the beginning

Shru Kanda

CA Inter

★ 610

5

257

Branch accounts doubt

answered on 14-May-22 12:59

Why in illustration 8 stock reserve is not shown in outlet stock account

latest answer

Here the question is to determine profit/loss made by outlet considering wholesale price as cost to outlet.

Sahil walia

CA Inter

★ 5

1

259

Branch accounts doubt

answered on 14-May-22 13:00

How in illustration 7 in woking note 3 602750 is written fron where does it come.

latest answer

Addition to plant and machinery given in the question

Sahil walia

CA Inter

★ 5

1

274

Branch accounts doubt

answered on 14-May-22 14:01

Please tell collection from debtors entry in head office books and branch books.....there is no photo of this....i am just asking journal entry

latest answer

Yes he is a teacher. Admin represents Faculty

Sahil walia

CA Inter

★ 5

5

260

Branch accounts doubt

answered on 14-May-22 13:08

Why in illustration 14 goods are not shown at invoice price and stock reserve is created,, and why in closing stock 80%of 3000 is taken

latest answer

Since branch is not preparing and trading accounts etc. HO will prepare the P&L as if it itself has done the transactions. So all items are recorded at cost.

Sahil walia

CA Inter

★ 5

1

276

Financial statements( managerial remuneration)

answered on 14-May-22 12:48

These not to be deducted for computation of profit Please explain the point C

latest answer

loss of a capital nature not including any excess of the written-down value of any asset which is sold, discarded, demolished or destroyed over its sale proceeds or its scrap value

Subash Chandrabose

CA Final

★ 32K+

2

271

Branch accounts doubt

answered on 14-May-22 13:11

Explain loss by theft journal enrry in illustraation13 and why in this question profit and loss account is prepared when it is not asked to.

latest answer

When you send goods to branch - you debit branch When the branch did not receive goods because of loss You debit loss and credit branch P&L Is prepared for the first entry

Sahil walia

CA Inter

★ 5

1

237

AMENDMENTS

answered on 14-May-22 12:24

SLR CRR RATE

latest answer

Actually I have not started the branch accounts chapter, thatâ??s why hadnâ??t responded the queries When I am aware of the answers, will surely respond

Prasanna Venkatesan

CA Inter

★ 3K+

3

316

Branch accounts doubt

answered on 14-May-22 13:17

Why in illistration 3(a) and illustration 6 in branch stock account loading and stock reserve is not written and why separate adjustment account is made here for these , how would we know that when to make adjustment account

latest answer

These two illustrations are based on different methods. Please read theory given before the illustrations to understand these.

Sahil walia

CA Inter

★ 5

9

303

Branch accounts doubt

answered on 14-May-22 10:58

Why in illustration 1(b) in branch expense account To expense is written , it should be To HO

latest answer

No. In the last entry Branch becomes our debtor. See it I have debited branch A/c

Sahil walia

CA Inter

★ 5

3

379