Accounting Interview Questions, Answers for Freshers and Experienced asked in various Company Job Interviews

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Accounting Interview Questions

Questions Answers Views Company eMail

What are the accounting entries to be passed for TDS if person who is assessed is a Firm (or) Proprietorship (or) Company (or) person? Eg: I (CDE & Co) paid Rs. 1,00,000/- through ICICI Bank after deducting 10% of the amount (Rs. 10,000/-) as TDS (Tax Deducted as Source) to “ABC & Co” (i would like to know the entry to be posted in "CDE & Co" and "ABC & Co")

1 5248

What is the accounting entry to be posted for TDS if the assess is Firm (or) Company (or) Proprietorship (or) Individual? eg: I (CDE & Co) paid Rs. 1,00,000/- through ICICI Bank after deducting 10% of the amount (Rs. 10,000/-) as TDS (Tax Deducted as Source) to “ABC & Co” (What entry should i pass in "CDE & Co" and "ABC & Co")

1 4346

what is red ink interest

ICAI, NTTF Nettur Technical Training Foundation, Wipro,

1 10666

Hello,Please Tell me about E1 form.

1 4943

1. our co., start from 20.05.10 but at the time to till our capital invested m.d spend Rs:98000 as food,refreshment,rent guesthouse,travelling exp e.t.c., now we want to return to him (i.e) all the expenses (amount will pay may be 17.08.10, how to account it in tally for the expenses of M/D . and payment entry. I need the help

2 4480

1. purchase of tally software is treated as assent or indirect expenses , then underwhich group it comes on tally 2. outstanding expenses is under what group in tally

ABC,

8 57718

WHAT DO WE MEAN BY CURRENT ACCOUNTS SEPARATE FROM SAVINGS ACCOUNTS.

Maruti Suzuki,

5 8327

I had purchased a plot in Nov. 2002 for Rs 18lacs and spent about 20Lacs on its construction. Property is jointly owned by me with my husband in the ratio of 1/3:2/3. I am selling this property for 3cr. How much capital gain I/we have to pay? And can it be set off by purchasing new residential property? If so, can we purchase two separate residential properties, one in my name and one in the name of my husband, which could cover the capital gain amount. Can we do so or it is only purchase of one residential property against which capital gain can be set off. Please clarify.....

2113

i had completed my continious service in ltd co for 4.6years,whether i am eligible for gratuity

1 5671

sir.i jitendra surati have a query.aboutloss settelment. i have loss of capital rs 26000/ and mr friend have loss of rs106000/- as capital. how to compensate the loss by sharing?how many i have to give to my friend ? (A)26000+106000=132000 and i have to give him 66000? or 40000 rs?

1 3378

WHERE I NEED TO FILE CST PAYMENT? Can i file along with vat returns? what is the due date for every month?

Essar,

1 3177

WHAT IS THE LIMIT ABOVE WHICH WE CAN DEDUCT THE TDS ON VARIOUS CATEGORY LIKE PRIFESSION, CONTRACTOR, INTEREST, RENT, SALARY ETC.

2196

How to pass workscontract sale invoice which includes WCT & VAT.

2228

Pass necessary journal entries for the following. 1.Goods supplied by surjit for rs 15000 were entred in sales book.

7 12943

as per partership firm TDS receivable at the end of goes to partners current account, but at the multinational company how pass TDS entry pass, where is it is goes

1 4081

Un-Answered Questions { Accounting }

What is general ledger account?

1105

How to post salary advance transfer from one branch to another branch ?

1532

Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000 Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000 Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000 Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000

1899

Do you know what is double-entry accounting? Explain with an example?

1017

What is fiduciary accounting?

1084

What is the meaning of Receipt & Payment, Income & Expenditure, Profit & Loss A/c? Under What cercumstances these are prepared?

2593

Mobile on Rupees 2000 purchase for office use not for staff....What entry in accounts..?????

1449

Can any One Plz Help Me with TDS Charts & Filling? Plz Send Me All Details to My email Id: satish.0483@gmail.com Plz Its Asked to Me In My Interview Held In Coming 2 Or 3 Days

2012

deffered tax treatment in financial statements

2171

How to make privision in SAP. (Please revert on the possibility of making this happen at PO Stage)

1940

What is absorption costing with defination? and what is marginal costin with defination?

3056

my boss (Managing Partner of a firm) promoted along with his wife a private limited company. he and she spent some Rs. 75,000/- (approx) for the promotion of the company. i know that they usually fall under the head of preliminary expenses. but after receiving the certification of incorporation of the company how shall i repay them to the promoters i.e. what is the accounting entry in the books (initial books of accounts) for the expenditure incurred. they have kept in hand 5,00,000/- each to meet the expenses and they were allotted shares of equal to the amount. can i allot shares for a consideration of cash from and excluding the preliminary expenses. can i take cash towards the share application money (being the cash more than Rs. 20,000/-) as the company has not opened a bank account yet. please give me the detailed answer with journal entries that can be entered in tally. thank you.

1941

7488

the TDS rates and Income rates are equal in calculation of the salary and please send the IT slab rates for the employees and comapnies.

2150

Can anybody send me Interview questions & Answers to me IN Accounts & finance my Mail ID - virupaksha_krt@rediffmail.com

2061

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