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branch accounting old syllabus group 2
Accountancy
answered on 09-Apr-21 10:59
practice manual question no. It says that the goods from head office are sent to branch at cost plus 10%. And all the sales by head office or by branch were made at a gross profit of 25% on their respective cost. Whether this computation is correct or that of the computation given in attachment of pm. Sales 820000/125*110 = 721600 Add shortage 20000/125*110=17600 Less goods sent. = 924000 C. S. = 184800 C. S as per pm is 208000. I am attaching both q and ans
latest answer
One given in PM is correct. You should not multiply with 110 - it should be 82000/125*100 only Sale price/125*100 will give cost at which branch received. On that later, we will apply 10/110 for calculating stock reserve for h.o. and branch as total
Sajan Gangadharan
CA Final
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Doubt
Accountancy
answered on 08-Apr-21 19:26
Forfeited share amount in "balance sheet" is added with subscribed capital or capital reserve ..?
latest answer
Thank u sir understood
Sri kanaga Varshini
CA Final
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Interim Dividend
Accountancy
answered on 08-Apr-21 11:15
Interim Dividend is calculated on 6 months or 12 months?
latest answer
Thanks sir. Thats what i was confused. I thought interim divident means dividend for half year.
Lalit Sanpal
CA Final
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480
Investments
Accountancy
answered on 08-Apr-21 10:31
Question silent about cum or ex divident then what will assume
latest answer
Ex dividend
OMKAR REDDY
CA Inter
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507
As26
Accountancy
answered on 08-Apr-21 10:59
Franchise meaning ?
latest answer
A franchise is a joint venture (agreement) between franchisor and franchisee. The franchisor is the original business. It sells the right to use its name and idea. The franchisee buys this right to sell the franchisor's goods or services under an existing business model and trademark.
Nivetharaman Raman
CA Foundation
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499
FS of companies ill - 7
Accountancy
answered on 09-Apr-21 10:12
Please explain me regarding the double counting issue in the equity capital in a much more detailed way.
latest answer
Thank you sir
Sainisha Ramesh
CA Inter
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7
473
Preference share
Accountancy
answered on 07-Apr-21 21:59
In illustration 5 in icai material Creation of crr will be 37500 only know how it can be 33750 bcoz there is no premium on issue equity share
latest answer
Question changed but answer given as per earlier question
Kanaga Mani
CA Inter
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1
457
Hire purchase and installments..
Accountancy
answered on 08-Apr-21 22:00
How do got the amt of bank in delhi motors a/c
latest answer
Tq u sir :)
Sandhya K
CA Inter
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483
Doubt
Accountancy
answered on 07-Apr-21 15:15
Why fixed asset held for sale is current asset?
latest answer
Ok thanx
Sri kanaga Varshini
CA Final
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how to do this question sir can u explain the logic and i have seen the solution not abled to understand , please respond
Accountancy
answered on 13-Apr-21 19:12
(a) Physical verification of stock in a business was done on 14th June, 2020. The value of the stock was `96,00,000. The following transactions took place between 14th June to 30th June, 2020: (i) Out of the goods sent on consignment, goods at cost worth ` 4,80,000 were unsold. (ii) Purchases of ` 8,00,000 were made out of which goods worth ` 3,20,000 were delivered on 5 th July, 2020. (iii) Sales were `27,20,000, which include goods worth ` 6,40,000 sent on approval. Half of these goods were returned before 30th June, 2020, but no information is available regarding the remaining goods. (iv) Goods are sold at cost plus 25%. However goods costing ` 4,80,000 had been sold for ` 2,40,000. You are required to determine the value of stock on 30th June, 2020.
latest answer
In the total sales made, there are some goods which are sold at loss. This needs to be separated. On remaining goods there is a profit of 25% on cost.
nisam M
CA Final
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