trading account

answered on 04-Sep-21 13:13

how insurance came in trading account

latest answer

It indicates the Insurance Premium actually ...

Fayis E

CA Inter

★ 5K+

3

563

Buy back

answered on 04-Sep-21 16:05

is "premium on buy back a/c" a nominal a/c?

latest answer

Premium on buyback is an extra amount that required to pay by the company on buy back of the existing shares in the market. So it is a nominal account, we charge this amount(ie.something extra we paid) to the p&l

Girinath A

CA Inter

★ 765

1

338

Three coloum cash book

answered on 03-Sep-21 23:51

In this question it's already given that cheque are to be treated as cash receipts then why in this transaction we are directly considering cheque as bank account, why it should not be first treated as cash received and then cash transferred to bank

latest answer

yes i wish you get and i'll send u my account number donate 50% of your earning.....bcoz that's what great personalities do...lol

Harsh sharma

CMA Inter

★ 55

8

404

As5

answered on 04-Sep-21 16:10

Change in the method of depreciation from straight line to wdv - change in accounting estimate,(why not change in accounting policiy)

latest answer

For more refer Ind As

OMKAR REDDY

CA Inter

★ 6K+

3

387

As5

answered on 06-Sep-21 09:28

Legislative changes having long term retrospective application- Ordinary Activity why?

latest answer

They are not once in a blue moon they keep happening like tax gets amendments every year and on regular basis, but earthquake(extraordinary item) doesn't happen regularly hence the distinction , we disclose the nature and amount of such items . Although these items are not â??extraordinary itemsâ??,

OMKAR REDDY

CA Inter

★ 6K+

1

341

Investment account

answered on 03-Sep-21 15:39

How to find the profit and cost if two sales have been made in the same financial year.

latest answer

ok mam thank you

Susai Yappan

CA Inter

★ 12K+

4

331

Inventory

answered on 04-Sep-21 22:36

How to study and clear concepts of inventory valuation?? I found that chapter very difficult to understand!!ð???

latest answer

Thankyou I'll try ma best!

Vaishnavi Thakare

CA Foundation

★ 4K+

3

404

PSR

answered on 03-Sep-21 12:22

In case 5 of the below attachment, pls check the new profit sharing ratio, according to my calculation th new PSR is 7:5:3

latest answer

Thank you for the response

Vijay K

CA Inter

★ 9K+

3

416

Doubt

answered on 04-Sep-21 16:17

Is there any difference between P&L cr. balance and Reserves and surplus?

latest answer

Reserve and Surplus includes usually all type of reserves . In balance sheet it will appear as follows: Example; RESERVE & SURPLUS(10+20+30+40+50) 1.profit &loss a/c 10 2.securities premium 20 3.general reserve 30 4.revaluation reserve 40 5.other reserves 50

Girinath A

CA Inter

★ 765

2

356

Amalgamation

answered on 03-Sep-21 11:39

Why we are not incorporating statutory reserves in purchase method and why we have to create amalgamation adjustment reserve account , why the different treatment from merger

latest answer

Thus to incorporate statutory reserves in transferee books, this adjustment reserve is created

Gobi k

CA Inter

★ 12K+

4

530