Forums
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
578
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
537
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
689
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
600
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
576
difference between periodic and perpetual inventory system
Accountancy
answered on 26-Jan-21 23:57
why do we say that perpectual inventory system is costlier than periodic system , periodic system requires more employees to physically measure goods
latest answer
Perpetual inventory system uses digital technology to track inventory which is more expensive compared to labour in periodic inventory system. Also, the perpetual system is adopted by large businesses
nisam M
CA Final
★ 23K+
1
625
Doubt
Accountancy
answered on 26-Jan-21 14:34
Can any one suggest me how to solve 9 mcq
latest answer
Yes bro
sai t
CA Foundation
★ 2K+
3
490
Profit prior to incorporation
Accountancy
answered on 25-Jan-21 18:32
In this chapter, we usually come across cases when a company takes over a firm or a sole proprietorship. What about a company taking over another company? Can there be profit prior to incorporation in this case?
latest answer
That is a case of Merger/Amalgamation. You will learn this in advanced accounting.
Aman Mahajan
CA Final
★ 19K+
1
586
Doubt
Accountancy
answered on 25-Jan-21 20:20
I have a doubt in below screenshots in partners capital account on debit side from where 25,000 is getting from??
latest answer
Sir is it possible to take 4,40,000 directly
sai t
CA Foundation
★ 2K+
7
570
Propritorship
Accountancy
answered on 28-Jan-21 09:47
Preparing financials of proprietorship , last year its a partneship firm by constitution , how adjust the capital account & current account closing balances shown in last year balancesheet ?
latest answer
There will be some arrangement/agreement between the partners as to how it will be dissolved and converted.
Balamurali Unnithan M S
CA Inter
★ 3K+
9
602