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Balance sheet
Accountancy
answered on 12-Oct-21 19:15
Generally, assets are on the right side and the liabilities are on the left side for sole proprietorship concerns. And for companies, liabilties- top Assets- bottom But, in the image below, it's opposite. Pls clarify.
latest answer
Oh ok sir.
Sibi Srinivasan
CA Final
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2
396
Doubt
Accountancy
answered on 12-Oct-21 20:16
While preparing List H deficiency account in below attached ques we have to write as per book or as per indigo learn what sir has told
latest answer
OK sir thank you
Miradevi S
CA Final
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2
421
Partnership
Accountancy
answered on 12-Oct-21 14:56
Why Goodwill in balance sheet should be transferred to dr of old partner in O/R
latest answer
When a new partner is admitted, goodwill of the business is valued afresh. For this, the goodwill that already appears in the books of accounts is written off and is transferred to the old partner's capitals accounts in their old profit sharing ratio. The old partner's capital accounts are debited with their share of goodwill.
Dhakshana Dhakshana
CFA L2
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377
Doubt
Accountancy
answered on 12-Oct-21 11:46
Is Cashbook updated personally after seeing the pass book or it has automatic process now ?
latest answer
Thank you ! Now I got my answer !
Rugved Didolkar
CA Inter
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4
381
Doubt
Accountancy
answered on 12-Oct-21 11:38
Can someone please tell difference between cheque book & cashbook ? Im doing ca foundation.
latest answer
Anyways thanks for trying to explain....
Rugved Didolkar
CA Inter
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6
443
Not for profit organisation
Accountancy
answered on 12-Oct-21 07:03
In this question , y purchase of machinery is taken without depreciation . I ve written my solution at the end . Plss tell me y purchase amount is wrong ??
latest answer
The balance given in question at year end is without charging depreciation
Reetikaa R
CA Final
★ 7K+
1
378
Not for profit organisation
Accountancy
answered on 14-Oct-21 10:37
Is Face value of investment and cost price different?? Or same ?? Also , interest on investment is computed on fave value or cost price ??here, cost price, I mean to say book value .
latest answer
no. The price at which you purchase would be the cost.
Reetikaa R
CA Final
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5
447
Partnership accounts
Accountancy
answered on 12-Oct-21 14:08
In memorandum revaluation account profit distributed old partner and loss distributed all partner (old & new) Why?????
latest answer
Ok now I understand Thank you ma'am
Sejal Shivani
CA Foundation
★ 5K+
7
886
Insurance claims
Accountancy
answered on 10-Oct-21 21:59
Can anyone say exactly What are unsured standing charges If in question there is trading and p&l account and from that how to identify insured standing charges and uninsured standing charges
latest answer
Below are broady standing charges that needs to be insured. Ones not insured, will be uninsured. Interest on Debentures, Mortgage Loans and Bank Overdrafts, Rent, Rates and Taxes (other than taxes which form part of net profit) Salaries of Permanent Staff and Wages to Skilled Employees, Boarding and Lodging of resident Directors and/or Manager, Directorsâ?? Fees, Unspecified Standing Charges [not exceeding 5% (five per cent) of the amount recoverable in respect of Specified Standing Charges]. Generally, in questions, you will have info about insured and uninsured. In few illustrations, they will give part information like - Out of the standing charges only such amount has been insured, and you will have P&L account given. Then you should first identify what expenses are standing in nature and then find uninsured. Example: In ICAI Illustration 11, they have given standing charges insured were 50k. From P&L, you find that administrative and finance charges are standing (as they are fixed in nature), there total is 1.8L, but since only 50k are are insured, 1.3L will be insured. Here, selling expenses will not be considered as standing as they are variable.
Sairam Reddy
CA Final
★ 10K+
2
472
Doubt in NPO
Accountancy
answered on 10-Oct-21 21:58
Please help me on solving attached question
latest answer
Thank you sir
Aarvi Shah
CA Foundation
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13
566