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Inventory
Accountancy
answered on 01-Oct-20 08:53
This sum both combination of 1 and 2 is said using lifo method in the videos I did that using fifo method See if there is any wrong
latest answer
Regret we cannot do such kind of checks. Please let us know if you are facing a problem and we shall get back
Prasanth Kumar
CA Inter
★ 13K+
1
575
Inventory
Accountancy
answered on 01-Oct-20 14:08
In this I think fifo and lifo amounts are given wrong
latest answer
By mistake I posted this doubt
Prasanth Kumar
CA Inter
★ 13K+
9
580
AS 7 Query
Accountancy
answered on 30-Sep-20 06:41
Please see the attached question. As per the standard, one of the condition is that variation should be approved by the customer. In the question it is given that the variation in year 2 has been approved by the customer and accordingly the revenue has been increased in year 2. But nothing has been mentioned for year 3, then why year 3 variation has been considered as revenue?
latest answer
Year 3 variation is not added.
Deepak Gupta
CA Inter
★ 1K+
1
643
Diluted EPS
Accountancy
answered on 30-Sep-20 08:15
In this question, it is given that potential shares will rank for dividend from 2020. So, why will it dilute EPS in 2017-18?
latest answer
Okay sir. Thank you
Raviteja Kusumanchi
Qualified CA
★ 42K+
4
693
Final accounts
Accountancy
answered on 29-Sep-20 13:02
Is provision for bad and doubtful debts a debit balance or credit balance?? What is the impact of this in p&l a/c and balance sheet??
latest answer
In P&L a/c provision for debtors is debited and in balance sheet it is deducted from debtors
Pooja .
CA Final
★ 210
1
718
Shares issue
Accountancy
answered on 29-Sep-20 17:55
Shares are discounted on face value or on called up value? For example- if a share has face value of â?¹10 and is called up for â?¹6 and given 10% discount, discount is on â?¹10 or â?¹6?
latest answer
Actually question is invalid as per law. Anyways, consider the discount portion along with application.
Ankush R
CA Final
★ 33K+
5
742
Impairment loss
Accountancy
answered on 28-Sep-20 16:22
Impairment loss is a Timing difference or Permanent difference??
latest answer
Timing. In future there would be loss when the impaired asset is actually sold.
Shravan Kumar
CA Inter
★ 25K+
1
625
UNAMORTISED PRELIMINARY EXPENSES
Accountancy
answered on 28-Sep-20 16:20
UNAMORTISED PRELIMINARY EXPENSES are DTA OR DTL?IF YES HOW
latest answer
Preliminary expenses are charged to P&L. For tax they are allowed over a 5 year period. Tax will be less in future - hence a benefit - hence DTA.
Shravan Kumar
CA Inter
★ 25K+
1
591
Rtp may2019-AS 19
Accountancy
answered on 28-Sep-20 06:47
How is this computation possible ? I didn't understand the logic behind this computation.
latest answer
The return for lessor is 10%. The lessor would get lease payments + unguaranteed residual value. The present value of lease payments + present value of unguaranteed residual value should be equal to the fair value.
Swathi Krishna
CA Final
★ 8K+
1
623
AS19
Accountancy
answered on 28-Sep-20 06:49
In sale and leaseback, what is the logic(general) behind the amortisation of profits / loss ,as the case may be
latest answer
Sale and lease back is a structured transaction. I can sell the asset at a higher profit (above its fair value) and take it back on lease at a higher rental. Because i sold at a higher price, i will show higher profits. But the reality is that i will pay higher rent in future. So to ensure that profit and losses are reported properly, amortisation is done.
Swathi Krishna
CA Final
★ 8K+
1
581