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Liquidation of companies
Accountancy
answered on 01-Aug-20 14:58
In the illustration 5 of new icai book of advance accounting module 2 chapter 7 how did trade payables became 75,500 in liquidator's final statement?
latest answer
As it is given paid 75,000 less 2% and also outstanding expenses were settled for 2,000 Creditors including Outstanding expenses => 75,000 X 98% + 2,000 = 75,500
Amal Antony
CA Inter
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1
786
Consignment accounts
Accountancy
answered on 03-Aug-20 10:37
Goods sent on consignment is it a transaction or event??. As goods sent on consignment does not transfer it's ownership only possession is changed
latest answer
Thank you very much mam!!!
VIJAYA SARADHI MAGANTI
CA Inter
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6
1K+
Rectification
Accountancy
answered on 03-Aug-20 10:05
In the 11th video there are two cases opening and not opening a suspense a/c Sir told if the suspense A/c is opened then the Suspense A/c debited to sales . In the trial balance, sales will become 2000 but on debit side there is already 2000 and with debit of suspense A/c it will become 3000 SO EXPLAIN THIS
latest answer
Thank you
Prasanth Kumar
CA Inter
★ 13K+
4
809
Inventory
Accountancy
answered on 03-Aug-20 09:36
What adjustment should be made for point 5and why???
latest answer
Out of 8000 received 70% are sold, hence 30% is unsold which is adjusted to the stock (8000*30%= 2400) as they are included in value on 15th April
Gowshika LT
CA Final
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3
737
Rectification
Accountancy
answered on 03-Aug-20 10:06
In this photo explain e point( second from last) without preparing a suspense account
latest answer
U will debit suspense and credit discount received U will debit party account and credit suspense account
Prasanth Kumar
CA Inter
★ 13K+
3
838
AS 18
Accountancy
answered on 30-Jul-20 18:40
Whether Common directorship is related party transaction or not
latest answer
no. Unless the director is able to effect the company policies in their mutual dealings
Gomathi K
CA Final
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1
808
Fellow subsidiary
Accountancy
answered on 30-Jul-20 18:41
What is meant by fellow subsidiary?
latest answer
All subsidiary companies under one common holding company
Gomathi K
CA Final
★ 40K+
1
784
Company accounts
Accountancy
answered on 30-Jul-20 11:19
In the managerial remuneration we deductedthe the depreciation as per schedule II of the companies act 2013 to the gross profit but what is the reason for deducting the schedule II depreciation
latest answer
Can you be clear about your query
subramanyam yendakuarthi
CMA Final
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1
717
Partnership
Accountancy
answered on 03-Aug-20 10:18
the current value of goodwill be taken to be equal to the book value of the asset-> What it means. The treatment done in practice manual -write off the goodwill which was there in b/s before retirement, Through capital a/c of partners.And contribute share of goodwill to the retiring partner by existing partners.
latest answer
The net asset on the balance sheet is defined as the amount by which your total assets exceed your total liabilities and is calculated by simply adding what you own (assets) and subtract it from whatever you owe (liabilities). It is commonly known as net worth (NW).
Pranav Connecting...
CA Inter
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6
827
Insurance claims
Accountancy
answered on 27-Jul-20 19:09
Sir in this question why purchase is not written in trading account
latest answer
Because godown is used to store goods purchased for manufacture as well as to store finished goods. whereas, shop just receives goods from godown (transfers)
subramanyam yendakuarthi
CMA Final
★ 4K+
1
813