Edu for All : CA CMA R.Kumar📚

CMA Inter (December 2024) - A company deals in 3 products X, Y and Z which are neither similar nor interchangeable. At the time of closing of its Accounts for the year 2023-24, historical cost and net realisable values of the items of closing stock are determined as below:
Items Historical Value (₹) Net Realisable Value (₹)
X 20 14
Y 16 16
Z 8 12
What will be the value of closing stock?

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1 day ago | [YT] | 0

Edu for All : CA CMA R.Kumar📚

CMA Inter (December 2024) - Cost of Machinery is ₹60,000. Useful life of the asset is 5 years. Annual Depreciation on Machine under Straight Line Method is ₹10,000. The scrap value of the Machine will be

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3 days ago | [YT] | 0

Edu for All : CA CMA R.Kumar📚

CMA Inter (December 2024) - Provision for doubtful debt on 1st April 2023 was ₹14,000. During the year 2023-24, the Bad Debts was ₹9,500. The Sundry Debtors on 31st March 2024 were ₹3,25,000. Provision is to be made@ 5% on debtors. If on 31st March 2024, there was additional bad debts of ₹2,500, then provision for doubtful debts will be

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5 days ago | [YT] | 0

Edu for All : CA CMA R.Kumar📚

CMA Inter (December 2024) - Depreciation charged to Income Statement ₹8,00,000, Depreciation u/s 32 of the Income Tax Act ₹20,00,000; unamortised Preliminary Expenditure as per Income Tax records ₹1,50,000; Corporate Tax rate is 40%. In this situation, the amount of deferred tax asset / liabilities to be created _____________·
It is assumed that there is adequate evidence of future profits sufficiency.

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1 week ago | [YT] | 1

Edu for All : CA CMA R.Kumar📚

CMA Inter (December 2024) - A firm had a capital balance of ₹1,00,000 at the beginning of a year. At the end of the year, the firm has total assets of ₹1,50,000 and total liabilities of ₹70,000. If the total withdrawals during the period is ₹30,000, what was the amount of net profit/ net loss for the year?

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1 week ago | [YT] | 0

Edu for All : CA CMA R.Kumar📚

CMA Inter (December 2024) - X draws a bill on Y for ₹1,80,000 for mutual accommodation in the ratio of 2:1. X got it discounted for ₹1,69,200 and remitted 1/3rd of the proceeds to Y. How much money should be remitted by X to Y at the time of maturity so as to enable Y to honour the bill?

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1 week ago | [YT] | 0

Edu for All : CA CMA R.Kumar📚

CMA Inter (December 2024) - "Which of the following is true about financial statements?
(a) Financial Statements give a summary of Accounts.
(b) Financial Statements can be stated as recorded facts."

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1 week ago | [YT] | 0

Edu for All : CA CMA R.Kumar📚

CMA Inter (December 2024) - Which of the following errors/omissions are not part of the Bank reconciliation process?

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2 weeks ago | [YT] | 1

Edu for All : CA CMA R.Kumar📚

CMA Inter (December 2024) - A Company is a going concern if
A - its Balance Sheet shows a strong Financial Position.
B - its Income Statement for the current year shows huge Profit.
C - there is no evidence that it will or will have to cease operations within foreseeable future.
D - its a Public Limited company.


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2 weeks ago | [YT] | 0

Edu for All : CA CMA R.Kumar📚

CMA Inter (June 2025) - Mr. Ranabir is admitted into partnership for ¼ share of profit. The total capital of the old partners stood at ₹45,000 after adjustments of goodwill, revaluation of fixed assets and liabilities and transfer of reserves.
What amount should be brought in by the new partner as his share of capital at the time of admission?
If Mr. Ranabir brings ₹20,000 as capital for ¼ share of profits and the partners decide to adjust their capital in accordance with their profit-sharing ratio, what should be the total capital of the firm?

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2 weeks ago | [YT] | 0