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Journal proper
Accountancy
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
441
Ratio problem
Accountancy
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
455
Subsidiary books
Accountancy
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
385
Old Syllabus Advanced Accounting ESOP PM Q4
Accountancy
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
503
Purchase book
Accountancy
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
460
Yesterday question paper
Accountancy
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
433
Thank You
Accountancy
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
426
Ca foundation
Accountancy
answered on 07-Jul-21 11:31
Messrs. Awaaz Electronics supplied goods on Sale or Return basis, the particulars of which are as under. (The Goods are sent as 25% profit of cost): Date of despatch Partyâ??s name Amount Other Particulars 10.03.2006 ABC Co. 2,600 15.03.2006 Returned 15.03.2006 XYZ Co. 3,400 17.03.2006 Retained 20.03.2006 PQR Co. 1,900 23.03.2006 Goods worth ` 800 returned and balance retained 27.03.2006 XYZ Co. 2,200 No intimation till 31.3.2006 28.03.2006 PQR Co. 1,700 No intimation till 31.3.2006 The books of Awaaz Electronics are closed on the 31st day of March, each year. Prepare Memorandum Records and discuss the treatment in main books.
latest answer
Please solve and send us the solution. Will check and revert back if any corrections are to be made.
Aditya Kothari
CA Foundation
★ 0
1
776
AS 11
Accountancy
answered on 06-Jul-21 09:58
What is a non speculation contract and speculative contract ?
latest answer
Speculative transaction means a transaction in which purchase and sale happens and settled otherwise than by actual delivery.
kowselyaa G
CA Inter
★ 2K+
1
425
PROFIT OR LOSS PRE AND POST INCORPORATION
Accountancy
answered on 06-Jul-21 10:25
In chapter 5..... Illustration 7 (pno.5.23) of ICAI study material "G.P. ratio was constant throughout the year" What does the above statement mean
latest answer
Then something more would have been given in question. Actual Sales figure would have been given then. We would first find sales for pre and post period and then apply respective Gross profit percentages to calculate GP for pre and post. Now, since it was constant, we simply distribute GP into pre and post period based on sales ratio.
James Js
CA Inter
★ 1K+
3
534