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Trial Balance and Journal
Accountancy
answered on 19-Jun-22 15:27
Sir / Madam, I request you please clarify the following (1)Provision for Bad and Doubtful debts - Asset Or Liability; Nominal or Real Account; Debit or Credit balance (2)Provision for Depreciation - Asset Or Liability; Nominal or Real account; Debit or Credit Balance (3)Opening Stock - Asset Or Expense; Nominal or Real account From the following information write the necessary journal entries (1) Amount receivable from Kumar Rs.4,00,000, written off as bad debts, nothing was realised from his estate (2) Amount receivable from Surya Rs.10,00,000, written off as bad debts, 6,00,000 was realised from his estate (3) Amount receivable from Charita Rs.20,00,000, written off as bad debts, 8,00,000 was not able to recover from his estate (4) Amount receivable from Amrutha Rs.10,00,000, Previously written off as bad debts, now realised (5) Amount receivable from Amith, Previously written off as bad debt,Rs.20,00,000, now realised Rs.14,00,000 From the following information write the necessary journal entries for the current year and next year Examples:- Current year - 2020 and Next Year - 2021 (1) Outstanding Salaries Rs.10,000 (2) Prepaid Insurance Rs.5,000 (3) Accrued interest Rs.7,000 (4) Commission received in advance Rs.8,000
latest answer
Nice explanation same diubt
Vijay Kumar Velagapudi
CA Foundation
★ 175
6
1K+
Profit prior to incorporation
Accountancy
answered on 15-Jun-22 10:28
In case of date of certificate of incorporation and date of certificate of commencement is also given then which date should be considered for calculating time ratio?
latest answer
But in case of public company date of commencement is necessary
Hrishikesh Ransing
CA Final
★ 4K+
6
702
Amalgamation of companies
Accountancy
answered on 13-Jun-22 09:42
Sir, In illustration 1 the study material is having rs. 8000 as purchase consideration . But we have arrived rs. 18000 as PC in class. Which one is correct sir?
latest answer
Actual purchase consideration is 18,000. The second part assuming that entry is to be made at par value then it is 8000. It is solved in the class. Please watch the video fully.
vs navin
CA Final
★ 1K+
1
459
Item of bank balance sheet
Accountancy
answered on 13-Jun-22 09:44
what are the undisclosed reserve? Just one example or why bank maintain it?
latest answer
Bank keeps aside some reserve without specifying the purpose to public. It could be any reserve.
Hrishikesh Ransing
CA Final
★ 4K+
1
400
Chapter 1
Accountancy
answered on 11-Jun-22 19:01
Meaning of point d last 3 lines
latest answer
Tnx bro
Sugam SM
CA Final
★ 9K+
3
441
.
Accountancy
answered on 18-Jul-22 14:28
Difference between money measurement concept and matching concept
latest answer
Matching concept says that revenue and expense relating to a financial year should be matched with the same year and should not be carried forward to subsequent years.Money measurement concept says that all the transactions should be denoted in terms of money and not in other terms
Be The Change
CA Inter
★ 11K+
5
572
Ca foundation
Accountancy
answered on 13-Jun-22 09:45
Why is freight on credit purchases credited to creditor's account?
latest answer
You can credit it to freight payable as well.
Monisha KM
CA Inter
★ 825
10
479
What will be the ratio of dividing COGS?
Accountancy
answered on 11-Jun-22 12:56
What will be the ratio of dividing COGS? Since Sales has increased do we need to take COGS in proportion of Sales.
latest answer
firstly, find out the sales ratio and then to calculate total income: - you can divide the sales and COGS separately in sales ratio, or - calculate (sales - COGS) you'll get gross profit i.e. (sales-COGS=GP) and then divide GP in sales ratio both the options give the same answer.
Hrishikesh Ransing
CA Final
★ 4K+
4
540
Partnership ac
Accountancy
answered on 11-Jun-22 16:35
I have uploaded the question and my own answer here .. I am getting realization ac ans correct but can u plz help where I am making mistake in cap or cash ac
latest answer
solvent partners should bring in cash equal to their realisation loss
PANTH PANCHOLI
CA Inter
★ 4K+
1
560
Redemption of preference shares
Accountancy
answered on 13-Jun-22 09:49
'To ensure that the interests of outsiders are not reduced, Section 55 provides for redemption of only fully paid-up shares.' Based on about please explain how redemption of partly paid-up shares affect the interests of outsiders?
latest answer
Partly paid up shares have some liability to the company. If you redeem them, the creditors would be at a loss - since someone who was supposed to pay money to the company is not paying. Also when fully paid up shares are redeemed, we transfer FV of the shares to CRR to ensure that the amount is not distributed as dividend.
Rinuja TK
CA Inter
★ 10K+
1
498