Forums
Insurance claim
Accountancy
answered on 25-Feb-21 11:17
Sir I have a doubt in illustration 30 on cma material
latest answer
It is given in the question that Stock in 2011 was valued at 10% less cost and closing stock for 2012 is calculated 10% above cost.
Muhammed Riyas
CMA Inter
★ 2K+
4
510
Final Dividend after bonus /right
Accountancy
answered on 23-Feb-21 21:28
If final dividend (suppose 20%) is received after the issue of bonus shares and/or eight shares, then Will the value of shares on which 20% is calculated include bonus and/or right shares? Eg. Opening bal. = 20,000 shares Bonus (1:2) = 10,000 shares Right (1:3) = 10,000 shares Now, Final Dividend is declared and received @ 20%. This 20% will be on original 20,000 shares or total 40,000 shares?
latest answer
It depends on how company declares dividend. If nothing is mentioned, all shares held on record date qualify for dividends.
Ishika Goel 282
CA Final
★ 3K+
1
540
Journal entry for bonus shares
Accountancy
answered on 23-Feb-21 00:44
What is the journal entry in the books of the shareholder when he is alloted bonus shares
latest answer
Investment a/c.....Dr. (Face value) To Bonus Shares (Face value)
Paidala Harish
CA Final
★ 2K+
1
966
Fair market value
Accountancy
answered on 23-Feb-21 11:38
What is the difference between fair marker of asset given up Fair market value of asset acquired And carrying amount
latest answer
Acquired is the one which is purchased. Given up is the one which is sold/disposed.
Sai Teja
CA Final
★ 14K+
3
467
AS-10
Accountancy
answered on 23-Feb-21 22:08
Sir please give explanation of this question & accounting treatment
latest answer
No sir. 1st I'll complete it then I'll try Thanku sir
Bethi Shivani
CA Final
★ 6K+
4
544
Manager vs. managing director vs. Managing personnel
Accountancy
answered on 23-Feb-21 21:38
Doubt
latest answer
(53) "manager" means an individual who, subject to the superintendence, control and direction of the Board of Directors, has the management of the whole, or substantially the whole, of the affairs of a company, and includes a director or any other person occupying the position of a manager, by whatever name called, whether under a contract of service or not; - Someone who is incharge of whole of company. Do not get confused with manager used in day to day life - like branch manager or finance manager. Here its more like CEO. (54) "managing director" means a director who, by virtue of the articles of a company or an agreement with the company or a resolution passed in its general meeting, or by its Board of Directors, is entrusted with substantial powers of management of the affairs of the company and includes a director occupying the position of managing director, by whatever name called. Here, managing director is a director. Either a company would have a manager or managing director.
ALDRIN G
CA Inter
★ 12K+
1
847
Income tax
Accountancy
answered on 22-Feb-21 10:47
Sir . for example ice cream trading enterprise has made a profit of 10 lakh .it is sole trading form of organization.sole trader/owner withdraw 3lakh from business.now owner has to pay income tax for 10 lakh or 3 lakh.
latest answer
10 lakhs
Shreesha .T.u
CA Foundation
★ 2K+
1
542
Some doubts related to illustrations in the study material.
Accountancy
answered on 26-Feb-21 15:31
1. On the last illustration of Buildwell Ltd in the Insurance chapter, why is the denominator taken as total of adjusted standard turnover (12,70,000) when calculating Gross Profit Ratio and not previous year's turnover? 2. On the last illustration of Gram Udyog in the Departmental Accounts chapter, what is the meaning of adjustment no.1?
latest answer
1. 12,70,00 is the previous year's turnover only 2. What is your query? Can you be more clear. Also, if you have two different queries post them separately
Kishore Anil
CFA L1
★ 2K+
1
499
Debenture redemption reserve
Accountancy
answered on 22-Feb-21 11:23
Sir, In module illustration 3 _balance given in bank A/C and DRR A/C is not matched with the way you solved the sum .please help me with this sir
latest answer
The institute material has not calculated interest on debentures
Subash Chandrabose
CA Final
★ 32K+
1
576
Pre / Post Incorporation
Accountancy
answered on 22-Feb-21 13:21
Please clarify the ratios in which these expenses will be allocated - (Time or Sales) â?¢ Travelling Expense â?¢ Traveller's Commission
latest answer
Sales
Ishika Goel 282
CA Final
★ 3K+
3
574