Forums
Journal entry
Accountancy
answered on 19-Jun-22 01:49
Can anyone explain this four4 transactions?
latest answer
There is not a big difference between petty cash and cash account.. Petty cash means a certain portion of amount will be kept and managed by a cashier called petty cashier for day to day operating expenses.. But cash account is not like that.. In the 3rd question there is a specific mention about the usage of petty cash that's why we drawn out of petty cash..
Sai G
CA Inter
★ 6K+
7
608
Npo
Accountancy
answered on 19-Jun-22 00:24
Can anybody help me that why opening balance sheet is showing" 400+100 " amount of honorarium
latest answer
*expense 100 and honarium 400
Nai Jay
CA Inter
★ 7K+
5
533
Measurement bases
Accountancy
answered on 18-Jun-22 18:44
Liabilities are carried at the undiscounted amount of cash or cash equivalents that would be required to settle the obligation currently. This is the treatment for liabilities under current cost basis. Here, what is the meaning of undiscounted amount of cash and cash equivalents? Pls explain.
latest answer
Ok sir. Thank you!
Sibi Srinivasan
CA Final
★ 22K+
2
516
Journal entry
Accountancy
answered on 17-Jun-22 22:16
Discount received results in asset increase then why it is credited? ð?¤?ð?¤? *13 question
latest answer
Tq
Sai G
CA Inter
★ 6K+
9
952
Account
Accountancy
answered on 17-Jun-22 20:19
Is it right? ( he withdrew cash from business for personal use) Cash alc dr To bank alc
latest answer
There is a option available in Indigo learn application ,where u find study planner if u enter all ur details it will draft a plan for u .follow that ...
Sai G
CA Inter
★ 6K+
8
531
Doubt
Accountancy
answered on 20-Jun-22 16:58
Can any one explain the exact concept of conservatism and realisation it's some what tough to understand
latest answer
OK sir thank you
sai t
CA Foundation
★ 2K+
9
717
Journal entries
Accountancy
answered on 16-Jun-22 21:46
Why? cash alc dr xxx To bank alc xxxx Can we write ? drawings alc dr xxx To cash alc xxx
latest answer
Tq
Sai G
CA Inter
★ 6K+
3
571
Basics
Accountancy
answered on 17-Jun-22 14:38
What's the difference between inventory and purchases, aren't they both almost the same?
latest answer
When you purchase goods, the actual accounting entry that should happen is INventory Dr. To Creditor When the goods are sold Cost of Goods Sold To Inventory (For simplicity sake, we directly debit purchases account and treat it as an expense - academically)
Vaibhav Gupta
CA Final
★ 18K+
6
553
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
726