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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
602
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.
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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
1K+
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 Final
★ 2K+
1
612
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
974
AS 11
Accountancy
answered on 05-Jul-21 21:01
Can anybody tell me what is the difference between forward rate and Exchange rate (spot rate ) ?
latest answer
Forward rate means rate agreed at the time of contract with contracter or bank inforward contract Exchange rate means present value of foreign currency with Indian rupee
M Naresh
CA Final
★ 3K+
1
591
Partnership
Accountancy
answered on 07-Jul-21 12:16
Sir in this question in solution they have not considered reserves to calculate ratio for insolvency loss distribution Please explain
latest answer
The loss on account of insolvency should be borne by the solvent partners in the ratio of their capital standing in the balance sheet on the date of dissolution. If capitals are fixed, no adjustments are required. If it is fluctuating, make adjustments of reserves, drawings etc. In the given question, it is assumed that the capital account is fixed. You can specify a note that it is fluctuating capital make adjustments to calculate the ratio.
Priyanka Udeshi
CFA L1
★ 14K+
7
874
Incomplete records
Accountancy
answered on 05-Jul-21 19:38
Sir in this question how they apportioned cash and bank balances?
latest answer
Haa ok sir thank u so much
Likhitha Sivani
CA Final
★ 14K+
4
808
Cash flow
Accountancy
answered on 06-Jul-21 10:08
What is treatment for discount on issue of debentures written off in cash flow under indirect method
latest answer
In this case there is no issue of debentures in current year. It is discount written related to issue of debentures in past years, so nothing will be shown in FInancing activities. What I meant was in case there is issue of debentures on discount. Inflow will be taken as net of issue of debentures in th year of issue
Sairam Reddy
CA Final
★ 10K+
4
696
Preliminary expenses
Accountancy
answered on 05-Jul-21 13:56
Under which head preliminary expenses are shown in balance sheet
latest answer
THANK you
Sairam Reddy
CA Final
★ 10K+
3
884
Matching concept
Accountancy
answered on 05-Jul-21 11:58
If opening stock is 6000 Units @Rs.40 per unit. Purchase 24000 units @ Rs.50 per unit. Sales 20000 units @ Rs.60 per Unit. Closing stick is 10000 units. Given that , Opening stock units is included in closing stock is 2000 units. Find Closing stock & profit.
latest answer
Yes. I too have derived this answer. Thank you for the response. No issuesð???ð?¤?
Priya Anandan
CA Inter
★ 810
5
675