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Rounding off on Average due date
Accountancy
answered on 05-Jun-23 10:14
Sir/ma'am if <0.5 then lower round off? Eg.12.4=12 If >or= 0.5 the upper round off? Eg.12.6=13 12.5=13?
latest answer
if due date is fraction, round it off to the nearest whole number.
Hena Desai
CA Foundation
★ 5
4
444
Creditors
Financial Management
answered on 17-May-23 12:38
Estimated production:1000 units In some problems while making payment to creditors they are including 1000 units cost + closing stk for that year In some way estimate production: 1000 units Payment to creditors: only for 1000 units made Why? Kindly if anyone's know.. say!!
latest answer
Thank you sir
Saravana Perumal
CA Final
★ 3K+
4
450
Provision for bad and doubtful debts
Accountancy
answered on 17-May-23 00:04
1)In some problems, when credit balance of PBDD is given, and debit PBDD is found in adjustments, the net amount is written in P and L a/c 2)But in some problems, PBDD a/c is drawn, bad debts are written off and then the amount to be taken to P and L a/c is ascertained. When to do 1 and when to do 2??
latest answer
I got the answer, thank you
Jaswanth P
CA Inter
★ 3K+
1
505
Forfeiture of shares
Accountancy
answered on 17-May-23 11:34
Is this correct: Forfeiture shares a/c 50,000 To Capital Reserve a/c 50,000
latest answer
It is also correct
Lathika
CA Inter
★ 6K+
5
542
Production and sales
Financial Management
answered on 16-May-23 22:24
In question: Estimated production: 12000 units Finished goods: 3 months and there is no information about opening Finished goods stock But in answer : They are calculating sales, in P&L On such sales they are taking 12000 units as full sales *My doubt is*: when there is closing stock (Finished Stock) is there how can be sales = production level, same as 12000 = 12000 Kindly anyone explain.
latest answer
It is assumed that closing stock is equal to opening stock
Saravana Perumal
CA Final
★ 3K+
1
481
35D
Direct Taxation
answered on 17-May-23 11:54
In this we have some specified exp and limits of 5%. 5% is calculated on either total cost of project or capital employed. Resulting figure we will take as deduction over 5yrs. But what abt those specified exp like MOA,prospectus,company reg fees. So those exp are 100% allowed as ded?
latest answer
Limit is for all expenses. For demerger cases, you need to identify prelim expenses pertaining to undertaking being demerged. Dont go so deep for exams.
Sugam SM
CA Final
★ 9K+
2
446
Eis and sm
Exams
answered on 16-May-23 22:24
How was today's paper ?
latest answer
Ok bhaiya
Radhika Bajaj
CA Inter
★ 3K+
2
527
Cost of Investment receivables
Financial Management
answered on 17-May-23 11:57
Cost of Investment in receivables should be calculated on basis of Variable cost or Total cost (Variable+fixed)
latest answer
Can you share the reference to such questions? Normally it is Variable + Fixed cost as mentioned above
Saravana Perumal
CA Final
★ 3K+
4
484
Assets held for marketing purpose
Accountancy
answered on 21-May-23 07:35
Does assets held for marketing purpose qualify to be an PPE
latest answer
Yes it will qualify
Atharv Sankliya
CA Final
★ 3K+
2
419
Creation of CRR
Accountancy
answered on 17-May-23 12:08
CRR (capital redemption reserve) is to be created on the same day the company redeems preference shares(PS), or can be created at the end of Financial year in which redemption of PS took place . For eg. In FY 2022-23, Redemption too place on 28 January, 2023, so CRR has to be created on 28 Jan 2023 only, or we can also create it on 31 March 2023 (end of same FY in which redemption took place)?
latest answer
Ok sir
Garima Bhargava
CA Inter
★ 185
2
586