:: Home Page            
 Advertise your Business Here     
Browse  |   Placement Papers  |   Company  |   Code Snippets  |   Certifications  |   Visa Questions
Post Question  |   Post Answer  |   My Panel  |   Search  |   Articles  |   Topics  |   ERRORS new
   Refer this Site  Refer This Site to Your Friends  Site Map  Bookmark this Site  Set it as your HomePage  Contact Us     Login  |  Sign Up                      
Categories >> Accounting >> Accounting General


 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1906)
 Accounting General interview questions  Accounting General Interview Questions (2834)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4371)
I need to know when you buy a asset on credit and your 
monthly instalment is $10000 in the books where and how do 
you record the outstanding liability the interest and the 
capital instalments.Secondly the deposit that you receive 
which you should still send back to the tenat where in the 
books do you record for entry and the contra entry.
 Question Submitted By :: Accounting-General
I also faced this Question!!     Answer Posted By  
# 1
When an asset is bought on hire purchase or installment and
it becomes the asset of the buying enterprise, Debit the
asset A/c and Credit the Supplier's (Creditor) A/c. Whenever
installment is paid, Debit the principal portion to
Supplier's A/c and interest portion to Interest Charges A/c
or any other a/c suitably named under the head Finance
Expenses or Financial Charges.

From the 2nd part I assume that you want to know how the
Security Deposit received from the tenant needs to be
accounted in the books of the landlord.

On receipt of deposit money, Credit Security Deposit
Received A/c (Under Current Liabilities & Provisions head)
and Debit Bank/Cash A/c.
When the money is refunded on termination of the lease, pass
reverse entry.
Is This Answer Correct ?    1 Yes 0 No
H.r. Sreepada Bhagi

Other Accounting General Interview Questions
  Question Asked @ Answers
what is accural ledger HSBC 3
wat is auto accounting Meru-Cabs 1
what are hedge funds Genpact 1
What is the nature of bank account: a) nominal b) real c) personal IBM 21
when we debit any party in our account? Syntel 7
what is the reason for finding break even point ACS 2
What is the Major Difference between Revised Schedule VI and Old Schedule VI ? DMRC 1
what are GAAP items and examples of such?   2
How to make entries in Talley for the advance of Rs. 5 lacks is given from the Project A to B to be returned after some months   1
What is Tax Audit ? Please Explain.   1
Explain Sundry Debtors and Sundry Creditors.   3
For more Accounting General Interview Questions Click Here 

Copyright Policy  |  Terms of Service  |  Articles  |  Site Map  |  RSS Site Map  |  Contact Us
Copyright 2013  All Rights Reserved.   ::