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AS 15
Accountancy
answered on 03-Jul-24 16:13
Couldn't understand why we are reducing net impact of unamortised costs (12.5 l)from gain on impact of curtailment (500l).Why not subtract 100 l from gain on impact of curtailment(500 l) directly ?
latest answer
100 is for total Gross obligation. So we are reducing proportionately for 500.
Niveta Rajkumar
CA Inter
★ 1K+
1
132
Final account
Accountancy
answered on 12-Jul-24 11:38
I want to know treatment of bad debts, discount on debtors and discount on creditors
latest answer
For calculation of debtors, Reduce landlord amount and goods sent on approval. From that amount reduce the bad debts ANd then calculate provision for bad debts.
Sathya S
CA Foundation
★ 100
1
83
Discount received
Accountancy
answered on 12-Jul-24 11:51
Why discount received is debited with p/l account
latest answer
for debtors, we give discount which is an expense.
Sathya S
CA Foundation
★ 100
1
69
Journal entries in final account
Accountancy
answered on 27-Jun-24 17:22
In final account journal entries sales, return outward,are debited and why trading account is credited
latest answer
Initially when sales or return outward takes place. The journal entries will be cash/ debtor account debit TO sales/ return outward account. Now while finalizing the Books of accounts all the nominal accounts should be closed and transferred to trading and p&l. Hence sale/ return outward which normally hold a credit balance is closed by debiting the sales/ return outward account and crediting the p&l account
Sathya S
CA Foundation
★ 100
1
76
Adding purchase and closing stock
Accountancy
answered on 27-Jun-24 18:51
Why closing stock is added to purchase when closing stock exist in trial balance
latest answer
When closing stock is existed in the trail balance, it means that from the total purchases of the accounting period the unsold stock has been deducted and shown as asset . If there want to get total purchases there have to add back closing stock whcih deducted earlier.
Sathya S
CA Foundation
★ 100
2
56
basic of accounting
Accountancy
answered on 27-Jun-24 21:28
difference between the purchase returns and sale returns
latest answer
Purchase returns is an expense going down so it's a credit. Sales return is an income going down so it's debit.
Akshara Agrawal
CA Foundation
★ 0
2
68
Indirect tax
Accountancy
answered on 26-Jun-24 11:47
Why is it that the dealer cannot charge CST against CST if he does not charge ED?
latest answer
Different states were involved. So set off was not allowed.
Devika Venu
CA Foundation
★ 0
1
69
AS 19
Accountancy
answered on 25-Jun-24 15:21
why are we taking 22000 as residual value instead of 15000 for computation?
latest answer
Here the value is to be found for lessee's book. therefore GRV is taken from the standpoint of lesser.
Niveta Rajkumar
CA Inter
★ 1K+
2
111
AS19
Accountancy
answered on 25-Jun-24 10:57
In what situations should we calculate IRR under leases AS19
latest answer
If not given in question?
Niveta Rajkumar
CA Inter
★ 1K+
1
69
Branch accounting
Accountancy
answered on 26-Jun-24 11:48
MS/C and Sons has a branch at Kolkata where it sends goods at cost plus 50%. From the following particulars regarding the branch, prepare branch stock account, branch adjustment account, branch debtor account and branch profit and loss account as would appear in the books of C ltd.'s head office.[ Fig. in ₹] Stock at cost(1.4.21) : 40000 Debtors(1.4.21) : 36000 Cash(1.4.21) : 10000 Goods sent to branch (at IP) : 198000 Sales: Cash: 54000, Credit: 158000 Normal loss at cost : 4000 Sales returned to branch : 6000 Bad debts : 400 Cash remitted to H.O : 160000 Expenses paid by H.O : 10000 Cash(31.3.22) : 12000 Stock at IP(31.3.22) : 54000 Debtors(31.3.22) : 60000
latest answer
what is your doubt here?
Arti Sharma
CMA Inter
★ 0
2
90