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Introduction
Accountancy
answered on 19-Jun-20 16:08
What is difference between closimg stock and inventories
latest answer
In strict sense the words Inventory and stock mean the same. Closing stock means amount of unsold stock left in business as on a date / period end date. Just the word Inventory does not connote a meaning - it could be either opening or closing However, when you see just the word inventory in a balance sheet - it means closing inventory
Prasanth Kumar
CA Inter
★ 13K+
1
488
Goods sent on approval basis
Accountancy
answered on 30-Jan-21 15:42
Goods sent on approval basis video no.6 sir took a example in that 15june goods from customer accepted and sent approval on that he recorded that transaction my doubt is already we recorded whole goods sent on approval again why should we enter it's is already entered in past transaction
latest answer
But its a ledger Why the format is like journal??
Jashwanth S
CMA Inter
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4
627
Tax depreciation
Accountancy
answered on 18-Jun-20 15:58
Sir.. What is meant by tax depreciation?
latest answer
The depreciation rates are different under Income tax act and Companies Act. Tax Depreciation means, depreciation as computed under Income tax rules.
Shalini Shalu
CMA Inter
★ 300
1
535
Investments AS13
Accountancy
answered on 18-Jun-20 12:27
In case of AS-10 We give 1st priority to consider asset acquired value then asset given fair value then carrying amount. But why we give 1st priority for asset given up fair value In AS-13 If acquisition happens by exchanging assets (shares)
latest answer
Given up fair value is the exchange value against which such investment is made. In stead of cash you will get shares in exchange and if sold immediately will fetch the fair value in market. That's why we take the given up asset's fair value in case of acquisition of shares
Divya K
CA Inter
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1
535
Accounting standards
Accountancy
answered on 16-Jun-20 21:35
Sir/mam : what are theAS applicable for group 1 Nov 2020 exam
latest answer
Tq so much
Keerthana Prabakaran
CA Inter
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2
574
Videos are not playing
Accountancy
answered on 16-Jun-20 09:59
Infact, I also have them downloaded. Still they arent playing (sale of partnership)
latest answer
Please send screen shots to support@indigolearn.com. Will ask tech team to revert to you.
Kumarjit Dey
CA Inter
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1
489
Who is the founder of book keeping and accountancy?
Accountancy
answered on 15-Jun-20 08:58
Mordern accountancy
latest answer
5th century Italian mathematician, Frater Luca Pacioli is hte founder of modern day book keeping
jmk empire
CA Foundation
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2
624
General
Accountancy
answered on 15-Jun-20 09:07
What is meant by P&L Dr balance. Can u explain expandedly? Normal profit will have what balance either debit or credit?
latest answer
Profit & loss account includes both profits and losses, if the net effect is profit then its credit balance, if the net effect is loss then P&L a/c is a debit balance.
surya prakash
CA Inter
★ 2K+
2
555
Managerial remuneration
Accountancy
answered on 15-Jun-20 09:06
For the purpose of calculation of profits u/s 198 for providing managerial remuneration why we are not taking provision for tax value?
latest answer
because its profit before tax
surya prakash
CA Inter
★ 2K+
1
523
Journal
Accountancy
answered on 15-Jun-20 09:25
The journal for wages paid for erection of machinery 5000 rupees 1. Machinery account dr. 5000 To wages account. 5000 2. Wages account dr. 5000 To cash account. 5000 Or Machinery account dr 5000 Cash account. 5000 Which of the set should be recorded the first set of journal or directly the second set
latest answer
All expenses incurred for installation of the capital asset and necessary for it to be put to use have to be capitalised, hence wages paid for erection have to be debited to the Machinery account
lithish kumar
CA Final
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5
699