Forums
Consignment
Accountancy
answered on 07-Dec-20 16:23
Why they didn't deduct insurance claim
latest answer
Pls refer to the video on abnormal for detailed explanation. It was covered in youtube live held on Friday as well. The cost of abnormal loss is excluded while computing consignment profit or loss and hence credited. Insurance loss is credited to the abnormal loss account.
aishwariya P
CA Inter
★ 180
4
615
Company accounts
Accountancy
answered on 05-Dec-20 11:00
Sir.... In this question.... At the time of forfeiture 2rs is credited to shares forfeited account.... My doubt:- But......while reissue....Why only 1rupee is debited to forfeited shares account....and why 1rupee is debited to discount account?
latest answer
Rs. 2 should be debited to forfeiture account.
Girinath A
CA Inter
★ 765
3
622
Sale on approval
Accountancy
answered on 05-Dec-20 10:42
How this illustration 2 : 31 St march in note 20 % is taken???
latest answer
20% of sale value = 25% of cost value
Hema Sree
CA Inter
★ 2K+
4
571
Branch accounts
Accountancy
answered on 12-Dec-20 05:29
Why have we recorded entries at invoice price.. There is no entry to reduce markup also y sir?
latest answer
Yes
Shru Kanda
CA Inter
★ 610
7
582
Ledger
Accountancy
answered on 05-Dec-20 11:02
In exam if we are asked to draw ledger accounts, and it is not year end, then should the nominal accounts be balanced or transferred to the Trading & P/L account?
latest answer
Transferred.
Aman Mahajan
CA Final
★ 19K+
3
576
Ipo
Accountancy
answered on 23-Mar-21 20:09
Does autorised share capital include both offer for sale and fresh issue during IPO.
latest answer
Thank you sir... Even I got the concept cleared.
Shreesha .T.u
CA Foundation
★ 2K+
4
858
Bills of exchanga
Accountancy
answered on 04-Dec-20 09:16
8th mcq in bills of exchange.. How to calculate discount??
latest answer
You have to multiple the time as 3/12 or 2/12 as the case may be, because interest rates given are per annum
Hema Sree
CA Inter
★ 2K+
5
620
Treatment of repair expense
Accountancy
answered on 03-Dec-20 20:46
This 2500 is spent for repair of damaged radio sets in the closing inventory. Will this be included in the cost of closing inventory? Why or why not?
latest answer
It will not be included. It does not improve the state of radios.
Aman Mahajan
CA Final
★ 19K+
1
562
Asset
Accountancy
answered on 03-Dec-20 09:12
Plse give example f point
latest answer
If a company has incurred some development expenditure for intangible asset but at a later point of time realises that the intangible will not yield benefits, the development expenditure will be expensed.
Nivetharaman Raman
CA Foundation
★ 11K+
1
494
Revenue Expenditure or Capital Expenditure
Accountancy
answered on 03-Dec-20 09:26
Money spent to reduce working expenses is ... As per ICAI Module, it is capital expenditure. And as per ICAI Mtp Nov 2020, it is revenue expenditure. What's the correct answer?
latest answer
This is generally a capital expenditure.
Aman Mahajan
CA Final
★ 19K+
3
902