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Which expenses of these following expenses are treated as insured standing charges expenses

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subramanyam yendakuarthi

subramanyam yendakuarthi

CA Inter

3K+

22-Feb-20 22:28

49

Answers (13)

Standing charges means fixed expenses And insured standing charges means standing charges which are insured . So any fixed expenses can be insured . It should be given in the question . otherwise appropriate assumption can be taken


Chandan Subudhi

Chandan Subudhi

CA Inter

12K+

23-Feb-20 20:37

It depends on the contract between the Insurer and Insured. The insurance contract would define what are the charges which are insured.


Suraj Lakhotia

Suraj Lakhotia

Admin

24-Feb-20 06:03

It depends on the contract between the Insurer and Insured. The insurance contract would define what are the charges which are insured.

Sir, in some questions they are including selling expenses in some other not selling expenses how can we estimate


subramanyam yendakuarthi

subramanyam yendakuarthi

CA Inter

3K+

24-Feb-20 06:06

Sir, in some questions they are including selling expenses in some other not selling expenses how can we estimate

Pls share the question. The wordings of question will help us understand.


Suraj Lakhotia

Suraj Lakhotia

Admin

24-Feb-20 06:14

Pls share the question. The wordings of question will help us understand.

Sir, In Ramda and sons they included selling expenses where as Sony ltd they doesn't use selling expenses

Attachments

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Screenshot_20200224_061744.png


subramanyam yendakuarthi

subramanyam yendakuarthi

CA Inter

3K+

24-Feb-20 06:19

Sir, In Ramda and sons they included selling expenses where as Sony ltd they doesn't use selling expenses

The question gives following towards standing charges insured. Ramda & Sons - The policy states that 156,000 is insured. Sony limited - 50,000 Is this what your doubt is?


Suraj Lakhotia

Suraj Lakhotia

Admin

24-Feb-20 06:23

While calculating gp which are gp in both questions


subramanyam yendakuarthi

subramanyam yendakuarthi

CA Inter

3K+

24-Feb-20 06:27

While calculating gp which are standing charges are taken


subramanyam yendakuarthi

subramanyam yendakuarthi

CA Inter

3K+

24-Feb-20 06:27

While calculating gp which are standing charges are taken

Gross Profit = Net profit + Insured Standing Charges.


Suraj Lakhotia

Suraj Lakhotia

Admin

24-Feb-20 21:20

May be his question is in above question while calculating gross profit why selling expenses are not considered. Where in some other questions they are considering selling expenses also as insured standing charges


Star Ca

Star Ca

CA Inter

3K+

26-Feb-20 21:16

May be his question is in above question while calculating gross profit why selling expenses are not considered. Where in some other questions they are considering selling expenses also as insured standing charges

You have to consider insured standing charges which is given in question. Please note that the GP for additional expenses is different from normal GP and this has been extensively covered in class.


Suraj Lakhotia

Suraj Lakhotia

Admin

27-Feb-20 16:46

Yes sir normal g/p means = net profit+ insured standing charges. #g/p for additional expenses is g/p%on adjusted annual turn over. Satya.. Sir clearly. Am i correct


Star Ca

Star Ca

CA Inter

3K+

02-Mar-20 22:20

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