Adjustable selling price method

answered on 12-Aug-24 15:29

In illustration 7 of the icai textbook, they have asked to find the non historical cost of closing inventories. In the last step, the calculated the rate of gross margin which is 20%. They have minused 20% from 50,000 to get 40,000. Why?

latest answer

Sales - Cost = Gross Profit So Cost = Sales - Estimated GP

Ornitha Shree U

CBSE XI

★ 0

2

131

As 10

answered on 09-Aug-24 10:56

Depreciation sums in book back can't able to understand amd also revaluation sums

latest answer

How did you do your preparation?

Gomathy D

CA Inter

★ 0

1

136

Consolidation of financial statements

answered on 09-Aug-24 11:57

Generally we calculate cost of control on date of acquisition.Therefore why haven"t they considered 3000 lakhs (share capital as on date of acquisition) as share capital and solved cost of control? why have they considered 4800 lakhs which as at 31 march 2021 as the share capital and solved cost of control?

latest answer

yes

Niveta Rajkumar

CA Inter

★ 6K+

3

156

AS 10 MCQ

answered on 13-Aug-24 11:45

Why the answer is not 1,00,000 but 1,08,000?

latest answer

Will update the answer. Thanks.

Niveta Rajkumar

CA Inter

★ 6K+

3

194

AS 10

answered on 09-Aug-24 09:26

what is the difference between carrying amount and written down value wrt the concepts of AS 10 ?

latest answer

Carrying value is the value of the asset that appears in the balancesheet Written down value is the value of the asset after it has been reduced due to impairement or depreciation

Niveta Rajkumar

CA Inter

★ 6K+

2

156

Internal Reconstruction

answered on 09-Aug-24 20:23

Please explain journal entry no. 5

latest answer

Better

Sagar Kathuria

CA Inter

★ 3K+

4

126

AS22

answered on 11-Sep-24 20:34

How to solve this question Method ?

latest answer

Thanks a lot

Lucky Ten

CA Inter

★ 0

5

233

AS 22

answered on 13-Aug-24 11:46

How to solve 7 th question. Method?

latest answer

https://youtu.be/WMJWDyKp3X0?si=6a4M0eQGxOsmMU_e

Lucky Ten

CA Inter

★ 0

1

176

Transactions and Events

answered on 12-Aug-24 10:19

Since transactions are all the activities of the business and events are the positions, can we say that transactions are all those which are found in P/L and that events are all that is reflected in the B/S?

latest answer

Event is nothing but the final outcome of business activity, which affects the account balances of a company Transaction involves exchange of goods/services for value between more than one party, firm or accounts

Devika Venu

CA Foundation

★ 0

2

162

Buy Back

answered on 07-Aug-24 23:32

Why did we create Capital Redemption Reserve 300000 and not 500000? (4th Journal Entry)

latest answer

Got it ... Thanks

Sagar Kathuria

CA Inter

★ 3K+

2

122