Forums
Final accounts
Accountancy
answered on 30-Apr-23 15:41
How to calculate closing stock which is given in 6 adjustment.
latest answer
If you have 100 of Stock, Bank will consider 80% of its value as margin or security. So the value of security that the bank is considering is 80. Loan is given at 80% of security. So 80% of 80 = 64. So amount of loan sanctioned = 100 x 80% x 80% = 64. If Loan is 64 - Inventory is 100 If Loan is 1,60,000 - Inventory is ? If Loan is 1, inventory is 100/64 So for 160000 inventory = 100/64 x 160000 = 250,000
Saketh Reddy Kotla
CA Foundation
★ 21K+
7
882
Consolidated balance sheet
Accountancy
answered on 26-Apr-23 17:26
Why provision for bad & doubtful debts is not adjusted when we made consolidation?
latest answer
Accounting policy should be consistent. Actually in this question, it is an estimate and you can continue to deduct 1%
Kamal Kumar
CA Inter
★ 7K+
5
433
Stipulation (Conditions and Warranties)
Corporate & Other Laws
answered on 30-Apr-23 18:25
Does stipulation refers to a term or condition that is included in the contract, either explicitly or implicitly, and imposes a duty, obligation, or limitation on one or both parties ? Also is this following an example of stipulation ? Example - if a buyer agrees to purchase a particular quantity of goods from a seller at a specified price, the quantity and price terms would be considered stipulations in the contract. If not that what is stipulation in simple words ?
latest answer
Price and quantity etc. would be considered terms of contract, not stipulations. Stipulation is representation which forms a part of the contract of sale and affects it. It can be either condition or warranty. Example: You go to a shop and say you need a product which is suited to a specific condition say a soap suited to particular skin. Now, if shopkeeper gives you a soap which is not suited to that skin, stipulation (condition) has not been met.
Shiv Pandit
CA Foundation
★ 0
1
629
Tax saver deposit
Direct Taxation
answered on 25-Apr-23 22:26
Is there anything called " Tax saver deposit" for deduction proposes or is it simply given to confuse if it's covered under 80C?
latest answer
Okay bro thank you!
Abishek M
CA Final
★ 11K+
6
436
Accounts of Companies
Corporate & Other Laws
answered on 26-Apr-23 14:03
If CSR committee is formed in a FY and in next PY the company do not fulfill the criteria whether the committee will continue
latest answer
If the Criteria under section 135 are not satisfied in any FY then there is no need to maintain CSR committee. Except If Co. is having any amount in unspent CSR Account (Rule 3 CSR Rules)
Amala Joy
CA Inter
★ 70
2
420
Banking companies
Accountancy
answered on 25-Apr-23 22:37
Do we need to calculate grace days for bills maturing after 31st march
latest answer
Thank you so much
Sruthi sruthi
CA Final
★ 640
6
486
IFOS
Direct Taxation
answered on 26-Apr-23 10:35
Explain who are lineal ascendant and descendant os the individual and spouse...with example
latest answer
Any lineal ascendant of an individual - Father/ Mother - Grand Father/ Grand Mother Any lineal descendant of an individual or spouse - Son/ Daughter - Grandson/ Grand Daughter Any lineal ascendant of the spouse of an individual - Father-in-law - Mother-in-law - Grand Father-in-law - Grand Mother-in-law
Dhakshana Dhakshana
CFA L2
★ 18K+
2
696
Sir can use in exam only key word like going concern bussiness entity will continue operation in the forsable further 2 entity does not intensation to close shourt down operation 3 there is no necessity emergency situations to ahourt down the oprasatio
Accountancy
answered on 26-Apr-23 16:49
Only write in exam as 1 going concern company going concern consistany alc police principles are consistantly appled financial statements prepare accural basic conditions Oprasation on forcable furture + no neccessity intention to close Oprasation equal to going concern
latest answer
This is not a properly drafted answer.
Karan Yadav
CA Inter
★ 10
1
528
Forms in law
Corporate & Other Laws
answered on 26-Apr-23 17:21
Actually is there any pdf regarding all the forms suchas 1nc 22,mgt 11 etc. Iam getting confused while reading it along with provisions.
latest answer
You can make a note as you prepare.
Anirudh gupta
CA Inter
★ 27K+
1
429
Cost accounting system
Costing
answered on 26-Apr-23 09:40
Only in this question ,fixed OH recovered on normal capacity ?? I m asking bcoz we usually put fixed expenses as it is in question ryt .
latest answer
Depends on the question
Reetikaa R
CA Final
★ 7K+
4
529