Forums
goods in transit
Accountancy
answered on 09-Apr-21 10:27
What is its treatment in branch accounts abd balancesheet
latest answer
Stock at branch including transit is shown in the credit side of Branch a/c / Branch stock a/c or Trading & profit and Loss A/c as the case may be.
Sajan Gangadharan
CA Final
★ 9K+
1
676
branch accounting old syllabus group 2
Accountancy
answered on 09-Apr-21 10:59
practice manual question no. It says that the goods from head office are sent to branch at cost plus 10%. And all the sales by head office or by branch were made at a gross profit of 25% on their respective cost. Whether this computation is correct or that of the computation given in attachment of pm. Sales 820000/125*110 = 721600 Add shortage 20000/125*110=17600 Less goods sent. = 924000 C. S. = 184800 C. S as per pm is 208000. I am attaching both q and ans
latest answer
One given in PM is correct. You should not multiply with 110 - it should be 82000/125*100 only Sale price/125*100 will give cost at which branch received. On that later, we will apply 10/110 for calculating stock reserve for h.o. and branch as total
Sajan Gangadharan
CA Final
★ 9K+
1
700
Composition scheme
Indirect Taxation
answered on 12-Apr-21 00:35
If a person is carrying out business in the state of Tamil Nadu and in the state of Manipur, What is the limit of aggregate turnover? (i.e) Rs.1.5 cr or Rs.75 L
latest answer
Please ignore the ans
Nivedha Balaji
CA Final
★ 9K+
4
705
Core banking systems
Information Systems
answered on 09-Apr-21 14:16
Will you please suggest me which are the most important topics are to be covered
latest answer
We cannot suggest important topics as questions can come from anywhere. You can however have a look at our revisionary lectures on EIS on youtube.
satya nagulapalli
CA Inter
★ 150
1
640
Point (b)
Corporate & Other Laws
answered on 09-Apr-21 09:52
What type of transaction or agreement is point (b) referring to?
latest answer
False statement by A for inducing say B to enter into an agreement with him so that B sells shares and A gains by fluctuation in market prices.
Aman Mahajan
CA Final
★ 19K+
1
631
Doubt
Costing
answered on 09-Apr-21 12:23
Why in absorption costing method factory overheads is given more importance ?
latest answer
We allocate all the factory overheads which are fixed/variable in nature on the basis of the appropriate cost unit which in turn gives overhead rate for that particular cost unit. So, this cost unit need not specifically be fixed in nature.
Sri kanaga Varshini
CA Final
★ 3K+
3
665
Interest on pre-construction period sec 24(b)
Direct Taxation
answered on 08-Apr-21 22:26
If a loan is taken on 31.1.2019 and house property is completed on 31.10.2020 Since construction completed in the year 2020-21,whether interest upto construction completed date(31.10.2020) is deductable or upto the year of completion(31.3.2020) is deductable??
latest answer
Ok...thank you sir
Nagesh S Hegde
CA Inter
★ 11K+
4
885
Doubt
Accountancy
answered on 08-Apr-21 19:26
Forfeited share amount in "balance sheet" is added with subscribed capital or capital reserve ..?
latest answer
Thank u sir understood
Sri kanaga Varshini
CA Final
★ 3K+
4
642
companies act,2013
Corporate & Other Laws
answered on 08-Apr-21 19:07
company ltd by guarantee: in this scenario members of the company guarantee some amount to the company when the company is winding up. my question is when will the members get back their money that they contribute to the company.
latest answer
They will not get back the money. They had undertaken to contribute a stipulated sum at the time of winding up and now they will contribute that amount. Against this guarantee, they have already enjoyed company membership.
Khyati Kalepalli
CA Inter
★ 26K+
2
564
Explain question 6
Corporate & Other Laws
answered on 29-Apr-21 14:02
Which provision is suitable for this question?
latest answer
Okk now got tysm
Adarsh Gudivada
CMA Final
★ 28K+
4
726