Forums
Depreciation
Accountancy
answered on 22-Jul-21 22:38
Is provision for depreciation a/c and accumulated depreciation a/c the same?
latest answer
Every year provision for depreciation a/c is credited for depreciation of that year. Accumulated depreciation is a term which implies depreciation till date from asset purchase. So, total amount lying in Provision for depreciation account is nothing but accumulated depreciation
Girinath A
CA Inter
★ 765
1
431
Depreciation
Accountancy
answered on 24-Jul-21 08:29
1st question in practical question 1) In the anwer I understood the plant & machinery account, but why we debiting the depreciation provision account and crediting the sale/disposal of plant and machinery account? 2) In the debit side of depreciation provision account, how the value of sold-2010 asset became 2,16,000?
latest answer
Total depreciation charged on the asset till date from the purchase date
Vijay K
CA Inter
★ 9K+
4
798
Exam
Accountancy
answered on 22-Jul-21 17:36
Where I can do working notes before or after answers in accounts?
latest answer
Either ways is fine
Vani
CA Foundation
★ 2K+
1
515
NPO
Accountancy
answered on 23-Jul-21 19:03
how to deal with 1. Cheque unrepresented being payment for repairs. How is honorarium 600 we get balancesheet How is bank overdraft coming How is honourarium comes in the opening balancesheet Pls clarify this
latest answer
Thank u guys
nisam M
CA Final
★ 23K+
4
871
Depreciation
Accountancy
answered on 22-Jul-21 22:25
When should the method of depreciation of an fixed asset should be changed? And why? Give me one example. Thank you for your kind help.
latest answer
It should change depending on circumstances - when usage pattern of asset is changed or say benefits expected from asset now varies. Why? To reflect true costs to the business. Example: A company expected machinery to last 20 years and loose value equally over years. So, it used straight line method. But based on usage, it's losing much value in early years, so it may change to WDV method.
Vijay K
CA Inter
★ 9K+
1
459
Consignment
Accountancy
answered on 22-Jul-21 12:30
Please help in solution of this question with detailed solution
latest answer
Try to solve on your own and send us the solution. Will get back to you.
Aditya Sharma
CA Foundation
★ 2K+
1
462
cash flow statement
Accountancy
answered on 22-Jul-21 09:51
XYZ company manufacturing tiles they started business on 1/4/2020. from the following information prepare cash flow statement as on 31/03/2021 company produce 600 tiles per day(25 days per month) direct expenses â?¹10.5 per piece selling price â?¹91 per piece raw materials used to produce a tile is â?¹30 rent â?¹2500 per month salary â?¹13500 per month advertising â?¹1000 per month travelling â?¹1000 per month other expense â?¹3300 per month
latest answer
Assume what is produced is sold.
Elavarasi B
CA Inter
★ 46K+
3
424
Method of writing
Accountancy
answered on 22-Jul-21 12:43
I am a science student. I don't know how to write in accounts sheet. Where can I get to know the procedure of writing in accounts sheet?
latest answer
Yes
Vijay K
CA Inter
★ 9K+
6
471
Exam doubt
Accountancy
answered on 21-Jul-21 13:55
In ca foundation exams, is there any option to attempt all the questions. Will marks be considered for the extra questions? Or only 4 out of 5, 1st being compulsory?
latest answer
https://youtu.be/3NRHkfi7VYI Time stamp : 1:56:30 ICAI webinar on Dec 2020
Sibi Srinivasan
CA Final
★ 22K+
7
617
Prize
Accountancy
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
428