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STATEMENT OF PROFIT AND LOSS
Accountancy
answered on 26-Feb-21 16:27
In Illustration 6 of Textbook page no.4.41 of Paper1, opening stock, closing stock, and Purchases amounts are given.... But Under 'Cost of materials consumed', only the value of purchases is included....... i hav attached the qn and answer with this.... But in other questions, we have found the value by using: Opening stock+Purchases-closing stock Why??? Please clear this doubt
latest answer
Ohh kk sir...... Thank You
James Js
CA Inter
★ 1K+
8
593
General
Others
answered on 25-Feb-21 18:18
I have registered for CA intermediate both grps..and my application has been submitted on 24th feb...but i didn't receive any mail regarding my registration... and my application status is to be verified...when will it get verified and will I receive any mail after verification?...I have these queries...kindly help me with it Sir... Thank you!
latest answer
Ok Sir
Pushkala S
CA Final
★ 3K+
2
672
Securities premium account
Corporate & Other Laws
answered on 25-Feb-21 11:24
SECURITIES PREMIUM ACCOUNT CAN BE USED TO WRITE OFF DISCOUNT ON ISSUE OF DEBENTURES can anyone explain me the meaning of above sentence
latest answer
Write off means reducing the value of something. Above statement means balance in SPR account can be used (SPR A/c ..Dr. to Discount) to write off discount. Note that discount on issue of debentures is a capital loss and is either charged against the profits over a period of time (3 to 5 years or during the duration of debentures) or against Securities Premium. Numerically, you receive 95 for Rs.100 debenture (Cash increases by 95, liabilities side by 100, 5 is shown as negative figure in liabilities). Now that 5 has to go from books during duration of debentures. So you either charge it over a period of time against profits or use Securities premium i.e. reduce securities premium by 5 and discount goes off.
Sai Teja
CA Final
★ 14K+
1
836
Partial integration method
Direct Taxation
answered on 25-Feb-21 06:01
What if, Agricultural income Rs.5L Non-agricultural income Rs.1L Whether partial integration method is used?
latest answer
Okay
GOKULA LAKSHMI
CA Final
★ 21K+
2
669
Incentive vs subsidy
Economics
answered on 24-Feb-21 18:37
Is it same ? Plse give explain
latest answer
Incentives is like some bonus money which is given.subsidy means providing something at a lower price
Nivetharaman Raman
CA Foundation
★ 11K+
1
676
Share capital
Accountancy
answered on 25-Feb-21 08:15
Sir, one small doubt..... 1)Under the head Share capital, do we need to include all the following words? Authorised, Issued, Subscribed, Called up and Paid up 2) What to do if the details of everything (authorised, issued,.....) Are same??? I had this doubt for a very long time..... Please Clarify this doubt...
latest answer
Yes, you will have to include all. If all are the same you will have the title heading as Authorised, issued, subscribed & paid-up capital Rs. X - Check the annual report of any listed company you will understand better
James Js
CA Inter
★ 1K+
1
605
Insurance claim
Accountancy
answered on 25-Feb-21 11:17
Sir I have a doubt in illustration 30 on cma material
latest answer
It is given in the question that Stock in 2011 was valued at 10% less cost and closing stock for 2012 is calculated 10% above cost.
Muhammed Riyas
CMA Inter
★ 2K+
4
575
Syllabus Coverage?
Exams
answered on 24-Feb-21 23:05
Dear Sir & Friends, I purchased study material for International Taxation (Elective paper) & IDT for the may Exams. I have doubts about syllabus coverage in the study material. As per Study Guidelines for May 2021 examinations, all notifications, circular & amendments upto 31st Oct 2020 covered to exams. But The study material which I purchased is Nov 2020 Edition. So all the circular, Notifications & Amendment upto 31st Oct 2020 are included in material itself?
latest answer
Thank you so much my friend
M Sairam
CA Final
★ 2K+
2
717
Registration for ca Intermediate
Others
answered on 24-Feb-21 17:02
I can't login through self service portal . It is showing that my password or id is incorrect eventhough I reset my password. Please help me out
latest answer
Try clearing cookies and cache and try again. also check Spam folder for password email.
D square
CA Inter
★ 550
2
619
Income under head salary--SPECIFIED EMPLOYEES
Direct Taxation
answered on 31-Mar-21 23:41
To be a specified employee a person must follow 3 rules of sec-17(2)(|||) then only it is said to be as a perquisites then ,same rule will be applied for the case of house rent allowance also ?
latest answer
S sir , House rent allowance is an allowance not a perquisite..
Roshan Zameer
ACCA Professional
★ 24K+
3
864