Forums
As 3
Accountancy
answered on 28-Sep-21 06:16
How should I know which method to use to solve problem direct or indirect if not specified
latest answer
If nothing is mentioned and you have the information for indirect method i.e. profit and loss account and balance sheet use indirect methof
Kalash Ojha
CA Inter
★ 465
3
390
As 3
Accountancy
answered on 28-Sep-21 10:45
Why in reserve and surplus 16000 amount is cr. To reserve and srplus why not 23000. And also why dividend paid is shown on Dr side of reserve and suplus it can also be show to financing activity
latest answer
Profit for the year is 16,000. 23,000 is profit before taxes.
Kalash Ojha
CA Inter
★ 465
3
387
Insurance claims
Accountancy
answered on 28-Sep-21 20:17
Why did ICAI not apply downward trend in sales to standard turnover and annual turnover?????
latest answer
Because here it can't be caluclated directly. That quarterly sales figure is approximation only, thus there is no direct trend that is visible. Also, the question is silent, so we shall ignore it.
B. S. V Subramanyam
CA Inter
★ 50
2
330
General ledger
Accountancy
answered on 27-Sep-21 22:40
What is the difference between sales ledger and general ledger?
latest answer
Sales ledger contains all sales regarding both credit and cash sales. All the sales will be shown in general ledger. General ledger contains all types of accounts from journals and sub-ledgers. General ledger is also known as nominal ledger.
Rakesh Shah
CA Final
★ 5K+
1
381
Fs of companies
Accountancy
answered on 27-Sep-21 21:15
Y provision for taxation is not considered for cal of np ?? Wt's the reason behind this ?
latest answer
Yeah done
anusha athikamsetty
CA Inter
★ 65
2
383
Liquidation of companies
Accountancy
answered on 27-Sep-21 21:54
In question they 70 being called and paid up Then why in answer they take 30 as called up value
latest answer
The liability of a B list contributory is restricted to the amount not called up when the shares were transferred For example,. If face value of a share is 100 Paid up -75 Maximum amount to be called - 25 They don't need to pay more than the face value of a share
Balaji R
CA Final
★ 20K+
1
395
Employee stock option plan
Accountancy
answered on 28-Sep-21 11:43
In illustration 5 in ICAI book.... 1,20,000 is taken to General reserve at the end of 3rd year. Can we do as mentioned below? Instead of taking 1,20,000 to general reserve....and without accounting expense in 3rd year and..... accounting expense of 40,000 in the 4the year.... and accounting 80,000 expense in the 5th year.... Can we do like this? (Computation pic is attached below)
latest answer
Thank you so much.... Mam
Girinath A
CA Inter
★ 765
2
459
Liquidation of companies
Accountancy
answered on 27-Sep-21 14:15
Sir this they spefically said bank OD 30000 will pay from DIRECTORs personal resources. Then why they shown in "liquidators final settlement account" as its are paying from asset which are realised
latest answer
The company will need to repay the directors.
Balaji R
CA Final
★ 20K+
1
342
Partnership
Accountancy
answered on 27-Sep-21 11:35
Why are prepaid expenses not realised?
latest answer
You will not get refund in most cases. Say you paid for insurance for a year. Insurance company is not going to refund you the premium.
Aman Mahajan
CA Final
★ 19K+
1
447
Doubt
Accountancy
answered on 27-Sep-21 14:17
Why this income in not reduced from cost of construction...As asset is still in construction...if not then in which case we would have reduce income from cost of asset Also what is incidental operations (income & expenses) both .
latest answer
Happening due to the PPE being acquired or constructed.
Kalash Ojha
CA Inter
★ 465
3
387