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Final accounts
Accountancy
answered on 22-May-21 16:32
Sir it is clearly said that net purchases is transferred to trading account Why do we again show in trading account As to purchases less returns
latest answer
Thank you mam
Prasanth Kumar
CA Inter
★ 13K+
9
534
Branch Accounts - Debtors Method Illustration -3
Accountancy
answered on 17-May-21 10:29
Goods sent we recorded as 2,40,000 Loading we have reduced as 40000 ( which is 20%) Goods in Transit we have recorded as 20000 in closing stock And we debited Rs 8000/- in closing stock loading ( Stock + Closing stock) Since we have already credited loading of 40000/- why should we again debit loading for the value of goods in transit
latest answer
Yes exactly :)
sai krishna teja
CA Inter
★ 940
3
617
Depreciation
Accountancy
answered on 16-May-21 09:42
Is revaluation of assets part of the syllabus?
latest answer
Its the Syllabus
Siddharth Kulkarni
CA Final
★ 28K+
2
569
Redemption of Debentures
Accountancy
answered on 15-May-21 11:37
Sir, here in icai material, the interest on debentures have not been considered, although in class sir have included it in the answer, i also feel that interest must be considered, will it be considered correct if we account for interest aswell?
latest answer
Can assume either ways. In the class I took the part of interest not paid as at times students may forget to adjust for it.
TarunGopi Katragadda
CA Inter
★ 135
2
543
Reserves
Accountancy
answered on 14-May-21 19:38
What is Dividend equalization Reserves.?
latest answer
Dividend Equalization reserve is a distributable reserve which is specifically set up to ensure that dividends remain stable for despite being changes in earnings. Dividend equalization reserve is a specific reserve.
Kishan Shettigar
CA Inter
★ 2K+
2
459
Reserves
Accountancy
answered on 15-May-21 11:37
Is general reserve same as free reserve?
latest answer
Thanks for adding value. Yes, it's a special reserve, but a free reserve only. A company may not earn consistent profits every year. To maintain similar level of dividends, it may transfer amounts to a special reserve.
Punitha Krishnaraj
CA Inter
★ 5K+
5
504
Departmental accounts
Accountancy
answered on 17-May-21 19:05
In this question, stock of worth Rs.6,900/- has been transferred from Khadi to silk department. Why the selling price of Khadi department has not been considered as cost for Silk department?
latest answer
Thank you sir
Nivedha Balaji
CA Final
★ 9K+
8
634
Partnership Deed.
Accountancy
answered on 16-May-21 12:57
If Partnership deed is optional as per Partnership Act 1932. But if a new partner is admitted, how to mention the conditions without a proper deed?
latest answer
Ok
Balamurali Unnithan M S
CA Inter
★ 3K+
8
487
Premium on redemption?
Accountancy
answered on 14-May-21 12:48
Please Explain me how (premium on redemption=16) came.Kindly,Check below for attached file.
latest answer
Yes, solution w.r.t. premium on redemption is not correct given the information in question
Naren
CA Inter
★ 90K+
3
530
Face value
Accountancy
answered on 13-May-21 12:20
Why all share will have face value 10 and how face value is calculated .
latest answer
Face value of a share, also known as the par value, is the value at which a share is listed on the stock market. The face value of share can be taken up from Rs.1 but Majorly, the shares of Indian companies have a face value of Rs.10. There are no fixed criteria for deciding on the face value of a stock. It is fixed by the company, once it decides to issue its shares and bonds.
Shreesha .T.u
CA Foundation
★ 2K+
2
532