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Query in amount
Accountancy
answered on 06-Feb-24 10:49
Sir in question credit sales given as 28400 But while solving we have entered as 28500 under cash received from debtors whether any error in question or we have to include some other item with it
latest answer
Thank you sir☺️
nive krish
CA Inter
★ 255
3
252
AS16
Accountancy
answered on 06-Feb-24 09:13
Why the borrowing costs do not qualify capitalization? Because the extended period is necesaary for the asset to get ready for sale or intended use so the cost incurred during that period should also be capitalize right
latest answer
If active work is not happening and if that interruption is avoidable, do not capitalise
Harshavardini
CA Inter
★ 180
1
201
As-15
Accountancy
answered on 05-Feb-24 17:31
In defined plan why do we need to discount the amount to present value instead at the end the amt would be the same as the present obligation for eg if the amt to be paid is 100 at the end of 5yrs but why do we need to discount it today instead of just keeping 100rs aside, and also this is an actuarial assumption that employee will stay till 5yr what if employee left his job at 4yr than there would be problem cause we have discounted the amount, kindly please give clarity about this
latest answer
cause that is future payment and to record today it should b recognised in PV 5 or 4yr that's estimate but still we do make provision everytime
yash prajapati
CA Inter
★ 0
2
224
Branch account
Accountancy
answered on 09-Feb-24 19:02
Does Branch profit is recorded as other income In statement of profit and loss of schedule 3 Or branch account is consolidated with the head office books?
latest answer
No. Not required
Atharv Sankliya
CA Final
★ 3K+
3
201
AS16
Accountancy
answered on 05-Feb-24 11:52
when a qualifying asset is purchased it takes 4 months of time to get ready for its use so when we purchased we incur some cost right now the cost that we incur is charged to respective asset acc. or p&l a/c?
latest answer
Borrowing costs that are directly attributable to the acquisition, construction, or production of a qualifying asset should be capitalized as part of the cost of that asset. So if 4 months is considered to be a substantial period of time (generally less than 12 months is not considered to be substantial), then you can capitalise.
Harshavardini
CA Inter
★ 180
4
296
capital Introduction
Accountancy
answered on 05-Feb-24 12:44
In Chapter 2 Framework For Preparation and Presentation of Financial Statements . Illustration 2 . At the time of introduction of capital Asset increased , but Liability not increased . Why is it so . At the time of capital introduction, Asset ( Cash / Bank ) and Liability ( Capital ) will increases is it so ?
latest answer
Capital is not called liability. It is referred to as capital.
Rithwik pookkot
CA Inter
★ 3K+
1
95
management test
Accountancy
answered on 05-Feb-24 12:46
in management test company choice how many no. of. number of segment as a reportable segment
latest answer
Yes.
Raliya Kani
CA Inter
★ 2K+
1
98
Framework on prepation and presentation of FS
Accountancy
answered on 06-Feb-24 07:55
How to calculate present value factor?
latest answer
Ok sir
Harshavardini
CA Inter
★ 180
8
231
AS-2
Accountancy
answered on 07-Feb-24 11:25
What is the answer for these 2 questions?
latest answer
Admin overheads are never included in cost of inventory.
Lavi Lavanya
CA Inter
★ 6K+
8
314
AS18
Accountancy
answered on 07-Feb-24 11:37
In 6th video of As 18 you Said about the related party transactions.. whether director will be related party to a company ?
latest answer
Yes.
Jashvanth.K
CA Inter
★ 11K+
1
103