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Accountancy
answered on 06-Nov-23 13:37
I am confused between BALANCE B/D AND BALANCE C/D please help. Even I am confused in Dr Bal and Cr bal of Cashbook and passbook
latest answer
Dr. Balance in cash book - Its an asset - receivable from bank Cr. balance in cash book - liability - payable to pank Dr. Balance in passbook - Bank has to receive / we have to pay Cr. balance in passbook - Bank has to pay us / we need to receive. So whereever you see a debit balance - think of it as an asset and receivable. So if bank passbook has dr balance - Bank's Asset - Bank to receive.
Prathmesh Kharul
US CMA All
★ 6K+
2
416
pay back period
Financial Management
answered on 06-Nov-23 10:48
2) if a firm used a single cut-off period for all the projects, it is likely to accept too many short lived projects. true or false? with reason
latest answer
True - LT projects may always not have as high return leading to accepting short term projects only
lohith perumalla
CA Inter
★ 8K+
1
362
Time of supply
Indirect Taxation
answered on 06-Nov-23 14:01
Sir this sum, Date of receipt of payment of supplier means date when payment is entered in books of supplier Or Date when payment is credited in bank a.c of supplier. Whichever is earlier Here Date when payment is entered in books of supplier is 20.01.20. Date when payment is credited in bank a.c of supplier ( means date when we receive money) is 12.01.20 So date of receipt of payment of supplier is 12.01.20 But in class you told 20.01.20 as date of receipt of payment. Sir here I interpreted payment credited in bank a.c of supplier means date when we receive the cash/bank ie 12.01.20
latest answer
Generally, date of payment means date when payment is entered in books or credited to bank account whichever is earlier. Since details about credit in bank is not given, this has been done that way.
Krishnan K
CA Inter
★ 5K+
1
405
pay back period
Financial Management
answered on 06-Nov-23 10:49
1) pay back gives too much weight to cash flows that occur after the cut-off date. true or false? with reason
latest answer
false - it considers CF till the time investment is recovered
lohith perumalla
CA Inter
★ 8K+
1
337
COMPANY LAW AND SCMPE CA FINAL
Others
answered on 06-Nov-23 09:18
Hi sir, is COMPANY LAW AND SCMPE CA FINAL not launched on 1 fin for new syllabus, any estimate date for launching
latest answer
We would not be launching these courses for now.
R Yashwanth Kumar
CA Final
★ 87K+
1
377
About inter new syllabus classes for may 24
Others
answered on 06-Nov-23 09:48
Some classes like AS -21, 25,23,and branch accounts LLP act are not available in new course class. When the classes will be uploaded?
latest answer
Thank you sir🙂
Sri kasi lingam chockeswaran
CA Inter
★ 0
2
364
RTP 2022- service costing
Costing
answered on 06-Nov-23 09:32
In this question shouldn't we consider the total cost units(pass.km.) after reducing the normal maintenance so that those costs are also included in the cost p.u. or such a calculation is required only while calculating recovery rates. Kindly explain. Thanks
latest answer
PFA
Aswin Chandar
CA Final
★ 40K+
5
566
Percentage of CRR & SRR
Economics
answered on 05-Nov-23 19:31
Wht is the current rate of CRR, SLR , reverse repo rate ? ( applicable for nov 23 )
latest answer
Please refer RTP Nov 23
kowselyaa G
CA Final
★ 2K+
1
392
Adv acc Banking company
Accountancy
answered on 05-Nov-23 19:25
P & L Nov 19 ques paper Ques 4 a *How come they have computed interest / discount to be 114,85 for the yr 2018- 19?
latest answer
Loss on sale of investment should be deducted from profit on sale of investment or should be shown in operating expenses. Since it was deducted from interest and discount it should be added back.
kowselyaa G
CA Final
★ 2K+
5
371
Appeals & Revisons-Illustration-6
Indirect Taxation
answered on 06-Nov-23 14:02
Pursuant to audit conducted by the tax authorities under section 65 of the CGST Act, 2017, a show cause notice was issued to Home Furnishers, Surat, a registered supplier, alleging that it had wrongly availed the input tax credit without actual receipt of goods for the month of July, 20XX. In the absence of a satisfactory reply from Home Furnishers, Joint Commissioner of Central Tax passed an adjudication order dated 20.08.20XX (received by Home Furnishers on 22.08.20XX) confirming a tax demand of Rs. 50,00,000 and imposing a penalty of equal amount under section 122 of the CGST Act, 2017. 1)Home Furnishers is of the view that there is no requirement of paying predeposit of any kind before filing an appeal with the Appellate Authority. Give your opinion on the issue Here Total Tax Demand:50Lakhs Penalty: equal to amount ie 50Lakhs So Total :1 crore On That 1 crore we have to Pay Pre deposit Right?But Why in e -lecture we considered only 50Lakhs
latest answer
10% pre deposit in only on the tax amount not on the penalty amount.
Surya Prakash
CA Final
★ 19K+
1
391