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Profit or loss pre and post incorporation
Accountancy
answered on 05-Jun-22 18:22
Why bad debt recovery has double effect? Please elaborate
latest answer
Bad debts recovery is not related to this year so we shouldn't deduct them from bad debt and As the bad debt are recovered they are recovered from PY debtors it's a income so it should be shown as income and it is pre incorporation only
Rinuja TK
CA Inter
★ 10K+
2
750
Ind AS 12 Income taxes
Accountancy
answered on 08-Jun-22 14:53
In identifying the expectations for the Deferred Tax Asset or Deferred Tax Liabilities (DTA/DTL), In a transaction where it is not a business combination & neither impacts accounting PROFIT or taxable PROFIT - in such case no DTL/DTA to be recognised. Doubt:- where the transaction impacts only the accounting LOSS, is DTA/DTL to be recognised or not
latest answer
Yes
Chandu vadla
CA Final
★ 11K+
1
376
Liquidation expenses doubt
Accountancy
answered on 03-Jun-22 20:16
Why good will account to be debited in case of Liquidation expenses is paid by purchasing company in purchasing method
latest answer
Thanks
Venkatesh .
CA Inter
★ 4K+
7
497
Partnership accounts
Accountancy
answered on 03-Jun-22 11:51
In May 22 paper, dissolution of partnership firms question. Instead of doing adjustments in p/l adjustment account I did the adjustments in realization account. Is it OK?
latest answer
No problem
Nikhil Vasanth
CA Final
★ 4K+
3
309
Bank Reconciliation Statements
Accountancy
answered on 03-Jun-22 09:19
What is the meaning of initials on right side of pass book format
latest answer
It's sign
Subramanyam N
CA Inter
★ 6K+
5
317
Consolidated financial statements
Accountancy
answered on 11-Jun-22 21:43
Sir/mam , can you please explain me the reserve working note. Another doubt is how change in opening inventory will not affect p and l. It will change the closing profit know sir/mam.
latest answer
Thank you sir
Umayal Lakshmanan
CA Final
★ 6K+
3
282
Preference share capital
Accountancy
answered on 02-Jun-22 00:32
Is preference share capital part of equity or liability in the balance sheet as this is also an external liability
latest answer
Ok
Vaibhav Gupta
CA Final
★ 18K+
12
592
Consignment
Accountancy
answered on 07-Nov-23 11:49
A of Ahmedabad consigned 1000 units of bed sheets to B of Bangalore each costing â?¹1,000 adding a load of 16 2/3% on invoice price. A paid â?¹20,000 for carriage â?¹10,000 for insurance and â?¹15,000 for freight for transporting the goods. Bed sheets of invoice value â?¹60,000 were destroyed in transit for which insurance company admitted a claim of â?¹ 40,000. B took delivery of remaining goods and paid â?¹5,700 as clearing charges, â?¹10,000 for storage and â?¹6,300 for selling expenses. B sold 20% of the goods received adding 10% profit on invoice price for cash, sold 50% of goods received so as to get 20% profit on selling price (over invoice price) and kept 10% of the goods with himself. B was to be given commission of 5% on total sales at invoice price, 3% del credere commission on credit sales and 10% commission on surplus sales over invoice price. Can someone show the workings of the total sales to be written for the above question?
latest answer
Invoice price = 1200 damaged = 60,000/1200 =50 Remaining 950
Pranaya Ramaprasad
CA Foundation
★ 0
4
1K+
AS-4
Accountancy
answered on 31-May-22 11:07
in AS-4 chapter, If the Question is neutral and does not gives the significance of loss which affects the going concern. can we assume on our own and write a note of our assumption at the end of our answer?
latest answer
YES
Vijay adithya
CA Inter
★ 5K+
4
356
Applicability & Non Applicability of Accounting Standards
Accountancy
answered on 30-May-22 16:36
What sort of questions can we expect from Applicability & Non Applicability part?
latest answer
Recently asked questions from that chapter is concepts related to SMC and non SMC and it's levels
Swetha S
CA Inter
★ 15K+
4
463