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Rectification of error

Accountancy

answered on 12-Apr-20 11:33

Wages paid 5000 recorded twice in cash book. What should be rectified entry?

latest answer

Dr Cash Cr Wages

Rahul Sahani

Rahul Sahani

CA Foundation

0

2

524

partnership accounts

Accountancy

answered on 08-Apr-20 07:24

sir Iam ca foundation student .The accounts sir told the lesson parents ship accounts in that the way of method is different but icai material has been contained the working notes are there . can icai board allocate the Marks

latest answer

You will be awarded marks.

Allam Apparao

Allam Apparao

CA Foundation

0

1

441

Financial statements of company

Accountancy

answered on 06-Apr-20 16:06

Sir is the financial statements are prepared on the basis combination of both AS and INDAS or only on AS

latest answer

Ok thanks sir

subramanyam yendakuarthi

subramanyam yendakuarthi

CMA Inter

4K+

2

404

Subsidiary books

Accountancy

answered on 05-Apr-20 19:08

If purchase is on cash basis But return is on credit basis the where to record in subsidiary books??? (i.e it can happen that someone returned goods but we didn't pay them back now but later)

latest answer

It should be written in debit side of sales return book Journal entry : Sales return a/c Dr To Debtor a/c

joshi dilip

joshi dilip

CA Foundation

10

2

444

Subsidiary books

Accountancy

answered on 10-Apr-20 14:24

If purchase is on cash basis But what if return turns out to be on credit basis (i.e. someone returned goods but we didn't pay back them right now )

latest answer

Thanks

joshi dilip

joshi dilip

CA Foundation

10

2

463

Request for individual modules

Accountancy

answered on 05-Apr-20 10:16

I wish to buy, IPCC (old) Accounting Individual Modules mentioned below; AS 2 AS 9 Chapter - Preparation of Financial Statements

latest answer

Indigolearn usually permits to buy individual modules in the last 30 days before exams

Chethan N

Chethan N

CA Inter

300

1

404

Retirement of partner illustration 4

Accountancy

answered on 13-May-20 08:37

How to calculate exesss capital paid off to M to make capital proportionate working I have dobt

latest answer

Take the balance after adjusting, reserves, goodwill revaluation loss in the accounts of remaining partners you will get 35,000 for K 28000 forM and 21000 for N. M is paid off to make it proportionate i.e. 28000 is for 4/12th ratio (present from capital accounts), now adjust it to 2/10th ratio (Profit sharing ratio). Sathya sir has solved this illustration (last illustration in the module Retirement of partner). See that it will help you understand better

hazil ameer

hazil ameer

CA Inter

2K+

1

406

Hire purchase

Accountancy

answered on 15-May-20 13:00

In the question it is mentioned that repossession was done on 1st January, 2017. Whether repossession entries to be made on 31st December, 2016 or 1st January, 2017(because they didn't pay the installment due on 31st December 2016)

latest answer

Its a mistake in the study material. But it has to be passed on 1st January only

Nivedha Balaji

Nivedha Balaji

CA Inter

9K+

3

426

Investment accounts

Accountancy

answered on 28-May-20 12:27

Why dividend is not received on rights share?

latest answer

It will be based on 40 lacs.

Sivaranjani PC

Sivaranjani PC

CA Inter

240

7

409

There are 85 solved questions for Advanced Accountancy

Accountancy

answered on 04-Apr-20 11:46

Question 1. Do they cover ALL of the Institute's study mat questions? Question 2. If I post a question from elsewhere, which is not covered in the video, because I have a query and am not being able to solve it, how promptly will I get the solution for it? I am looking forward to purchase Adv Accountancy and EIS,SM lectures so please answer me.

latest answer

1. 90% of all questions in study material are solved - few repetitive or extremely simple questions will be left out 2. We will give you conceptual clarity and respond to specific aspects of an external question in which you have a doubt. But we will not provide you with full exam style answer for the external questions that you come up - you can post them here in the forums or you can email us such questions at our ID support@indigolearn.com

Kumarjit Dey

Kumarjit Dey

CA Inter

4K+

1

402

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