As 16

answered on 10-Jul-21 16:14

In Lecture 10 of AS 16 the solution shown is diff from icai sugg ans Which one to follow?

latest answer

Okay Sir Thankyou!!

Priyanka Udeshi

CFA L1

★ 14K+

10

459

Rectification

answered on 09-Jul-21 16:24

"B" purchase goods on credit for Rs.50,000 from Ram. He made this entry in sales book instead of purchase book. Why can't we just stick those errors instead of rectifying the errors?

latest answer

Most welcome!

Vijay K

CA Inter

★ 9K+

5

374

Contingent liabilities

answered on 10-Jul-21 08:59

Is contingent liabilities shown in financial statements??

latest answer

Thanks

Aditya A.D

CA Foundation

★ 10K+

9

422

Journal proper

answered on 08-Jul-21 23:40

Is journal and journal proper both are same? If not please give me a example for journal proper. Thank you for your kind help.

latest answer

Journal is a broad term while journal proper is narrow . When companies keep separate subsidiary books for recording of transaction then special transactions such as Bill dishonor , depreciation charged etc which can't be entered into other subsidiary books like cash book , purchase book, sales book etc are entered into Journal proper. While an entity which don't keep separate subsidiary books can record all the transaction in Journal

Vijay K

CA Inter

★ 9K+

2

404

Ratio problem

answered on 19-Jul-21 23:12

Can any one solve this sum

latest answer

A-16000 interest on capital B-10000 interest on capital C-8000 interest on capital interest charged on partner's capital @ 5 percent per anum given below- Capital of A -320000 B-200000 C-160000 Profit sharing ratio is 5:3:2 159000*5/10 159000*3/10 159000*2/10 A's Share of profit is 62500 B's Share of profit is 37500 C's Share of profit is 25000 Check in question it is given that a guaranteed c that he will be given profit 30000 every year in any condition. So, the profit in X's share is of 30000 but he gained 25000 ,remainig amount will be given by a to c in respect of his promise to c. A-62500- 5000-57500 C- 25000+5000-30000

Aakash Raavi

CMA Inter

★ 320

2

408

Subsidiary books

answered on 08-Jul-21 10:12

Mr. A purchase goods worth of Rs.5,00,000 on 6 months credit. We have written this transaction in purchase book. Is that we have to entry this transaction in journal also?

latest answer

Entry in purchase book should only be made and not in Journal proper.

Vijay K

CA Inter

★ 9K+

1

341

Old Syllabus Advanced Accounting ESOP PM Q4

answered on 08-Jul-21 21:23

Why is it treated as less than one year? The vesting period is more than one year na? Can anyone please explain? Thanks in Advance

latest answer

Ok Thank you sir

Rahul Chandramouli

CA Final

★ 600

4

456

Purchase book

answered on 08-Jul-21 10:10

We are enter the information of credit purchase made on goods of the business in purchase book. Is that we also have to make a entry in journal or journal entry is not needed for the the transactions entered on purchase book?

latest answer

True. We only record the credit purchases made in relation to the business in the Purchase journal book and no entry for the same is required in Journal proper.

Vijay K

CA Inter

★ 9K+

1

414

Yesterday question paper

answered on 07-Jul-21 18:24

How much marks come from mtp rtp, question paper for 5 attempts along with boardbook

latest answer

There are not standard fixed marks.

OMKAR REDDY

CA Inter

★ 6K+

1

366

Thank You

answered on 07-Jul-21 09:16

CA Sathya Raghu.....i just loved your classes sir.....its great

latest answer

His name is enough to enroll the course :-)

Ankita Debta

CA Foundation

★ 110

1

382