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Happy anniversary to IL
Others
answered on 21-Mar-22 10:11
Hearty congratulations and happy 5th anniversary to The Founders, teachers, tech team and every other person who works for IL . kudos to IL's good work .
latest answer
Thanks a lot!
nisam M
CA Final
★ 23K+
3
583
Charitable trust
Direct Taxation
answered on 18-Mar-22 23:05
For charitable trust there is a 15% standard deduction allowed, my doubt is whether the 15% deduction will be allowed in gross receipts or on the income after deducting the expenses incurred.
latest answer
Gross Receipts
Divya Dharshini R P
CA Final
★ 6K+
3
545
Reference books
Accountancy
answered on 19-Mar-22 11:04
Advanced accountancy should I buy any other teacher's reference books other than institute modules,rtp,suggested answers,mtp ?
latest answer
Ok
Venkatesh .
CA Inter
★ 4K+
4
578
Adjustment
Accountancy
answered on 18-Mar-22 19:15
Trial balance: Furniture ---Rs. 84600 Sale of furniture (1-10-16)--- Rs. 14600 Adjustment: Calculate 5% depreciation on furniture What's the amount of depreciation Note: furniture and sale of furniture is written in trial balance
latest answer
Whatever i said in case 1 is just correct follow that one only. Whenever rate of depreciation is given without word p.a. we just calculate depreciation on opening balance ignoring the time factor.
Rishi jain
CA Final
★ 1K+
7
568
Overtime - Employee costing
Costing
answered on 19-Mar-22 17:27
working hours in a day = 10 hrs No of days worked in a week = 4 days Complying with the provisions of Factories Act, 1948 Overtime worked = 1hr x 4 days = 4 hrs Am I right?
latest answer
Yes u are
Girinath A
CA Inter
★ 765
3
463
Banking companies
Accountancy
answered on 18-Mar-22 22:37
Logic behind this adjustment?? *Included in the current accounts ledger are accounts overdrawn to the extent of 25,00 Doubt: overdraft is a asset for the banking company,In question they said that it is included in the credit side of current account Which is a liability which means we have to deduct the overdraft from the current account but why they have added the overdraft in demand deposit????
latest answer
Increase
Shinisha Rose R
CA Final
★ 11K+
2
493
Overhead
Costing
answered on 19-Mar-22 11:14
Please any of them explain this question
latest answer
Which point you did not understood?
Dimple Keziya
CA Inter
★ 4K+
1
517
Overhead
Costing
answered on 19-Mar-22 08:52
Please any of them explain this question
latest answer
Ok
Dimple Keziya
CA Inter
★ 4K+
5
480
Unrecorded rent
Auditing
answered on 18-Mar-22 16:06
If we found an unrecorded rent during audit then what are further procedures
latest answer
You need to enquire and find out why it was not recorded. If it is not rectified, you need to accumulate as a misstatement.
Hai Iam Anas
CA Inter
★ 8K+
1
503
Investing cash flows
Accountancy
answered on 18-Mar-22 17:30
Pls explain the term marked in the image and provide an example for that
latest answer
Ok sir thank you
Sibi Srinivasan
CA Final
★ 22K+
3
440