Accounting Interview Questions
Questions Answers Views Company eMail

What is the meaning of contra entry

3 4424

State why you feel you are suitable candidate for the post applied


1 1855

if not found suitable for the post applied for, are you willing to be considered for a lower post yes / no ? why?


what is rate of vat in raj.

2 1274

how to modify 12% to 13.5% in tallyerp9 release 1.6



We may get profit or loss from business. If so we can name the statement as Profit or Loss account. But since a long time we are naming it as Profit and Loss account. Why?

1 960

What do you mean by Debit and Credit?

5 5186

What is GAAP ?

Capital IQ,

7 6166

Gross Profit Margin ?

Capital IQ,

3 6443

Please tell me jurnal entries for input vat and output vat?

1 2061

what is the main defference between cash flow and funds flow

Chartered Accountant,

2 3549

what are the main tools of auditing?

Fidelity, Axis Inspection Solutions, Sri Padma Balaji,


what difference b/w capital structure and financial structure?

1 1719

How shall I calculate the true profit of my business, as I am a layman for accounting.


what do you mean by bank reconocilition statement

2 1844

Un-Answered Questions { Accounting }

How To Calculate Gross Sales for vat return -15


What is PE ratio formula ?


What are the Types of invoices batching? & what is 3 way batch?


what is t code of gr/ir report?


hi ,i need some suggestion,comptd my graduation in 2012,but i wasted my time for 6 month,just i want 2 escape from this question,what u did for 6 months,how can i give proper anser to them?pls suggest me


"Closed Period" method. our current company method of accounting is called the "OPEN PERIOD". It's time we'd like to use the "CLOSED PERIOD". What is the standard timing and detailed procedure for closed period most of the company have been used. Please advise. thanks.


if you are a hard working nature conclude your self?


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.


what is gl a/c? & why is it maintain


Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 10% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Instructions: Prepare the necessary entries for the declaration and payment of the stock dividend.




what is full rate fo tax for non submission of C forms


Why in a cash book receipts are debited while the same if received in our books recepits are credited. Why does cash book have a rule to debit receipts and credit payments. For example if am paying the cash that i owe the company or firm i debit in my books(cash) on the debit side and should credit in the cash book but i cant do that cash book take receipts on the debit side as per the general . please clarify many thanx in advance


service tax form no ? What is CC Limit ? What is branch accounts?