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Final accounts
Accountancy
answered on 21-Jun-21 12:50
Explain point 6 adjustment in detail
latest answer
Bank overdraft =160000
Adarsh Gudivada
CMA Final
★ 28K+
7
1K+
NBFC Investments
Accountancy
answered on 22-Jun-21 06:03
What could be called as investments when its a co- operative bank or similar bank and how to classify assets and investments when it comes to banking companies?
latest answer
If they take loan from banks on security of their assets.
raju raju
CA Inter
★ 240
3
603
AS 10
Accountancy
answered on 20-Jun-21 02:24
In the attached page of text book, two techniques of revaluation are given..... May I know the video in which you taught about the attached page....? Please reply as soon as possible..... I am in terrible confused state
latest answer
Technique one Asset is stated a gross value and depreciation derived as an adjustment to revalued amount and carrying amount of asset Text book example Asset carrying amount -1000 Asset gross value 2500 Revalued amount =1500 Revised depreciation = 1000(2500-1500) Technique 2 Depreciation is eliminated and asset is shown at revalued amount Example Carrying amount -1000 Accumulated depreciation- 400 Revalued amount 1500 So first depreciation will be eliminated by deducting the value of asset Provision for depreciation a/c Dr 400 To asset a/c 400 Then the asset would carried at revalued amount by creding to revaluation surplus Asset a/c Dr 900 To revaluation surplus 900
ALDRIN G
CA Inter
★ 12K+
3
597
Pre and post incorporation profit or loss
Accountancy
answered on 19-Jun-21 11:14
In this can we apportion bad debts as follows Recovered 36000 for sale made in june year 1 so adding to baddebt as exclusively for pre incorporation and remaining 33000 allocating in the pre and post in sales ratio. CAN WE APPORTION LIKETHIS .In book they added 36000 with existing 33000 and entirely (69000)apportioned in sales ratio
latest answer
Ok sir.
S.P. RAYAN
CA Inter
★ 3K+
3
674
NBFC
Accountancy
answered on 21-Jun-21 08:49
Sir whether an asset overdue for 4months is a standard or sub standard?
latest answer
As per the direction given by RBI, if it is exactly 3 months also, it becomes NPA and slips to sub standard. You can quote the same in the exam and consider it as sub standard.
manideep martha
CA Final
★ 10K+
16
736
Unrealised profit
Accountancy
answered on 19-Jun-21 14:32
How come this 10000 unrealised profit
latest answer
It is inter company purchase. P purchased goods from Q for Rs. 10,000. Unrealised profit will be 20% of Rs. 10,000.
Triveni Patil
CA Inter
★ 290
1
563
Taxation
Accountancy
answered on 18-Jun-21 22:03
What is Deferred Tax in simple terms....
latest answer
Thank you sir...
Aditya A.D
CA Foundation
★ 10K+
3
634
NBFC
Accountancy
answered on 18-Jun-21 17:42
What is the meaning of first sentence
latest answer
A general provision at 0.40 percent of outstanding standard assets should not be considered for calculating net NPAs. It is shown separately as contingent provision against standard asset in balance sheet.
manideep martha
CA Final
★ 10K+
1
501
How to calculate finance charge
Accountancy
answered on 17-Jun-21 11:16
Question number 45
latest answer
Thank you ð???ð???
Triveni Patil
CA Inter
★ 290
2
659
General
Accountancy
answered on 17-Jun-21 16:19
Can we adopt different method of accounting for depreciation different asset ? Sir That is for plant and machinery accumulated depreciation method and for furniture and fixtures cost method of depreciation sir?
latest answer
Yes, for different asset classes, different depreciaton methods can be used
SREEABITHA SENTHILKUMAR
CA Inter
★ 1K+
1
637