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Reg po and invoice
Accountancy
answered on 30-Aug-21 14:50
If company A ltd issue purchase order to B ltd for 1 product amounts to 100 , they later realise the market value of the product increases and assume there may be variation in invoice . What should be the accounting treatment. Should they create provision?
latest answer
No provision needed Simply revise PO
Naveen kumar
CA Inter
★ 0
1
469
GST
Accountancy
answered on 30-Aug-21 15:57
Why gst payable is liability not an expense
latest answer
My pleasure bro or rather my duty:)
Harsh sharma
CMA Inter
★ 55
7
446
DTA AND DTL
Accountancy
answered on 30-Aug-21 11:29
No deduction of TDS on audit fee. What is the effect on deferred tax. Is this timing difference?
latest answer
Expenditure disallowed u/s 40(a) (i), 40(a) (ii) if payment is made without deduction of TDS. then it is a timing difference as you can allow after deduction
shamanth rm
CA Final
★ 2K+
1
438
Preparation of financial statements from income record
Accountancy
answered on 30-Aug-21 18:14
How to calculate net profit?? Book back sum pg no:273
latest answer
Okieee, thanks
Merfi Mufi
CMA Inter
★ 230
9
417
Authorised capital
Accountancy
answered on 29-Aug-21 14:30
(1)For example a company has authorised capital of rupees 50000 and its face value of each shares is 10 rs and has 5000 equity shares . now if a company wants to rise money from public ...including face value of rs 10 and premium rs 15 = 35â?¹ now can co. rise above 50000rs because 35Ã?5000=175000. (2) Is security premium included in authorised capital or excluded.
latest answer
It's ok
Shreesha .T.u
CA Foundation
★ 2K+
7
449
Books of accounts
Accountancy
answered on 29-Aug-21 12:56
If goods purchased for credit are recorded in purchase book, then Goods purchased for cash are recorded in which book. And explain with journal entries.
latest answer
It's ok. Pleasure is mine..!
Sai Dhanush Reddy
CA Inter
★ 160
19
610
Insurance claim for loss of profit
Accountancy
answered on 29-Aug-21 08:35
1. Sir what happens if idemnity period(5months) > total period of business disruption due to fire(6 months). Should we limit to calculate loss of profit for the period of indemnity(5months)? Even though the business disrupted(6months).
latest answer
Yes
Balaji R
CA Final
★ 20K+
1
384
Company accounts
Accountancy
answered on 28-Aug-21 21:16
Why have they given application money to be paid along with application money in the below attachment
latest answer
Ok sir
Soumya A
CA Inter
★ 20K+
2
402
Company accounts
Accountancy
answered on 30-Aug-21 08:20
What is the meaning of the 2nd point in the below attachment
latest answer
It is a concept of underwriting , basically when we have underwriters , any shortfall that if shares issued are undersubscribed underwriters will take it . For now understand this much for theory purposes, you will further understand this at Intermediate and Final level
Soumya A
CA Inter
★ 20K+
1
410
Realisation account
Accountancy
answered on 30-Aug-21 08:22
1.Can we directly put the realisable assets and liabilities value in this account ?
latest answer
First transfer all assets and outside liabilities to realization at book value and then it will get adjusted in business purchase account , if its partnership then as per details realize the assets and pay of liabilities direct entry is not allowed you have to show both transfer (at BV) and realizing
Prasanna Venkatesan
CA Final
★ 3K+
3
509