Forums
Firm's Rent waived by landlord accounting
Accountancy
answered on 30-Apr-23 15:28
Is there any accounting treatment for the rent waived by landlord during pandemic Does it is considered as gain for the purpose of accounting?
latest answer
If rent waived off there is no accounting requirement. However as you move to CA Inter/CA Final you will understand the concept of lease accounting where you will see the impact of rent waived etc.
Anjali S
CA Inter
★ 0
8
415
Sales promotion expense as cost of production
Accountancy
answered on 30-Apr-23 15:28
Does sale promotion expense is a part of cost of production if the promotional gift is inbuilt in product Like free premium of Netflix, YouTube in mobile phone Or we have to record it in p&l a/c as sales promotion expense?
latest answer
Yes
Atharv Sankliya
CA Final
★ 3K+
3
409
Mcq
Direct Taxation
answered on 30-Apr-23 10:28
This will be deducted u/s194B @30% If amount is more than 30000 They have given answer as D
latest answer
The threshold limit for this will be 10,000 above that 30%tds will be deducted..answer will be D
Krutika Ithape
CA Inter
★ 2K+
1
529
Pre post
Accountancy
answered on 30-Apr-23 15:30
Explain this point
latest answer
This is basically interest paid to vendors from the date of taking over till date of incorporation. Anything post incorporation, you will show in post incorporation.
Sugam SM
CA Final
★ 9K+
2
436
Income from house property
Direct Taxation
answered on 30-Apr-23 15:29
If me and my brother own a house and it has two units and it has been let out.one unit is let out for my friend where i collect 15000 monthly and my brother rents it to his friend and collects 20000 monthly .now for income from house property should we add both the rent and dividend it by 2 and show it as income or we can show separately as per how much we collect?
latest answer
If it is joint ownership, it would be based on ownership ratio.
Gokul Nath
CA Inter
★ 605
4
438
Pre and post incorporation
Accountancy
answered on 29-Apr-23 21:36
While solving problems are we supposed to write the proper p and l format ? In some places it’s given in proper format, and sometimes it’s not .. which should I follow
latest answer
Normal format given in class is fine
SANSKRITI BADRI 2111339
CA Final
★ 4K+
1
474
Correct or incorrect evaluation
Auditing
answered on 30-Apr-23 19:44
Sir in audit correct or incorrect since they are scoring not to miss any chances is we attempt all 8 will they correct all and select best??
latest answer
Okay sir Thank you, I never knew it!
Harshitha Kalidindi
CA Final
★ 51K+
4
507
Overheads
Costing
answered on 30-Apr-23 15:26
Why electricity is not allocated to service departments?
latest answer
Direct costs would be traced to respective departments. Allocation arises in case of overhead only
Ujwal Reddy
CA Inter
★ 7K+
6
599
forex
AFM
answered on 29-Apr-23 18:50
illustration 88 Dont we require to add marign to 63.7275 -the new forward contract rate? at time 7.44 also what does this 2nd question amount payable on usd 1 lak means? does it mean cancellation charges or exchange loss?
latest answer
Yes - i explained the margin part at 17min . 40 sec - pls go through the problem fully Secondly, on what is the amount payable on 1lac USD, it could mean the total amount payable including the cost of the new contract and gain loss on cancellation, etc 63.79 x 100000 + 93282 or it could mean cancellation gain loss as in part 1 they have asked only cancellation rate but not total cancellation amount
nazriya nasar
CA Final
★ 7K+
1
584
Economic activity & Non-economic activity
Economics
answered on 29-Apr-23 21:21
Is employment in a charitable organisation economic activity or non-economic activity?
latest answer
Economic activity Because, for such employment he/she will be paid by charitable organisations
LAVANYA M
CA Final
★ 3K+
2
512