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Partnership ca foundation
Accountancy
answered on 24-Sep-20 14:49
12. Illustration 2 part -2 Goodwill is transferred to revaluation account In question given that it should be eliminated from balancesheet Why you have not debited the partners capital account as in icai module they have debited the partners capital
latest answer
Ok sir
Vaibhav Salgare
CA Inter
★ 8K+
3
669
Management & Administration
Corporate & Other Laws
answered on 24-Sep-20 13:25
Meaning of compoundable offence
latest answer
Tq sir
Prasanna Jannu
CA Inter
★ 7K+
2
651
Profits and gains of business/profession
Direct Taxation
answered on 24-Sep-20 13:25
Sir ... what is the meaning of specified business?
latest answer
Tq mam
Prasanna Jannu
CA Inter
★ 7K+
2
696
Acceptance of deposit
Corporate & Other Laws
answered on 25-Sep-20 17:10
Under this no explanation for unsecured and non convertible. Why...?
latest answer
What is the doubt?
Ramya Devi
CA Inter
★ 580
1
683
Acceptance of deposit
Corporate & Other Laws
answered on 25-Sep-20 17:11
Under acceptance of deposit in video no 3. In example it says that if debenture convertible within 6 years said to be not a deposit... If trem was 12 years it will be consider as deposit .... Any way it's getting converted in 12 years.... If it is convertible means why we are treating as deposit...
latest answer
These are time limits provided by law.
Ramya Devi
CA Inter
★ 580
1
593
Company audit
Auditing
answered on 02-Oct-20 07:16
In disqualification A person whose relative is a director or is in the employment of the company as a director In this sentence EMPLOYMENT OF THE COMPANY AS A DIRECTOR means what???
latest answer
Director can just be on the board. He need not be employed by the company in any other post.
Kanaga Mani
CA Inter
★ 3K+
3
759
Company audit
Auditing
answered on 24-Sep-20 06:09
In disqualification of audit In 4th point (person himself or the partner has business relationship with any company in the group) Then exception is (professional service or arms length transactions) In 9 th point (any person is providing consulting and specialized services mentioned u/s 144 of companies act 2013 ) this all disqualification One point saying not disqualified another point saying disqualification what is the clear difference?
latest answer
Professional services other than those mentioned in 144 can be provided at arms length. For e.g. book keeping services cannot be provided even at arms length.
Kanaga Mani
CA Inter
★ 3K+
1
663
Working capital management. _ cash budget. Illustration 6 icai material
Financial Management
answered on 24-Sep-20 11:04
Sir here in question it is given as firm had cash balance of 20000 on 1April 2017 but in solution 20000 is taken for all months up to September in begining Rather taking for all months at beginning can we present like this ie after receipts - payments add opening balance of cash 20000 and then less the minimum cash to be maintained . So that April month closing bal of cash becomes opening of may and May's closing becomes opening cash of June Can you explain
latest answer
Thank you sir
Sai E
CA Foundation
★ 37K+
4
943
Insurance claims for loss of stock
Accountancy
answered on 24-Sep-20 11:26
ICAI Material In Illustration 1, we are subtracting written off value from opening stock in next year. But I dont understand why in Illustration 5 and 6, we are adding back the written off value to the closing stock in previous year. Then the written off will not be effected, right? Also we did not subtract the value from opening stock in the next year. Please explain why we are cancelling the "writing off" and where should we all do this. I've attached Illustration 1 and 5 (5 and 6 are similar)
latest answer
Okay sir thank you
Susee Arunachalam
Qualified CA
★ 26K+
4
783
Working capital xyz Ltd. Cash cost basis
Financial Management
answered on 25-Sep-20 17:02
Sir while calculation of cost of production including depreciation it is given that sales - gp% = cop But sales - gp%= cost of sales know sir in question admin exp and selling exp are present then how will cost of sales become cop Please explain
latest answer
Sales - Cost of Sales will be operating profit and not gross profit.
Sai E
CA Foundation
★ 37K+
3
976