Forums
Commission
Accountancy
answered on 26-Feb-21 16:07
Why didn't we include commission under "Employee benefit expense" in profit and loss account
latest answer
Sales related expenses are generally clubbed with marketing expenses
ALDRIN G
CA Inter
★ 12K+
1
621
STATEMENT OF PROFIT AND LOSS
Accountancy
answered on 26-Feb-21 16:27
In Illustration 6 of Textbook page no.4.41 of Paper1, opening stock, closing stock, and Purchases amounts are given.... But Under 'Cost of materials consumed', only the value of purchases is included....... i hav attached the qn and answer with this.... But in other questions, we have found the value by using: Opening stock+Purchases-closing stock Why??? Please clear this doubt
latest answer
Ohh kk sir...... Thank You
James Js
CA Inter
★ 1K+
8
625
Share capital
Accountancy
answered on 25-Feb-21 08:15
Sir, one small doubt..... 1)Under the head Share capital, do we need to include all the following words? Authorised, Issued, Subscribed, Called up and Paid up 2) What to do if the details of everything (authorised, issued,.....) Are same??? I had this doubt for a very long time..... Please Clarify this doubt...
latest answer
Yes, you will have to include all. If all are the same you will have the title heading as Authorised, issued, subscribed & paid-up capital Rs. X - Check the annual report of any listed company you will understand better
James Js
CA Inter
★ 1K+
1
635
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
616
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
627
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
1K+
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
560
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
642
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
1K+
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
616