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Consignment
Accountancy
answered on 04-Nov-20 17:34
In consignment account, goods sent on consignment should be calculated on selling price of cost price??
latest answer
Invoice price or cost price. Depends on the question.
Pooja .
CA Final
★ 210
1
516
How did institute get this figure '7333' ?
Accountancy
answered on 04-Nov-20 23:22
Pg 2.62 , Q4. See attached please
latest answer
Clear thank you sir
Kumarjit Dey
CA Inter
★ 4K+
2
539
Query related to Joint Life Policy (partnership firm, dissolution)
Accountancy
answered on 04-Nov-20 17:11
How to treat â?¢ JLP Reserve (which appears on Liability side) â?¢ JLP (asset side) â?¢ JLP "surrendered" given in additional info Through Realisation and/or Partner's Capital Accounts? See attached for Q.
latest answer
Two approaches. 1. Transfer both reserve and policy to realisation and give credit to the amoutn collected/received from the policy. 2. Transfer reserve to partners capital account directly. Transfer JLP to realisation and give credit for amount received.
Kumarjit Dey
CA Inter
★ 4K+
1
1K+
Amalgamation
Accountancy
answered on 04-Nov-20 15:24
Which one is correct sir? Unrealised profit entry P&l a/c..dr To cash a/c (Or) P&l a/c..dr To stock a/c....
latest answer
Second entry. You have reduce the value of stock, by reducing the profit element
anju B
CA Inter
★ 21K+
1
534
Redemption of preference shares
Accountancy
answered on 04-Nov-20 07:33
Sir , I have listened the Class Redemption of preference shares But I am Not sure Regarding Why sometimes we are dividing Fresh proceeds with issue price. How can we divide the issue price to redeem the preference shares including premium . As it is contravention to sec 55. Sir , I also watched the video in youtube but I didn't understand the logic behind it. Sir could you please do a video on this specific point. that clears the Doubt of whole chapter
latest answer
The video on youtube is specific to this doubt. There are two ways to determine number of shares to be issued. First case - when we have sufficient bank balance. In this face value is relevant. Second case - when we do not have suffcient bank balance. In this case we need to check both face value and face value + premium. The transfer to CRR will be based on face value. It is not a contravention to S.55
M Naresh
CA Final
★ 3K+
1
491
AS20
Accountancy
answered on 03-Nov-20 11:09
How can we multiple with rs , we are supposed take no. Of shares as denominators? Question 2 of the indigolearn notes ?
latest answer
PArtly paid up
Swathi Krishna
CA Final
★ 8K+
1
586
Banking
Accountancy
answered on 03-Nov-20 08:39
Practical problems Question 6, where this did 2,00,000 come regarding provision?
latest answer
Income tax of Rs 200000 is to be provided for
Swathi Krishna
CA Final
★ 8K+
1
570
How did Institute come to this figure?
Accountancy
answered on 03-Nov-20 10:16
2297 from 2045 given in Question?
latest answer
On which concept you need clarity
Kumarjit Dey
CA Inter
★ 4K+
9
518
Banking
Accountancy
answered on 03-Nov-20 10:20
In this illustration 4 of the institute's textbook, Shouldn't the 25000 be deducted from the current account ? So wouldn't it become 945000?
latest answer
ARe you not able to trace back the values to the question?
Swathi Krishna
CA Final
★ 8K+
6
577
Banking companies
Accountancy
answered on 04-Nov-20 14:44
Will we be asked to prepare Balnce sheet? Or chances of P&L being asked is higher?
latest answer
Okay. I will keep this in mind , and practice Form B only. Thank you Sir.
Kumarjit Dey
CA Inter
★ 4K+
2
473