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Pass journal entry for the following:-
Accountancy
answered on 21-Sep-20 17:19
Purchased an old furniture for INR. 11,500 from Vijay. Paid INR 3,000 on its repair and INR. 500 on its Carriage.
latest answer
Furniture A/c Dr. - 15,000 To Vijay - 11,500 To Cash - 3500 (Assuming purchased on credit. Repairs and carriage paid in cash)
Satyam Anand
CA Inter
★ 17K+
3
738
Doubt
Accountancy
answered on 21-Sep-20 20:35
Can I use Double pages for sums like Account current, Triple column cash book... or I should use my Paper Horizontally.
latest answer
Thank you so much Sirð???
Akash Ash
CA Final
★ 7K+
2
503
Control
Accountancy
answered on 22-Sep-20 11:47
Explain b point. Who is acknowledged as he in "his appointment", "held by him"?
latest answer
Thank you so much sir
Susee Arunachalam
Qualified CA
★ 26K+
2
585
Pre-received income.
Accountancy
answered on 19-Sep-20 14:22
Why pre- received income goes to liability?
latest answer
Because, if contract is terminated on the date of receipts as services have not be delivered, income is not earned and the amount has to be retuned to the payer
Dipti Pethe
CA Foundation
★ 800
1
541
Redemption of Preference Shares- Value of fresh issue
Accountancy
answered on 21-Sep-20 16:50
Hi, Redemption of Preference Shares are to be done by issue of fresh capital or free reserves or both. In question 4,why are we deducting bank balance from value of redemption to arrive at value of fresh issue; when in another question(icai), free reserves are being reduced from value of redemption to arrive at value of fresh issue?
latest answer
Unless bank balance is to be maintained, treat it as a normal question.
Karan Chellani
CA Inter
★ 0
5
584
Consignment
Accountancy
answered on 20-Sep-20 14:10
Iam not able to understand how to evaluate stock reserve in this question. See the attachment pls
latest answer
Give an appropriate note in exams
Anirudh gupta
CA Inter
★ 27K+
8
544
Syllabus query
Accountancy
answered on 18-Sep-20 11:14
Hi, is partnership accounting a part of the syllabus for Group 1 November 2020 attempt; because I saw some questions of partnership in previous year question papers of ICAI.
latest answer
It is now a part of Group II
Karan Chellani
CA Inter
★ 0
2
542
Doubt
Accountancy
answered on 19-Sep-20 14:36
What is anticipation of profit in given problem
latest answer
Drawings are of two types I) Drawings out of profits II) Drawings out of capital Drawings out of profits do not effect capital invested. Because profit is the surplus earned by investing capital in the business.
sai t
CA Foundation
★ 2K+
4
538
Retirement of Partner
Accountancy
answered on 19-Sep-20 08:49
Sir this is the journal entry of Page 8.91 Illustration 3 I want to know how is the fixtures account is being calculated
latest answer
Create a revaluation account. And solve the problem. Book value - 8,200 Agreed value - 10.980 Increase by 2,780 Dr Fixture 2780 Cr Revaluation Account.
Sampath B
CA Final
★ 21K+
5
624
Ca foundation
Accountancy
answered on 17-Sep-20 11:49
Partnership account Admission of partnership Illustration 2 is solved 3 times's why?
latest answer
Illustration 2 as per ICAI or our modules? Can you share screenshot where it is solved 3 times? There could be slight variations or different way of approaching the same problem.
Vaibhav Salgare
CA Inter
★ 8K+
1
481