Prize

answered on 21-Jul-21 09:01

I bought a car worth of Rs. 5,00,000 and paid Rs. 25,000 as tax and Rs. 25,000 as transportation charges. so the cost of my car will be Rs. 5,50,000 as per my books of accounts. but if someone asks me about the prize of the car, what should i tell him? Rs. 5,50,000 or Rs. 5,00,000 ? and explain why ? thank you for your kind help.

latest answer

Ex showroom price 500000 On road price 550000

Vijay K

CA Inter

★ 9K+

1

375

Where can I learn branch accounting ?

answered on 20-Jul-21 19:27

Any YouTube channel or sites you recommend ?

latest answer

https://www.indigolearn.com/course/Accounting-for-Branches-Including-Foreign-Branches/plsnwd?catalogId=wpljho

anqelic bvnni

CMA Foundation

★ 0

1

354

Real or nominal?

answered on 20-Jul-21 16:23

1.Why Purchases and sales are classified both as real and nominal? 2.And what does the word nominal indicate in this context? 3.Is it ok if I write them as nominal accounts? Pls answer

latest answer

Ok. Thank you so much mate

Sibi Srinivasan

CA Final

★ 22K+

3

2K+

Doubt

answered on 20-Jul-21 08:45

Here in this question cash and bank have no separate balances so it is maintained in combined manner so can I omit the contra entry transaction as they have no effect in this combined form...?

latest answer

Yes you can make one single account

Sri kanaga Varshini

CA Final

★ 3K+

1

425

Depreciation

answered on 24-Jul-21 13:28

Please give me solved answers of all. Who solve this will get maximum marks in exam. With regards Aditya Sharma

latest answer

5th

Aditya Sharma

CA Foundation

★ 2K+

9

435

Exam preparation

answered on 20-Jul-21 09:59

Is necessary to study the theoretical framework line by line in books or I can study indigo learn summaries? I'm not able to study theories in accounts.

latest answer

Thank lot!!!!

Vani

CA Foundation

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4

394

Amalgamation

answered on 19-Jul-21 21:31

How to find out whether the sum under payment method or net asset method

latest answer

You can infer it from the question

Hari Prakash

CA Inter

★ 2K+

1

384

Asset

answered on 19-Jul-21 15:29

I am a car dealer. My job is buying and selling cars. I bought a car for my daily use in my business but I am selling it. So will this particular car will be my fixed asset. Am I right? If not please explain why. And thank you for your kind help.

latest answer

Yes you are correct i.e. FA, if you are holding as goods of your business that time you are treated as stock in trade.

Vijay K

CA Inter

★ 9K+

1

350

Inventory valuation

answered on 17-Jul-21 16:40

What is mean by the mark up being 25% on cost in the first picture? And in the second picture,. How is the cost of goods sold is given by 2,50,000 x ( 100/125 ) ? Thank you for your kind help.

latest answer

mark up of 25% means Cost + 25% = sales price So if SP is 125 CP is 100 so if SP is 250000 Cost is 250000 x 100/125

Vijay K

CA Inter

★ 9K+

1

556

Questions

answered on 16-Jul-21 14:09

In the first two papers of ca foundation, can theory based questions be asked from book inside other than the questions given in the exercise?

latest answer

Ok

Sibi Srinivasan

CA Final

★ 22K+

2

378