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Company
Accountancy
answered on 22-Oct-21 23:06
How a company is differ from the sole proprietor?
latest answer
Ah sorry again ! It was right. It's unlimited liability company
Vijay K
CA Inter
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4
529
Partnership accounts
Accountancy
answered on 23-Sep-21 00:45
In the below attachment they have given wrong answer right? The answer had to be 7:5:3 Can anyone help me out with this
latest answer
It's 7:5:3. It's right
Soumya A
CA Inter
★ 20K+
7
492
Bank Reconciliation Statement
Accountancy
answered on 29-Sep-21 11:06
Prepare Bank Reconciliation Statement
latest answer
Yes but in the pass book we have passed carect entry In cash book wrong entry passed so we make wrong entry to write entry
Aditya Birla
CBSE XI
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9
609
Bank Reconciliation Statement
Accountancy
answered on 21-Sep-21 20:22
Prepare Bank Reconciliation Statement
latest answer
Solution
Aditya Birla
CBSE XI
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1
490
Branch Accounting
Accountancy
answered on 22-Sep-21 12:42
In trading p&l method , when goods are sent at invoice price Should we convert opening stk , closing stk , goods recd. from headoffice and those returned them back at cost OR Value everything invoice price only and DEBIT stock reserve of CLOSING STOCK in p&l ??
latest answer
Branch profit will be in the Trading account itself. So, it will be unrealised profit in the closing stock. Pls refer Illustration 5 on ICAI SM 13.29 for better understanding
Lalit Sanpal
CA Final
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3
534
Notes
Accountancy
answered on 28-Oct-21 13:18
Where is this question available in pdf notes??
latest answer
Please check, the pdf with additions has been uploaded.
Kalash Ojha
CA Inter
★ 465
3
436
I want to Just clarify this
Accountancy
answered on 21-Sep-21 12:29
Consignor sends the goods to consignees godown Suppose 100 units @ 200 each .. The goods are reached consignees godown.. After that 80 units are sold and remaining 20 are unsold for this we need to calculate rhe valuation of sold is normally 20 multiply with 100 is 20000 am I right But.......... As per AS 2 says for calculating the valuation of unsold stock We need to be add with consignor and consignees Non recurring expenses then we get the valuation of unsold inventories am I right or ,If wrong means..... Can you rectify me pls tq .........
latest answer
You are a non manufacturing entity who buys and sells cars. You bought 50 cars at â?¹50,000 each day n the beginning of the year. You have sold 45 cars at some price. Case 1: if the net realisable value of the car is not 50,000 but 60,000 then the inventory should be valued at 50,000 per car according to the concept of prudence. Case 2 : if the net realisable value of the car is not 50,000 but 45,000 then the inventory should be valued at 45,000 per car according to the concept of prudence.
Balachandar S
CA Inter
★ 59K+
10
456
Dissolution
Accountancy
answered on 21-Sep-21 11:19
Treatment of Loan given to partner Loan taken from partner
latest answer
The amount realised from assets along with contribution from partners, if required, shall be utilised first to pay off the outside liabilities of the firm such as creditors, loans, bank overdraft, bill payables, etc. (it may be noted that secured loans have precedence over the unsecured loans); the balance should be applied to repay (it will be paid in cash) loans made by the partners to the firm. (in case the balance amount is not adequate enough to pay off such loans and advances, they are to be paid proportionately. Loan to partner has to be realised from partner or can be adjusted against his capital account .
vijay anvesh
CA Final
★ 85
1
484
Dissolution
Accountancy
answered on 21-Sep-21 12:02
Treatment of Loan given to partner Loan given to partner
latest answer
Loan given to partner - adjust to capital account
vijay anvesh
CA Final
★ 85
1
395
Partnership accounts
Accountancy
answered on 24-Sep-21 17:07
Sir in the below attachments they have once debited the bank a/c and distributed goodwill and in other place they have debited new partners capital a/c actually the journal entry is new partners capital a/c dr To old partners capital a/c So I am getting confused can you please explain me this clearly
latest answer
You can credit the amount brought in to capital account of new partner. Then debit new partneer capital account and credit to old partners. Net impact is the same.
Soumya A
CA Inter
★ 20K+
1
441