Forums
Journal entry
Accountancy
answered on 28-Nov-22 12:36
Can we write 4th transaction as: Cash A/c 10000 To Commission A/c 5000 To Commission received in advance A/c 5000
latest answer
Yes
Ameena Yasmine PA
CA Inter
★ 3K+
3
875
Material cost
Costing
answered on 24-Jan-23 19:26
Average level of inventory While calculating average stock level using 2 formula i am getting 2 answer , is that possible ? in text book they use formula Avg stock level = (Minimum stock +maximum stock) / 2 I used Minimum stock +1/2 re order quantity Got different answer
latest answer
Both the formulae will give different answers only. But, both are correct and marks will be given for both. Generally, use the first one. Then, you may put a heading as "Alternative solution" and below it, write the second one.
AMALRAJ R S
CA Inter
★ 410
6
626
How to find binomial or probability ?
Maths & Stats
answered on 29-Nov-22 08:14
How to find binomial or probability ?
latest answer
And is A
Sai G
CA Inter
★ 6K+
6
569
Journal entry
Accountancy
answered on 28-Nov-22 12:37
For the first transaction, can we write : Cash a/c Dr. To capital a/c
latest answer
Cash /Bank a/c......Dr. To Capital a/c
Dova Shaji
CA Inter
★ 520
5
779
How do we read this
Corporate & Other Laws
answered on 28-Nov-22 10:12
Section 2(h) Section 2(8) ?????
latest answer
If there are no words after the section number (except title), like below 139. (1) Every person,â?? (a) being a company or a firm; or It is section 139, sub section (1) and clause (a)
Prathmesh kharul
CA Foundation
★ 3K+
4
405
Nov-22 Question paper -reg.,
Corporate & Other Laws
answered on 28-Nov-22 12:49
In the question in the picture it has been mentioned that the deposits were repayable "after" 3 years i.e., 36 months. But as per the provision, the deposits should be repayable within 36 months. Can we specify this provision and conclude that the deposit is invalid.
latest answer
Here the question is asking to check whether the security created as charge against deposit are sufficient or not as per company law provisions
Manoj Kumar 007
CA Inter
★ 19K+
2
466
Replacement Cost
Accountancy
answered on 28-Nov-22 10:18
What is the use of this replacement cost in accounting? Can anyone explain me with an example?
latest answer
You will learn in AS-2
Snehashis Mohanty
CA Inter
★ 35
8
800
Replacement Cost/Current Cost
Accountancy
answered on 28-Nov-22 10:26
Can anyone give me an example of liability on Replacement Cost or Current Cost basis
latest answer
What is context?
Snehashis Mohanty
CA Inter
★ 35
1
388
Ineligible Input Tax Credit claimed
Indirect Taxation
answered on 29-Nov-22 10:50
Sir, My question is there is a registered person under GST Law who needs to file GST Returns. He has purchased goods from registered person. If he files the GSTR3B for the month of October he should only take input tax credit which is reflected in the GSTR2B, if the supplier didn't file his GSTR1 then it won't reflect in the GSTR2B hence he is not able to avail the same. In the above scenario what if the supplier files his GSTR1 for the month of October in two months later but the taxpayer files his GSTR3B as per his own records where the ITC for purchase of goods which is not even reflected in the GSTR2B and after two months the same is reflected in the GSTR2B in this time the taxpayer has been ignored because he has already taken the credit for the same. Since then there will no time lag between GSTR2B and GSTR3B. Even though the taxpayer has availed ITC as per the GSTR2B for 11 months but he has not availed ITC as per the GSTR2B for one month but in aggregate at the end of the year there is no excess ITC has claimed. So what will be the treatment for this violation from the act for that one month, will he need to pay any interest for this violation if yes then how can he compute the interest for the same.
latest answer
Interest is 18% per annum generally but for excess ITC CLAIMED interest is 24 percent per annum. So calculation is done on day basis only
Muthu Selvam
CA Inter
★ 7K+
3
664
Company accounts
Accountancy
answered on 26-Nov-22 23:27
If 2000 shares are issued and 2400 are applied app- 40 all-50 (inc. premium 20) calls- 30 . Mr. A applied for 120 shares failed to pay allotment. Later these shares were forfeited . Can anyone give journal entries for this question..
latest answer
Thank you.
Jahnavi Jaijapuram
CA Foundation
★ 6K+
4
564