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As 4 nd as 29
Accountancy
answered on 25-Feb-22 11:34
Should I study as 4 and as 29 Separately or study both together ?
latest answer
The treatment is already explained above.
Nivetharaman Raman
CA Foundation
★ 11K+
5
359
Acc
Accountancy
answered on 24-Feb-22 10:30
can anyone explain the seventh point which was given in below image in simple.terms..... Tq.
latest answer
A Ltd (lessee ) takes a building for 50 years with economic useful life of 55 years from B Ltd(Lessor) . As per lease agreement , at the end of lease period the ownership title of the building will be transferred to the lessee, then although lessor is legal owner till last instalment is paid, according to the economic reality, A Ltd is like the owner, because lessee is controlling building and is deriving maximum economic benefits from it and lease term is as good as useful life. So according to this concept the building will be recorded as an asset in the financial statement of the company, will be depreciated as any normal asset, and remaining payments will be deemed as a decrease in liability rather than lease rental.
Balachandar S
CA Inter
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3
443
Inventory
Accountancy
answered on 24-Feb-22 10:35
Purchase during 1st April 29 April amounting to 10000 goods amount to 2000 not received till the date of stock
latest answer
Adjust 8000
himanshu vyas
CA Inter
★ 0
1
353
Partnership
Accountancy
answered on 22-Feb-22 10:50
What is the difference between partner's capital AC and profit and loss appropriation ac? And when is it used? Respected faculties please help me clear my confusion. Thank you.
latest answer
Capital accounts yes. P&L appropriation is usually not required to be made at that time.
Chris Topher
CA Foundation
★ 5
4
364
Basicz
Accountancy
answered on 21-Feb-22 07:54
Is Leasehold premises currant asset or non currant assets?
latest answer
If someone has taken on an operating lease - it is not an asset in their books. If someone has given an operating lease it is a noncurrent asset. If it is a finance lease - pls check for treatment in AS 19
Sumita Shah
CA Inter
★ 2K+
1
397
Triple column Cash book
Accountancy
answered on 21-Feb-22 09:47
So here Adit transaction(7thMarch) should be actually in cash column as per condition of question saying all cheques treated as cash receipt initially.So is this right or Is study material right? I think I am right as per condition of question.
latest answer
Please post the question
Sugam SM
CA Final
★ 9K+
1
325
Financial statements
Accountancy
answered on 19-Feb-22 09:41
How to treat Provision for taxation :- 50000 Income tax paid :- 40000 While preparing profit and loss account and balance as per schedule 3.
latest answer
PL dr 50000 BS Provision 50000 liability Advance tax 40000 asset
Hemanthkumar Hemanth
CA Foundation
★ 670
1
321
Chapter 1
Accountancy
answered on 19-Feb-22 09:17
can anyone explain the third question of sub part no -01 was given in below image With logic also pls anyone......
latest answer
Ok sir
Balachandar S
CA Inter
★ 59K+
4
351
Bill of exchange
Accountancy
answered on 19-Feb-22 11:59
Can we give an Part to X on second bill drawn by Y
latest answer
There seems to be a missing line in question after with he help of which the first bill, but yes usually some amount will be given to X.
Gaurav Vyas
CA Foundation
★ 0
1
367
Accounting concepts
Accountancy
answered on 19-Feb-22 05:05
What are the two basic difference among Accounting concepts, principals and conventions ?
latest answer
* Concepts-------- assumption having Universal application based on which financial statements are prepared *conventions:----- rules as per usage practice and Customs *principal------- rules relating to theory and procedures Note: about three are known as (GAAP) -}}} Generally Accepted Accounting principles which is backbone of accounting system
Jitendra Kumar
CA Final
★ 41K+
1
430