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As 4
Accountancy
answered on 01-Aug-25 16:58
Is it a adjusting event or non adjusting event ? Reason ?
latest answer
Reason - substantial part of transaction is completed. Only formality of registration is pending. Substance over form.
Sri ram Pothineni
CA Inter
★ 11K+
3
214
Question
Accountancy
answered on 02-Aug-25 16:04
In the Plymouth LTD Illustration, the amount of 0.42L which is to be charged off to P&L A/C, can we call such amount as IMPAIRMENT LOSS? PLEASE EXPLAIN
latest answer
Thankyou Sir
Mohamed Kaiz
CA Inter
★ 5K+
2
209
Introduction to partnership accounts Calculation of effective capital
Accountancy
answered on 01-Aug-25 17:02
Calculation of effective capital in icai study material and my way both are different but the process is the same Will icai give full marks for my answer for format I followed to calculate effective capital I have shown in my format how capital has been changed by additional capital and drawing of partner
latest answer
If the final answer is same, you will get marks.
Gurukanta Singh
CA Inter
★ 19K+
1
468
Final accounts of sole proprietorship
Accountancy
answered on 21-Jul-25 15:34
It looks like there has been an error in pl which has been revised Sir has seen that Prepaid insurance is an asset which has been treated as revenue by putting it in the credit side of the pl account The prepaid insurance is to be deducted from profit not to be added
latest answer
Whether you deduct from expense side or add to income side, the final impact is same.
Gurukanta Singh
CA Inter
★ 19K+
4
251
Rectification of error (one sided error)
Accountancy
answered on 14-Jul-25 22:18
In a previous illustration, i.e. Illustration 1 in this video course series, one sided error has been rectified by making a note. Whereas, in this Illustration 3, a similar one sided error has been rectified by debiting suspense a/c. Please explain the difference between the two cases?
latest answer
Before and after preparation of trial balance
Albert P
CA Foundation
★ 840
1
344
How to give answer properly in CA exams as per ICAI expectations
Accountancy
answered on 13-Jul-25 12:12
Dear toppers / students and mentors Please tell how to answer icai expectations point of you for case study accounting Income Tax sums and also theoretical paper so could you please give me the guidance how to exposing answer sheet Because I attend four attmepts still not clear thars why Iam writing but marks not So please explain
latest answer
Thanks 👍 friend from tamilnadu
MPR Sanjay Kumar
CA Inter
★ 530
2
313
About ammendment in syllabus
Accountancy
answered on 14-Jul-25 15:30
Is this the new topic added for CA foundation that is there for Inter syllabus
latest answer
Yes. In inter you have a full subject on GST.
Bhavagna reddy Puli
CA Foundation
★ 730
1
283
Change in life of asset
Accountancy
answered on 11-Jul-25 09:27
Sir as we have seen when the revised life of asset came down from 7 to 5 then we divided the amount by 5 But if the revised life of the asset went from 7 to 8 then we should divide it by 8 [video Time Stamp: 05:55]
latest answer
Yes.
Gurukanta Singh
CA Inter
★ 19K+
3
207
Depreciation method
Accountancy
answered on 09-Jul-25 16:53
As stated there are different types of methods of depreciation In firms they choose depreciation as per their requirement or it is prescribed by companies act or any other act which method is to be applied in which type of industry As I know, SLM helps firms to save tax by charging a higher amount of depreciation to assets and transferring depreciation to P/L A/C SLM will be allowed in certain industry Which act prescribe which method of depreciation is applicable in which industry [video Time Stamp: 00:02]
latest answer
YEs
Gurukanta Singh
CA Inter
★ 19K+
9
247
Depreciation
Accountancy
answered on 08-Jul-25 16:54
The car is depreciated annually at 100000 Acquisition cost is 600000 Residual value at 5th year is 100000 Car insurance for theft, mechanical fault,fire is 600000 What would be the treatment for the car A/C in following situation Situation 1 In 3rd year due to a mechanical fault the car is not in working condition and we have to sell the car for 100000 in mid of the financial year Situation 2 In the 4th year due to certain circumstances the car has been theft and for 6 months we were not able to find the car The theft has happened in a month of may
latest answer
You need to compute depreciation till date of breakdown / theft. Difference between carrying amount and proceeds received is gain/loss
Gurukanta Singh
CA Inter
★ 19K+
1
231