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 Categories >> Accounting >> Accounting AllOther
 
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Question Asked @ Answers Views     Select
what is the opposite journal of account receivables?    0  396
what is the main link between the income statement and the balance sheet?    0  262
what happens to each of the three financial statements when working capital increases?    1  660
what happens to each of the three primary financial statements when gross margin decreases?    0  269
what happens to each of the three primary financial statements when capital expenditures decrease? tcs   0  256
how are the 3 financial statements related to each other?    1  2914
you buy a $100 asset. $25 cash, $50 debt, and $25 new equity. Explain how the 3 financial statements (IS, BS, CFS) will change. kpmg   0  501
what is meant by debit and credit ibm   19  8822
what is budgetory control and what are the types    0  511
what are valuation accounts? niit   0  204
what is internal audit    0  228
2. You are required to prepare a Profit & Loss Account for the year ending 31st December, 2007 and the Balance Sheet on that date. The Trial Balance of XYZ Ltd. for the year ended 31st December 2007 is as follows:- Trial Balance of XYZ Ltd. as on 31st Dec. 2007 Debit Balances Rs. Credit Balances Rs. Materials used 3,50,000 Sales(including 2% Sales tax) 9,18,000 Cost of Labour 1,50,000 Sale of Scrap 100 Stock, finished and work in process on 31st December, 2006 50,000 Rent received 2,000 Wages : Factory Staff 15,000 Discounts 2,750 Directors Remuneration 50,000 Recovered against fire claim re : Stock 5,000 Salaries : Clerical Staff 75,000 Capital : Equity 25,000 Insurances : Workmen’s Compensation 1,500 Preference- 9% 8,000 General, fire etc. 2,000 Creditors 1,56,000 Directors’ Life Insurance 1,500 Provision for Taxation 1,05,000 Maintenance : Buildings 1,000 Profit & Loss Account 13,750 Plant and Machinery 12,500 Rent and Rates of premises and hire of plant 20,000 Heat, Light and Power 15,000 Experimental and Laboratory Expenses 10,000 Canteen Expenses 5,000 Staff Welfare expenses 2,500 Motor Expenses 12,500 Professional Charges 2,800 Postage and Telephone 3,500 Books, Printing and Stationery 11,000 Sundry expenses 10,000 Carriage and Packing on Sales 3,300 Discounts 5,000 Debtors 1,78,000 Freehold Property 50,000 Plant and Machinery 12,500 Fixtures and Fittings – Offices 3,500 Office machinery and Equipment 3,000 Motor Car and Van 6,500 Stock of materials on 31st Dec. 2007 1,20,000 Bank 38,000 Sales Tax Paid 15,000 12,35,600 12,35,600 Depreciation is to be provided at the following rates: Plant and Machinery 10% Fixture and Fittings 05% Office Machinery, etc. 10% Motor Vans and Cars 25% The stock of finished goods and work in progress as on 31st December, 2007 was Rs. 35,000. Provide for preference dividend and ordinary dividend at 10%. The total taxation liability is estimated at Rs.1,50,000 of which Rs. 75,000 relates to the current year. Debtors include Rs. 10,000 deposited as security against government contracts. The Works Manager is paid partly by salary and partly by a commission; he is entitled to a commission of 5% on the amount by which the surplus in the factory cost exceeds 20% of the sales for the period. Charge the commission if any in the Profit and Loss Account. ignou   0  384
3. You are required to show the effect of each of the following changes on profit and Break-Even-Volume from the information given below: Sales 50,000 units Rs. 5.00 per unit Variable cost Rs. 3.00 per unit Fixed cost Rs. 70,000 Changes: (i) Price changes by 20%. (ii) Volume decreases to 40,000 units. (iii) Variable cost increases to Rs 3.50 per unit. (iv) Fixed cost decreases by 10%. ignou   0  234
From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored. ignou   0  1102
As a Finance Manager what is your role in matters of dividend policy. What will be the alternatives and factors that you may consider before finalizing your dividend policy?    1  808
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Un-Answered Questions
 
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what is Derivative Documentation,Derivative Settlements,Derivative confirmation? 409
give me only one transactions in both side (debit&credit) should be in real accounts 176
what is purchase consideration? How does it come about and how is it treated in the books? 381
Interest earned on investments is an__________ 139
What is SOX 173
Difference between cash and merchantile system? 226
How can we calculate the total income of the company. 159
Short Answer on _________________City Compensatory allowance 121
after payment of interest of a loan account by using credit note voucher in tally 9........don't anyone thinks that we have to adjust the cash account by passing cr entry on journal for interest payment... 179
what is sales life cycle??? 130
please give the sbi bank clerk exam paper model in last five years? 262
Tell me the steps for Import and Export Thanks 147
how to prepare mba finance for interview questions 239
Give me total Details of payroll calculation, payslip with examples. 657
How Many Types of Excise Duties? 138
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