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answered on 14-Mar-21 10:58
Sir from where can we get the answer of long answers questions given in Modules Test you Knowledge section?
latest answer
Will check but not sure
Priyanka Udeshi
CFA L1
★ 14K+
11
604
fast moving item
Costing
answered on 15-Mar-21 10:19
Can someone solve this question?ð??? I got the answer as material X. But the inventory turnover ratios I got are so big.
latest answer
Please provide your workings. We will let you know if it is correct.
Ali S
CA Final
★ 8K+
2
623
Admission of partner
Accountancy
answered on 13-Mar-21 16:27
Why that entry (coloured part) has been passed in partner capital accounts
latest answer
It will tally. Increase in Bank by 25,000 and Beeta's capital by 25,000
siva chaitanya
CA Final
★ 13K+
5
742
AS 2
Accountancy
answered on 12-Mar-21 22:04
In question 4 how we know that excise duty is at rs10/unit
latest answer
It got missed in the question. Please read it as : Purchase price includes an excise duty of Rs. 10 per kg in respect of which full CENVAT credit is admissible.
Agness Blessy
CA Final
★ 2K+
3
750
semi annual
Costing
answered on 15-Mar-21 10:39
If semi annual carrying cost is given as 5%, then while finding EOQ it should be taken as 10% .right?
latest answer
Yes. Semi annual is for half-year.
Ali S
CA Final
★ 8K+
1
633
total carrying cost at EOQ
Costing
answered on 15-Mar-21 10:31
In finding total carrying cost at EOQ, is min stock always 0 while finding avg stock level (=min stock +EOQ/2), even if min.stock is given as, say 1000 units? At all other reorder quantities, it is obvious to take min stock as 1000(in this case) while finding average stock. I am asking about at EOQ level.
latest answer
Minimum stock is taken at a value given in the question and will not be taken as '0'. Where is it specified that you should take it as '0'?
Ali S
CA Final
★ 8K+
1
569
Admission of partner
Accountancy
answered on 12-Mar-21 22:45
Why workman compensation fund is going to partners capital accounts
latest answer
Workmen Compensation is a type of insurance policy that safeguards an employee against any injury or death during the job time. By the statement "no actual liability" they mean, nothing from the fund was utilised to compensate any injury
siva chaitanya
CA Final
★ 13K+
3
738
Dividend declaration
Corporate & Other Laws
answered on 14-Mar-21 20:33
"Declared can be declared out of current year or previous year profits" What does current year and previous year actually mean Which year do they refer to? And also if a company conducts AGM on 30th June 2020 then it is called as AGM for which year 2019-20 or 2020-2021 Please answer..
latest answer
Yes thank you
Sai Teja
CA Final
★ 14K+
5
590
Doubt
Others
answered on 12-Mar-21 14:48
Sir plz explain what is this....new or revised scheme ...whats it.... See attachment
latest answer
IPCC to Inter & Or final old to New for May / June 21 exams the last date for conversion April 5th
Amisha Mahajan
CA Foundation
★ 2K+
1
547
GST sec 10 composition scheme
Indirect Taxation
answered on 12-Mar-21 16:55
Sir /madam. Sec 10 says a registered person can opt for composition scheme when aggregate turnover does not exceed 1.5 crores (other states) or 75 lakhs ( 8 special category states) and also it is calculated on same PAN on all india basis not on gst number (state wise). But if a person do business in manipur (special category state) and also in Maharashtra (other states) and it is registered under same PAN and his aggregate turn over is RS. 80 lakhs. Can he opt for composition scheme ? Which limit will be applicable on him 1.5 crore or 75 lakhs?
latest answer
Aggregate turnover considered for compositions scheme is value of all (taxable supplies+Exempt supplies+Exports+Inter-state supplies) â?? (Taxes+Value of inward supplies+Value of supplies taxable under reverse charge + Value of non-taxable supplies) of a person having the same PAN(Permanent Account Number) across all his business entities in India. The limit applicable in this case is Rs.75 lakhs
Balamurugan V
CA Final
★ 52K+
1
703