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AS 16
Accountancy
answered on 29-Sep-21 11:02
Solution of below attached AS 16 question ?
latest answer
You need to apply average rate since the total amount of borrowing is different from the amount spent.
Chandan Subudhi
CA Final
★ 12K+
7
558
Please say what will be the journal entries
Accountancy
answered on 29-Sep-21 07:12
5000 Due by Mr.X was Omitted to be taken in Trail balance
latest answer
Thank you mam
Dhakshana Dhakshana
CFA L2
★ 18K+
2
639
Insurance
Accountancy
answered on 28-Sep-21 20:46
For example , in the loss of profit The insured amount for 6 months is 125000 And the insurable amount is found on calculating Gross profit multiplayed with adjusted annual turnover. And we see the product of that calculation is out of 12 months turnover Since the insurance company has told to they will cover only for six months . Why should we have insured for entire years profit and pay insurance premium. And compare six months of profit claim 12 months profit
latest answer
Practically, insurance policies are taken on yearly basis. Hence, yearly figures are considered. Indemnity period is the period within policy period for which insurance company becomes liable to compensate. So, by taking a policy business insures itself for a year. However it gets compensated, only for the loss during period of indemnity.
Susai Yappan
CA Inter
★ 12K+
1
528
Retification or error
Accountancy
answered on 01-Oct-21 18:47
Give me solution of this Q-10=(d)
latest answer
Considering paid acceptance is bills payable, so the rectification entry will be Bala Ram A/c Dr. 7600 To Sita A/c 6700 To Bills payable A/c 900
Rakesh Shah
CA Final
★ 5K+
1
655
Investment accounts
Accountancy
answered on 28-Sep-21 20:49
Can any one explain what is mean by investment acquired on cum right basis
latest answer
We know right offer is a right granted to a shareholder to subsribe to shares of the company at a price which is lower than the market price. Since, it represents benefit, it generates demand for shares and as a result, price of share increases. So, if someone acquires shares during such period, we say investment was acquired on cum-right basis, that is this new shareholder will now have a right to subscribe to shares.
Sairam Reddy
CA Final
★ 10K+
5
544
NPO
Accountancy
answered on 28-Sep-21 10:10
How to calculate this In Receipt and payment account By telephone charges 1500
latest answer
Thank you so much ma'am
Sejal Shivani
CA Foundation
★ 5K+
4
542
RIGHTS ISSUE
Accountancy
answered on 28-Sep-21 12:19
Chapter 5 ,Lecture 6, Value of Rights of subscription= benefit of shareholder and Value of right = In each share the value of right. I got confused with both of the terms, value of right of subscription and value of right Sir. can you please explain Sir?
latest answer
Thank you Ma'am.
Dhivyaa Latha
CA Inter
★ 4K+
2
680
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
617
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
540
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
467