Preparation of financial statements

answered on 11-Sep-21 13:37

In one illustration icai said that preliminary expenses are not shown in the B/S In another illustration icai said that preliminary expenses have been written off in line with AS... What is the correct adjustment

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Ok sir tqq

S.K Anusha

CA Foundation

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391

Doubt

answered on 10-Sep-21 19:25

Why do we dr. Creditors in branch accounts under debtors system in this sum ?

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Yeah understood Thank you

Sri kanaga Varshini

CA Final

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449

Basic

answered on 09-Sep-21 16:24

what is the difference between in the course of business & incidental to business?

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See the difference for expense 1) expense in the course of business - This is an expense which entity normally or mandatorly incurs to achieve its objective of business Example- material cost,operating cost 2) expense incedental to business - This expense entity incurs to its main objective Example- when company sends it's employees to outstation conveyance, lodging,meals expense , gratuities etc

Girinath A

CA Inter

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396

Partnership accounts. Joint life policy

answered on 11-Nov-22 21:37

Please say where I did wrong JLP realised for 26000.I distributed 26000 But they distributed only 6000(26000-20000{shown in books}).why did they done like that

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I will say thanks at Hyderabad meet sir

Sairam Reddy

CA Final

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482

AS 10

answered on 09-Sep-21 08:39

Asset acquired in exchange . Journal entry of the attached question ?

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My pleasure

Chandan Subudhi

CA Final

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380

Error in trial balance

answered on 03-Oct-21 17:15

When we will come to whether we have created any compensating or non compensating error in trail balance

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okay

Harsh sharma

CMA Inter

★ 55

8

446

Basic doubt

answered on 08-Sep-21 23:24

What is the logic behind using "To" and "By" in Ledger accounts?

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Thank you

Girinath A

CA Inter

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3

373

npo

answered on 08-Sep-21 16:10

sale of machine comes to which account b/s or I&E ? ifcomes in I&E which head its come ?

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In case of sale of fixed assets by a non profit organisation the gain or loss if any will be recorded in the income and expenditure account, the cash proceeds will be recorded in receipts and payments account and the cost of the amount is deducted from the respective asset in the balance sheet.

Fayis E

CA Inter

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340

We are studying as 2 inventories. As 16- borrowing cost like that . But my Q is totally how many AS are there and can you tell me how to see the full As names also

answered on 08-Sep-21 14:05

Q

latest answer

You will learn AS in CA intermediate , for foundation level just a brief knowledge is expected. In CA inter AS will be for 60 marks overall out of 800 marks

Balachandar S

CA Inter

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1

386

Investment accounts

answered on 08-Sep-21 08:28

When dividend received entry will be Bank a/c Dr To dividend a/c And dividend a/c Dr To p& l a/c. But y in investment a/c again they r crediting dividend (30,000) ???? Dividend should be credited to p& l a/ c ryt

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Done

anusha athikamsetty

CA Inter

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2

353