Forums
Redemption of Preference Share
Accountancy
answered on 16-Aug-21 09:32
Why crr created with 33750... Equity share are issued of nominal value of 33750 then crr should be 31250 (65000-33750)
latest answer
Yes
Devendra Rajput
CA Inter
★ 425
3
443
Forfeiture of fully paid up shares?
Accountancy
answered on 16-Aug-21 08:29
How can fully paid up shares be forfeited? Please refer the image and reply
latest answer
Ok mam. Thank you
Sibi Srinivasan
CA Final
★ 22K+
2
1K+
Listed companies
Accountancy
answered on 15-Aug-21 09:28
In the company accounts chapter, there is a statement " shares of private company are not listed on stock exchange". But in reality, most of the listed companies are private in nature. Please explain.
latest answer
Hvh
Sibi Srinivasan
CA Final
★ 22K+
10
539
Inventory
Accountancy
answered on 14-Aug-21 09:24
What is the meaning of the Term inventory?
latest answer
Both are simultaneously used and no difference it's just the terminology that differs.
Rishi Kumar
CMA Inter
★ 6K+
3
499
Calculation of cost of goods sold
Accountancy
answered on 18-Aug-21 08:58
Opening stock +purchases (Closing stock already adjusted Here closing stock and purchase both are given in trial Balance If closing stock given in adjustment we need to add to purchase My answer is right or wrong ???
latest answer
COGAS - 17000
Rishi Kumar
CMA Inter
★ 6K+
12
1K+
Sales and sales return
Accountancy
answered on 14-Aug-21 12:23
Sometimes,goods are sold on approval basis that is when the coustomer has the right to return goods with in stipulated period in that case the sale entry should be reversed. My doubt : 1)What is the mean by approval basis 2)What is the entry passed at the time of approval basis in the books? 3)Why goods send on approval basis? 4)Goods are sold in approval basics treated as sale or not?
latest answer
Thank you brother
Rishi Kumar
CMA Inter
★ 6K+
2
494
Sole proprietorship and company
Accountancy
answered on 13-Aug-21 14:30
In company/corporation the income tax payables is debit to profit & loss account like other expenses. But in case of sole proprietorship, it is debited to capital account. So why we can't treat the income tax payables like the expense in the sole proprietorship?
latest answer
Ok mam, now I understood.
Vijay K
CA Inter
★ 9K+
4
484
Accured interest
Accountancy
answered on 13-Aug-21 13:15
How do banks pass accured interest on fixed deposit..as I have seen interest amount transferred to sb a/c..on 31st March they tranfer interest amount to the extent of their tds deduction..I haven't understood this..can anyone explain this??
latest answer
For any FD amount with tenure of 6 months and above, the interest will be calculated on a quarterly basis which means the interest earned on the previous quarter will be added to the principal for overall interest calculation The TDS rate on fixed deposits (FDs) is 10% if the interest amount for the entire financial year exceeds Rs. 40,000 annually which is applicable in AY 2020-21. So the TDS is deducted irrespective of actual credit to your a/c it mostly also depends on type of FD.
vasabattula abhinav
CA Final
★ 85
1
409
Honorarium
Accountancy
answered on 12-Aug-21 17:16
Honorarium is a revenue receipt. Then why is it shown under liabilities in this problem?
latest answer
Ok thank you so much
Sibi Srinivasan
CA Final
★ 22K+
6
518
Last year payable
Accountancy
answered on 12-Aug-21 13:38
If we forgot to keep last year payable.. we need to keep as Prior period item..Is this only for companies or can we use this for all assessee in their p&l like societies,firm etc
latest answer
Thank you..
vasabattula abhinav
CA Final
★ 85
2
352