Forums

Fire insurance

Accountancy

answered on 04-Feb-21 19:06

Waht does the insurance company compare the insured stock with ?? STOCK ON THE FIRE OR DAMAGED GOODS ??

latest answer

Total stock as on date of fire.

Reetikaa R

Reetikaa R

CA Inter

7K+

1

263

Rectification of error

Accountancy

answered on 03-Feb-21 12:02

When do we need to use p&L adjustment account for rectification of errors

latest answer

For rectifying the errors detected in the next accounting period, a special account 'Profit and Loss Adjustment Account' is opened for correction of amounts relating to expenses and incomes.

nisam M

nisam M

CA Final

23K+

1

270

Accumulated depreciation

Accountancy

answered on 02-Feb-21 19:13

Why accumulated deprecaition method is used , what are advantages , if accumulated deprecaition is used then in balancesheet cost of the asset is shown know then it will not reflect the true picture know

latest answer

Or else the balance sheet would have shown only the net value of the asset

nisam M

nisam M

CA Final

23K+

5

328

New and old syllabus

Accountancy

answered on 10-Feb-21 20:51

Redemption of debenture & Redemption of preference share in new syllabus are same as in old syllabus? Or is there any difference. Im an old syllabus student, can i watch these chapters in new syllabus section.?

latest answer

Tq

AKHIL KOSHY

AKHIL KOSHY

CA Final

7K+

3

291

Query for commencing preparation !

Accountancy

answered on 01-Feb-21 10:47

To start with Accountancy in Ca Inter Group 1, Should I complete Accounting standards first and start with Practical chapters or I should complete all chapters first then Standards?

latest answer

Yes

Lalit Sanpal

Lalit Sanpal

CA Final

6K+

3

299

What is the reason why shares are issued at premium and not crank up the entire value to just face value?

Accountancy

answered on 31-Jan-21 10:34

For example why is it 100 + 20 premium and not just 120 face value?

latest answer

two reasons - a class of shares should have same face value. if you keep changing FV for every new issue - you will have to issue multiple classes - will be a nightmare to handle so many classes, identify their rights - Share premium can be used for several other purposes ( w/ o of discounts on debentures etc) without any major process but equity capital cannot be used to write off - reduction of capital is a painful process.

Kishore Anil

Kishore Anil

CA Inter

2K+

1

327

Unable to find 2 lesson

Accountancy

answered on 31-Jan-21 10:30

Sir pls help I am unable to find joint venture and royalty accounts chapters .can I know where this chapters are available.

latest answer

it is no longer in syllabus

Shreesha .T.u

Shreesha .T.u

CA Foundation

2K+

1

278

ANYBODY REPLY PLSð???ð???ð???ð???

Accountancy

answered on 01-Feb-21 08:11

Goods sent on approval ledger is opened in ledger book but why is it in format of journal?? Please reply

latest answer

Ok,i understood,thanks:)

Santosh pal

Santosh pal

CA Inter

820

7

281

Amalgamation

Accountancy

answered on 15-Feb-21 15:50

Sir if cash is not taken by purchasing company then can we consider it as Amalgamation in Nature of purchase.

latest answer

Inorder to incorporate the Statutory reserves,viz,Export profit reserve 200 &Investment allowance reserve 100,an equal debit is given to Amalgamation adjustment account.Here you did not provide the full problem so I can't say how 670 came.please show full question.

makthala venkateswarlu

makthala venkateswarlu

CA Foundation

510

4

321

Provision for Assets

Accountancy

answered on 30-Jan-21 10:53

If any changes are there for provisioning for std,sub std, doubtful & loss assets for Nov 2020 examination?

latest answer

Okay everthing cleared

Santhosh kv

Santhosh kv

CA Final

2K+

3

251

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