Insurance Claim Doubt - Variation in treatment from PM answer

answered on 31-Dec-20 18:24

What is the correct Treatment of Goods sent on approval - 1. For the Goods approved 2. For the goods Not yet approved While making the Memo Trading Account to calculate Closing Stock.

latest answer

Sir that student was asking for Provisions only...Not about Question. ð???ð???

Kaveesh Sethi

CA Inter

★ 2K+

3

578

Query

answered on 18-Dec-20 14:45

Do we consider implicit cost in accounting??

latest answer

If paid, its not implicit.

Reetikaa R

CA Final

★ 7K+

3

467

Doubt

answered on 18-Dec-20 21:51

Sir the problem is the answer given in attachments are correctly done sir Sir if I am wrong please suggest me sir

latest answer

They gave from Jan-Dec of each year.

sai t

CA Foundation

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3

397

Average Due Date

answered on 21-Dec-20 16:08

Hello sir. The attached question was solved in your course video. There are two discrepancies I want to reconcile. 1. It is said that when the amount is not repaid at the end of the year, then both the borrowed date and the last date should be taken into account. If you write a note stating that it is assumed to have been paid at the end, then last date need not be taken into account. The question in the book has not addressed this issue with a note but rather solved the problem by not accounting for the extra day. 2. For Drawings by B (by ADD method) the product÷amount, that is, 368000÷2800 comes to 131.42. It was rounded off to 132. Is this a rounding of error or is there some logic behind it.

latest answer

What is taught in class is more logical. You can write a note in the exams.

Raja Raman

CA Inter

★ 0

5

530

Amalgamation As14

answered on 16-Dec-20 12:03

In illustration 6 , Entries in purchasing company why we adopted Purchase method Even the issue is in form of equity shares ?

latest answer

You can use merger method as well.

M Naresh

CA Final

★ 3K+

1

462

Govt grant

answered on 15-Dec-20 20:04

Grant received from government in nature of promoter's contribution means?

latest answer

As investment. This is generally not required to be paid back.

Triveni Patil

CA Inter

★ 290

1

428

Query

answered on 26-Dec-20 17:28

Where should life insurance and income tax be recorded??

latest answer

Income tax paid by Firm. It will be shown in P&L

Reetikaa R

CA Final

★ 7K+

13

455

Departmental accounts

answered on 17-Dec-20 18:16

Please tell me how this transfer be recorded ADJUSTMENT (A) ONLY ??

latest answer

Expense on one side and income on other. The department using will show as expense. The department providing service will show as income. Expense Apartment - 120+80 Plot - 150+90 Income Apartment - 120+150 Plot - 80+90

Reetikaa R

CA Final

★ 7K+

3

467

Doubt

answered on 14-Jan-21 13:40

How was questions asked in CA Foundation accounts and law Nov 2020 paper is it easy or hard

latest answer

It was moderate ,it seems

sai t

CA Foundation

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1

438

Accounting standard 11

answered on 15-Dec-20 20:06

Will they ask such type of questions give below attachment

latest answer

They might ask.

Triveni Patil

CA Inter

★ 290

2

459