Forums
Bank reconciliation statement
Accountancy
answered on 04-May-25 15:32
I can't understand 7th and 8th entry
latest answer
in the 8th entry Bills payable was paid by bank at a discount of 700. So bank basically paid 39300. However, the cashbook has wrongly recorded it as 40 000. So the credit side of the cashbook is more than the bank statement by 700. So we add the 700 to 'Bank overdraft as per bank statement' value so as to increase the value of overdraft to match with cashbook overdraft.
Sweatha Mylraj
CA Foundation
★ 180
2
231
Bank reconciliation
Accountancy
answered on 13-May-25 22:41
I don't understand part (iv) of the question. The cheque of 10 000 was encashed after 1st April. And cheques of 31 200 have not been presented for payment before 31st March. Shouldn't the entire 31 200 be added to bank overdraft as per passbook?
latest answer
Okay sir
Asmita Kar
CA Foundation
★ 7K+
5
211
Tds
Direct Taxation
answered on 06-May-25 07:48
The threshold limit apply to primary agri credit society or cooperative society or both ?
latest answer
Both
Sushmita Chowdhury
CA Inter
★ 2K+
1
178
BVPS
AFM
answered on 05-May-25 11:18
In book value, i recomputed it as Total shares =105L Value per share= 5 Eq share Cap= 525L R & S= 1300L Net Worth= 1825L No. of shares= 105L BVPS= 17.381 Why is it wrong, as post acquisition i will issue bonus and split then my net worth will also get revised
latest answer
Achaaa ! Understood Sir !!
Hrishikesh Pradhan
CA Final
★ 18K+
2
206
Ethics
Auditing
answered on 14-May-25 17:35
if CAP fails to mention his MN, FRN, and UDIN in the report, does this professional misconduct come under either Clause 12, Part 1 of the First Schedule, Clause 9 of Part 1 of the Second Schedule, or both?
latest answer
Clause 1 of part II of second schedule
kathiresh V
CA Final
★ 15K+
3
191
Inflation rate in India
AFM
answered on 04-May-25 09:33
Sir, the question says that the inflation rate in india is 6% and is expected to decrease 0.5% every year, why can't we assume that the inflation for year 1 will be (6% * 0.95) 5.7%
latest answer
Usually they do not give Questions like that - they will be every specific If you make such assumptions you will not get marks. Assumptions have to be reasonable considering the situation
Nitin Raj
CA Final
★ 270
1
240
Tds
Direct Taxation
answered on 06-May-25 07:49
Can this be interpreted as the format way
latest answer
Yes. Employer will consider other income TDS as well
Sushmita Chowdhury
CA Inter
★ 2K+
2
186
Interest
Financial Management
answered on 04-May-25 06:37
Intrest should be 360000₹ only right because it's starts from August Then why we calculating as per 12months i.e, 540000
latest answer
For current year it is for 8 months After project is implemented in the next year it will be for full 12 months
anju B
CA Inter
★ 21K+
1
169
Sec 203
Corporate & Other Laws
answered on 07-May-25 20:54
Please Provide answer to the Question with an explanation
latest answer
The Companies Act, 2013 does not explicitly talk about part-time Key Managerial Personnel (KMP). The provisions says that A whole-time key managerial personnel shall not hold office in more than one company except in its subsidiary company, at the same time. Exceptions: Person may be appointed as MD if he is MD/Manager in one other company --> With unanimous consent of Directors present in Board Meeting.
Chan Dra
CA Final
★ 0
1
343
OCI
Accountancy
answered on 12-May-25 12:34
Please share Accounting entries for OCI for Actuarial gain loss on Gratuity with presentation in FS
latest answer
Dr. OCI Cr. Provision for Gratuity / DBO
Aadish Jain
Qualified CA
★ 0
1
195