Forums
Advance account - buy back
Accountancy
answered on 17-Nov-20 19:22
Illustration 3 - 4th Journal entry Amount transferred to CRR account, but am not get how it is calculated? Please let me know.
latest answer
Preference shares were issued two months prior for purpose of buyback.
Rachith Bhat
CA Inter
★ 10K+
1
704
Cash flow statements
Accountancy
answered on 17-Nov-20 19:38
How is tax paid-advance tax (195) calculated?
latest answer
Last year provision is 180 against which 180 is paid in last year. This year provision is 200 against which 195 is paid. If you prepare provision account and advance tax account, you will understand. This method is covered in class.
vinay ajith
CA Final
★ 10
2
582
Amalgamation, conversion, sale
Accountancy
answered on 17-Nov-20 16:42
In Practical question no.1 attached -said that debtors cannot reduce from provision for bad and doubtful debts because it's not a bad debt. But in question 2- from balance sheet debtors deducted provision for doubtful debts and done the sum. Please clarify
latest answer
Ok
seshu Kumar
CA Inter
★ 61K+
2
794
Income from salary
Direct Taxation
answered on 19-Nov-20 22:32
Sir , Gifts >5,000 is taxable received from employer know sir Is it exempt upto 5,000 and taxable beyond 5,000. Or Irrespective beyond 5,000 taxable..
latest answer
Taxable fully
M Naresh
CA Final
★ 3K+
2
641
GRN/MRN
Information Systems
answered on 17-Nov-20 15:08
When goods are received in the warehouse the in-charge issue a GRN to accounts payable department. If in case the storekeeper fails to properly check the fitness/quality of the goods and some defectives are discovered later, what is the process? will accounts payable dpt be notified and a fresh GRN be sent?
latest answer
It depends on the process and policy implemented by the company. There is no standard defined process.
Kumarjit Dey
CA Inter
★ 4K+
1
1K+
Transfer pricing
Costing
answered on 17-Nov-20 15:10
Transfer pricing
latest answer
What is doubt?
sriharsha ojela
CMA Inter
★ 0
1
763
As 2
Accountancy
answered on 17-Nov-20 15:10
How production 10200 kg ? Raw material consumed is 10200 rite. Since production = opening finished goods +sales -closing finished goods , rite. = 1000+10000-1200kg = 9800 kg rite . Therefore shouldn't production be 9800 instead of 10200 kg Please reply
latest answer
OS + Production - CS = Sales.
Swathi Krishna
CA Final
★ 8K+
1
765
AS 2
Accountancy
answered on 19-Nov-20 11:40
In this question 5 of the notes , Shouldn't we multiple by the selling price by units sold ? But why is it multiple by the units produced ? (While allocating joint cost)
latest answer
Thank you sir
Swathi Krishna
CA Final
★ 8K+
6
691
Doubt on answering
Corporate & Other Laws
answered on 17-Nov-20 11:20
Sir this question I answered that it is a valid contract from point of view of point : natural love and affection it is valid but in key it is given as invalid . I couldn't understand sir from both views also it is correct only know sir ??
latest answer
Yes
Sri kanaga Varshini
CA Final
★ 3K+
8
639
Why is there no mention of Debit note is P2P cycle?
Information Systems
answered on 17-Nov-20 11:02
(See attached) If supplies are procured/purchased and found to be defective, wont the buyer raise a debut note and return those supplies to the vendor along with debit note?
latest answer
Both ways possible.
Kumarjit Dey
CA Inter
★ 4K+
5
741