Forums
Financial statement of banking companies
Accountancy
answered on 11-Aug-20 18:15
In this sum how come they did not take the value of fixed assets given in the TB ??
latest answer
The information given for fixed assets is after depreciation and respective depreciation. Using that we have calculated opening balance of fixed assets.
anamika vardhan
CA Inter
★ 1K+
1
1K+
Which Type of account
Accountancy
answered on 08-Aug-20 14:20
Outstanding rent is representing a person so it is PERSONAL a/c, OK but it is also a liability as it is yet to pay .Then why can't we treat it as REAL a/c because real a/c are all assets & liabilities( as we know balance sheet is based on real a/c's).. please clarify my confusion clearly
latest answer
Outstanding rent is the representative personal account , it is classified as a personal account. But, expenses outstanding a/c is a personal account with a credit balance. The balance indicates the amount that is owed by the organisation on account of unpaid expenditure. Hence, treated as liability.
Hari Krishna
CA Foundation
★ 1K+
1
1K+
Single entry
Accountancy
answered on 10-Aug-20 11:57
In the question it is given as damaged once was sold for rupees 500 which is included in the cash sales but One of the faculty has made that above account and credited by sales rupees 1500 but I think OK it is credited by sales with 500 what we do
latest answer
Can you please send the question image or the video reference?
subramanyam yendakuarthi
CMA Final
★ 4K+
1
753
Doubt
Accountancy
answered on 08-Aug-20 00:26
Is this illustration no.1 is complete in question ??
latest answer
Yes. It is complete.
anamika vardhan
CA Inter
★ 1K+
1
792
Non Profit Organization
Accountancy
answered on 05-Aug-20 17:36
Pg no 9.6 Illus 2 Is its sufficient to solve the qus as per video for exams? As in text book its solved using account preparation.
latest answer
Ok mam
Swetha S
CA Inter
★ 15K+
2
709
Profit and turnover
Accountancy
answered on 03-Aug-20 14:06
What is the difference between profit and turnover?
latest answer
Turnover is your total business income during a set period of time â?? in other words, the net sales figure. Profit, on the other hand, refers to your earnings that are left after any expenses have been deducted. Both profit and turnover in business measure earnings. But turnover measures them before taking out major costs. Profit is residual earnings after costs. You can also view it as the money your business gets to keep after reducing the net sales figures by all expenses.
Gomathi K
CA Final
★ 40K+
1
772
Banking companies
Accountancy
answered on 02-Aug-20 22:36
Is current CRR and SLR ratio need to be applied in exam or whatever there in study material ??
latest answer
The rates should be as per the amendments which are applicable for the attempt that you are writing exams.
anamika vardhan
CA Inter
★ 1K+
1
709
Banking companies
Accountancy
answered on 08-Aug-20 14:07
What is the percentage of profit to be transferred to statutory reserve 20% or 25% ??
latest answer
The percentages relevant for the exams would be as per the amendments applicable for the concerned exam the student writes. It is 20%
anamika vardhan
CA Inter
★ 1K+
3
712
Capital or Revenue expenditure
Accountancy
answered on 12-Aug-20 19:34
Amount spent to reduce working expenditure Is this capital or Revenue expenditure???
latest answer
Where is MTP for Aug-20? I could find only MTP for May-20.
Gowshika LT
CA Final
★ 40K+
10
785
As 4
Accountancy
answered on 02-Aug-20 14:37
Shouldn't the cutt off date be 31st March 2017 Why is it given 31st May 2017?
latest answer
K
Swathi Krishna
CA Final
★ 8K+
4
739