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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
840
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
800
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
★ 3K+
5
1K+
Cash flow statement
Accountancy
answered on 15-Jun-20 11:43
Can anybody explain What is voluntary separation payment and why is it in the asset side of balance sheet..?
latest answer
A voluntary separation scheme is established by a company struggling financially. The company offers employees the option to resign or voluntarily end their employment with the company in exchange for a certain settlement amount. Hence, the company sets up a fund to pay for future voluntary separation payments to these covered employees and that payment fund is reported as an asset in the balance sheet.
Aruna thavamani
CA Inter
★ 0
1
1K+
Pre .inx.and post Inc
Accountancy
answered on 13-Jun-20 16:02
Why dividend paid in equity shared is shown directly in balance sheet and not in pre inc .& post inc. profit statement ....why there is no treatment in pre &post Inc . Profit statement ?
latest answer
Dividend income does not affect company's net income or profit, dividends impact the shareholders' equity of the balance sheet
Sachin M
CA Inter
★ 280
1
723
Branch account
Accountancy
answered on 15-Jun-20 18:20
In book back illustration 5 In debtor method we no need to consider the branch ( in head office point of view we don't know that) but in this sum they entered in branch account Outstanding expense of branch also included how??
latest answer
Net profit as per branch account is 1102 it's correct
Kanaga Mani
CA Inter
★ 3K+
11
783
AS 11
Accountancy
answered on 15-Jun-20 11:54
In forward exchange contract When does premium or discount arise? When does profit or loss arise? When does exchange difference arise? What is the difference between All these? Please explain with examples
latest answer
1. The premium or discount, arises by the difference between the exchange rate at the date of the inception of the forward exchange contract and the forward rate specified in the contract. 2. Profit or loss arises upon cancellation or renewal of such forward contract
Satya Shashank
CA Inter
★ 13K+
3
835
Restoration expenses.
Accountancy
answered on 12-Jun-20 18:09
If restoration expenses is 66.5 after 3 years. And discount rate is 10% ... How to calculate present value
latest answer
1÷1.1 tease to 3 times =0.7513148009� 66.5 = 49.96 p.v of three years
Divya K
CA Inter
★ 885
1
749
Financial statements
Accountancy
answered on 11-Jun-20 09:40
For equity and liability item list of share holder holding."................"share as on balance sheet date should be disclosed separately.pls give the meaning and say answer to this bit
latest answer
Details of shareholders holding more than 5% shares.
MARISETTI DURGA
CA Inter
★ 5K+
2
743
Branch account
Accountancy
answered on 16-Jun-20 08:08
In illustration 3 In debtor method the debtors collection was 163500 In stock and debtors method the debtors collection was 171000 how????
latest answer
It is useful.
Kanaga Mani
CA Inter
★ 3K+
4
876