IND AS 2

answered on 23-Feb-24 09:36

IN SERVICE PROVIDER EXAMPLE YOU GAVE THE EXAMPLE OF CARPENTER SIR. IN THAT WHILE PROVIDING SERVICES HE USED HAMMER, NAILS, AND PAINT FOR EXAMPLE. FOR THE PURPOSE OF CALCULATION NAILS AND PAINTS WILL BE CONSIDERED AS INVENTORIES RIGHT? IS IT BECAUSE AFTER GOODS CAME TO SALABLE CONDITION IT CONTAINS PAINT AND NAILS ON IT. BUT HAMMER IS NOT A INVENTORY RIGHT?

latest answer

Carpenter just provides services. He does not sell the furniture.

Cafinal n

CA Final

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1

171

As 10

answered on 18-Feb-24 12:59

Why I this sum they did write off revaluation reserve for excess depreciation?

latest answer

There are two choices. One to transfer periodically and other to transfer towards end

Mile s

CA Inter

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1

176

AS23

answered on 17-Feb-24 15:03

ILLUSTRATION-5. In This Problem while calculating net investment there are 2 post acquisition are there one is 31-03-X2 RS 15000/- & 2nd is up to 01-06-X1 Rs 10000/- (60000 x 2/12 x 30%) this amount also should reduce from Cost of Investment. Bust in solution it was not done. Please check.

latest answer

Please refer to the solution taught in the class.

Anjaneyulu Goriparthi

CA Inter

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39

Construction contract

answered on 17-Feb-24 15:04

I can't understand scenario 2 plz any one can explain me it will be helpful

latest answer

Its incorrect.

Mile s

CA Inter

★ 250

2

162

Lease

answered on 17-Feb-24 12:00

Asset given on lease = WDV 470000, MV 500000 Profit 30000, is unrealised then why recorded in pl ? Neither it’s accrued cause the asset is not given sold it’s just given on lease

latest answer

For finance lease its as good as sold

Sushmita Chowdhury

CA Inter

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2

182

AS 7 mcq

answered on 17-Feb-24 08:48

What are the answers to these circled questions in the image ?

latest answer

2.b 3.a

sradha krishna sunil

CA Final

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203

As26

answered on 17-Feb-24 09:24

Answer should be 3b, but answer is 3a How is software tangible

latest answer

Thank you..

Sushmita Chowdhury

CA Inter

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6

235

As26

answered on 17-Feb-24 02:36

I just need to confirm this Discounting factor = for calculating present value Annuity factor for calculating future value Is that’s the diff ? If no pls explain what’s the diff btwn 2

latest answer

I have resolved this query Thank you

Sushmita Chowdhury

CA Inter

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3

178

Rebate on bills discounted

answered on 16-Feb-24 21:57

Why in the second journal entry client account is credited? Can I put cash account instead of client??

latest answer

You should not credit/debit cash or bank account in Accounting for Banks

Devisree

CMA Inter

★ 0

1

263

AS 2

answered on 16-Feb-24 18:47

Here in part b , NRV is lower than cost sir..here it is given as it is more..is this correct sir?.. Cost = 50000 NRV = 55000 - 5500 = 49500 Then we want to less 500 also sir ?..

latest answer

Thank you sir..

shanthini hariharan

CA Inter

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191