Forums
Final Accounts
Accountancy
answered on 03-Feb-21 09:13
Why preparing income & expenditure account for contract business ( builders ) instead of trading , profit & loss account ?
latest answer
Thank u
Balamurali Unnithan M S
CA Inter
★ 3K+
8
503
Partnership accounts
Accountancy
answered on 28-Jan-21 14:39
Sir in this question Higher relative capital method why the 4,000 balance is not apportioned on profit sharing ratio and overall preference given to partner A ignoring partner B
latest answer
Under Higher Relative Capital Method , the partner who had contributed highest capital in terms of their profit- sharing ratio are paid off prior to the other partners. Thus B is paid the 4,000 without sharing with A
M Naresh
CA Final
★ 3K+
1
458
Going concern
Accountancy
answered on 27-Jan-21 17:21
Why is Joint venture an exception to the going concern concept?
latest answer
If it is formed for a specific purpose, it will not continue forever.
Aman Mahajan
CA Final
★ 19K+
1
464
Prior to incorporation
Accountancy
answered on 27-Jan-21 18:11
In illustration 4, Here debenture interest is charged to post incorporation period. But debentures were issued to settle purchase consideration of vendors which was due in both pre and post period. Why is it not distributed in that ratio?
latest answer
Interest on debenture is a post incorporation expense
Aman Mahajan
CA Final
★ 19K+
1
443
Partneship
Accountancy
answered on 26-Jan-21 21:50
While preparing financials of a partneship firm , how adjust the income tax refund ? Treated as indirect income or capitalise the amount?
latest answer
Okei ..thank u
Balamurali Unnithan M S
CA Inter
★ 3K+
2
466
Final accounts
Accountancy
answered on 26-Jan-21 19:15
Should income tax be shown in p&l account ?? In some sums ,income tax is reduced from capital .why ??
latest answer
Because it is the tax for the personal income of the owners so it should be reduced from capital of the owners its like drawings
Reetikaa R
CA Final
★ 7K+
1
495
Insolvency
Accountancy
answered on 26-Jan-21 15:50
Chapter 6 unit 1 illustration no. 6
latest answer
Doubt?
Raj Narayan Singh
CA Foundation
★ 0
1
462
Profit prior to incorporation
Accountancy
answered on 26-Jan-21 12:06
Why is tax audit fee divided in sales ratio. shouldn't it be completely post incorporation as audit is required for companies?
latest answer
-> Tax audit has nothing to do with the constitution of the entity. -> It's applicability is based on turnover of the entity in the PY.
Aman Mahajan
CA Final
★ 19K+
1
587
Nov 2020 question paper
Accountancy
answered on 26-Jan-21 15:50
To which category does the compensation received against a suit filed should be taken in cash flow statement
latest answer
Operating activities/Extraordinary items.
Paidala Harish
CA Final
★ 2K+
1
534
Fire insurance
Accountancy
answered on 28-Jan-21 16:22
In video 19 , in the question there s a table right .in that , wat do we call â?¹1270000?? Sir calls it adjusted annual turnover .but why ?? It s standard turnover right ??
latest answer
will rectify the mistake
Reetikaa R
CA Final
★ 7K+
1
510