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Final accounts of company
Accountancy
answered on 31-Aug-21 19:29
Treatment of proposed dividend shown in trial balance of company 1.Deducted from reserve or 2.shown as other current liability
latest answer
I don't find one but they are give in cash flow question . I think it has same treatment as intrem divided
Manu Sharma
CMA Inter
★ 370
10
644
Cost of capital
Financial Management
answered on 30-Aug-21 20:28
Why the net proceeds value is taken as market value even though the question specifically specifies that the debentures are issued at par....Is it bczz of the reason that the company wants to know the current cost of its existing debt
latest answer
They are asking for 1.4.17
Shriram Ravichandran
ACCA Skill
★ 2K+
5
671
Goodwill
Accountancy
answered on 03-Jun-24 17:20
What is mean by " remuneration from alternative employment of the proprietor " mentioned here and we are not account for it in the profit and loss account but accounting here?
latest answer
These are implicit costs or opportunity cost. Or you can consider fair share of remuneration that you would have paid to the prop.
Vijay K
CA Inter
★ 9K+
3
1K+
Reg po and invoice
Accountancy
answered on 30-Aug-21 14:50
If company A ltd issue purchase order to B ltd for 1 product amounts to 100 , they later realise the market value of the product increases and assume there may be variation in invoice . What should be the accounting treatment. Should they create provision?
latest answer
No provision needed Simply revise PO
Naveen kumar
CA Inter
★ 0
1
593
Grammer
Others
answered on 30-Aug-21 13:40
Mam/Sir What is idioms with yours layman's language examples also I want ....
latest answer
An idiom is a common word or phrase which has a meaning that differs from what its words separate would suggest; i.e. the words together have a meaning that is different from the dictionary definitions of the individual words. EG: Kill two birds with one stone means doing 2 things with one action Piece of cake means very easy. Beat around the bush means avoiding saying what you mean and trying to delay.
Balachandar S
CA Inter
★ 59K+
1
551
GST
Accountancy
answered on 30-Aug-21 15:57
Why gst payable is liability not an expense
latest answer
My pleasure bro or rather my duty:)
Harsh sharma
CMA Inter
★ 55
7
554
MCQ
Direct Taxation
answered on 30-Aug-21 12:39
How Mr. Tejas be a RNOR? (as given in most appropriate answer) Please find mcq in attachment.
latest answer
Section 6(6)(c) A citizen of India, or a person of Indian origin, having total income, other than the income from foreign sources, exceeding fifteen lakh rupees during the previous year, who has been in India for a period or periods amounting in all to 120 days or more but less than 182 days, he becomes resident not ordinarily resident.
Rinuja TK
CA Inter
★ 10K+
1
662
ITC Reversal
Indirect Taxation
answered on 08-Sep-21 14:40
Can we reverse excess ITC claimed in previous FY during the current FY ?
latest answer
Ok .Thank you
Sahana S
CA Final
★ 25
4
749
Joint promise
Corporate & Other Laws
answered on 07-Sep-21 09:41
In the example given in the image, X's obligation is 2k. He became insolvent. But his assets are sufficient to pay one half of his debts. So, 1k can be got from him. Then what about the the remaining 1k. Should the co-promisors bear it? But in this example, they didn't bear it. Pls explain
latest answer
And also keep it in mind that until all assets are compensated for liabilities, a person can't be declared insolvent by court. All assets will be cleared off to compensate as much as liabilities possible and thereafter an individual is declared insolvent. So , no insolvent has assets owned .
Sibi Srinivasan
CA Final
★ 22K+
6
570
Relations between partners
Corporate & Other Laws
answered on 30-Aug-21 11:02
Sir there are videos on dissolution of the partnership on the app but there is nothing about dissolution in our material so is it important to learn even about dissolution?
latest answer
Dissolution of partnership is a short topic within Dissolution of firm. ICAI SM - Pg 3.49
Soumya A
CA Inter
★ 20K+
2
553