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How are the operating and non oprating expenses are decided
Accountancy
answered on 17-Feb-21 10:59
How are the operating and non oprating expenses are decided for preparation of profit and loss account What is the of segregatting
latest answer
No
nisam M
CA Final
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3
637
Differemce between direct and indirect expenses
Accountancy
answered on 17-Feb-21 08:31
For the prepration of trading and profit loss account how we decide an expense is direct or indirect expenses , like transporation expenses
latest answer
Profit and loss account are indirect expenses
nisam M
CA Final
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1K+
On Page 10.33, Insurance Claim for Loss of Profit
Accountancy
answered on 18-Feb-21 10:42
Illustration 8, why is gross profit divided by adjusted annual turnover and not previous financial year's turnover like we do in most cases?
latest answer
The total of adjusted standard turnover (given in the question)
Kishore Anil
CFA L1
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566
Bank balnce
Accountancy
answered on 15-Feb-21 21:25
What does this mean ,bank balance ( cr) ?? Is it overdraft or balance?? State with reason
latest answer
No mention.
Reetikaa R
CA Final
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709
Single entry system
Accountancy
answered on 17-Feb-21 12:44
While preparing statement of affairs ,y opening capital is deducted from adjusted closing capital ?? Y not opening capital minus adj closing capital ??
latest answer
Then how will you account for drawings and profit?
Reetikaa R
CA Final
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5
570
In Loss of Profit Insurance Claim
Accountancy
answered on 16-Feb-21 10:29
Why do we take adjusted annual turnover when calculating Gross Profit under Allowable Increased Cost and not regular turnover? Also, while calculating Insurable Sum, why do we calculate it as GP% x Adj Annual T/O?
latest answer
Adj Annual turnover basically indicates - what would have been the annual turnover after adjusting for trends. Insurance for profits is for future profits and not past profits.
Kishore Anil
CFA L1
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606
What is the meaning of Memorandum Trading A/c?
Accountancy
answered on 15-Feb-21 14:54
Is it created only for insurance claim during loss of stock/loss of profit?
latest answer
Memorandum is something which does not form part of regular books. So it can be prepared for any purpose.
Kishore Anil
CFA L1
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2K+
Can loss on disposal of assets be directly debited to P/L?
Accountancy
answered on 15-Feb-21 14:42
Or should we first compulsorily transfer to Loss on Disposal/Sale of Assets?
latest answer
Can be taken to P&L a/c
Kishore Anil
CFA L1
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1
579
Accounting IPCC - Partnership Accounts
Accountancy
asked on 15-Feb-21 11:53
Accounting IPCC - Partnership Accounts - In video lecture no:9 - Illustration 4 - why is interest on drawings on Rs 40000 withdrawn by A on 30/09/2016 not calculated and added along with the interest on drawings on Rs 1000 per month drawn monthly?
latest answer
No answers yet!!
Rohit Reghuraj
CA Inter
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0
639
Receipts and payments A/C
Accountancy
answered on 16-Feb-21 20:42
Does depreciation appear in the above ac ?
latest answer
No.it appears in income and expenditure account. Receipts and payments ac involve only summary of actual cash transactions
Meda Jeevansai
CA Final
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620