Hire purchase and installment sale

answered on 07-Mar-21 07:52

Illustration 9 = sir I have doubt in the table of provision for depreciation of tractor account, sir they transfer immediate preceding year and current year depreciation amount is transferred in disposal of tractor account ,why sir ? ,tell me the reason for the transfer to disposal of tractor account

latest answer

So that book value of tractor is arrived at ( Acq cost - depreciation is book value right) and profit/loss can be computed after subtracting book value from the amount realized

Subash Chandrabose

CA Final

★ 32K+

1

490

Redemption of pref shares

answered on 07-Mar-21 15:30

How did â?¹31250 come for calculating CRR ? in Illustration 5

latest answer

thank you sir

Kumar Sarthak

CMA Final

★ 12K+

2

419

Social cost

answered on 08-Mar-21 12:32

How is social cost measured in accounting

latest answer

Reporting as per companies act and filing the financial statements with ROC / income tax department

Reetikaa R

CA Final

★ 7K+

8

416

Which book to be followed?

answered on 09-Mar-21 12:53

This question might sound very basic and silly but i am really sorry i got to ask this in order to come out of the confusion . I have started to study for CA inter group-1 exams. I am confused regarding which book to be followed for accounting standards. I have to follow the accounting procurements, right?? This book contains some parts which are also available in the accounting book.

latest answer

U need to buy.

Sainisha Ramesh

CA Inter

★ 200

9

442

As-2

answered on 06-Mar-21 13:17

Sir in case if inventory is valued at NRV ,how will the cost of inventory be brought down in the books of account , whether the difference between NRV and cost be charged to p and l a/c ?what would be the journal entry?

latest answer

Yes, either

Abhishek Purohit

CA Inter

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4

451

Advanced accounting amalgamation

answered on 06-Mar-21 12:15

12% debentures of 650000 to be redeemed, by the issue of 12% preference shares of M/s. kamia haris Ltd. (face value of Rs 100), at a premium of 10% Sir explain above point and what is the entry for the above and what is the amount we should write in balnace sheet ??

latest answer

12% debentures of amount Rs.6,50,000 will be redeemed by issuing 12% preference shares of amount Rs.5,90,909 with Securities premium of Rs. 59,091. Entry: 12% Debentures to Debentureholders. Debentureholders to 12% preference shares, to SPR

Enuguru Sai Nithin

CA Final

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2

414

Ch 1

answered on 09-Mar-21 19:23

I understood.wat sir taught in video but I can't connect that with this definition.pls explain." A business ,performance ...an agreement "

latest answer

Economic transactions are entered into for purpose of business where usually there is a commercial consideration - that is the meaning

Reetikaa R

CA Final

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5

519

Branch accounts

answered on 06-Mar-21 13:43

Sir ,is stock reserve alc and stock adjustment alc are same?

latest answer

Thank you sir ð???

Subash Chandrabose

CA Final

★ 32K+

2

454

AS-19 Leases

answered on 06-Mar-21 09:58

Doubt regarding finance charges in the pic In the top it is given assuming zero residual value but at 5th year 25000 of guaranteed residual value is added why is it could you please help me sir

latest answer

Ok sir thank you

SREEABITHA SENTHILKUMAR

CA Inter

★ 1K+

4

411

Branch accounting

answered on 06-Mar-21 06:52

Sir, can we prepare both branch cash alc and branch expenses alc

latest answer

Yes. Branch expenses A/c is for ascertainment of total expenses incurred. Branch Cash / Bank A/c tells us about cash flow at branch

Subash Chandrabose

CA Final

★ 32K+

1

428