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What are the method of accounting?
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Answer / suresh raichur
There are two methods of accounting namely:
1. Accural Basis of accounting
2. Cash Basis
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / subramanyam
1.Finanacial accounting
2.Management accounting
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / kali prasad dalai
cash basis, accrual basis, highbrid basis
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / swathi
1.financial accounting
2.management accounting
3.cost accounting
4.human resource accounting
5.in action accounting
6.responsibility accounting
| Is This Answer Correct ? | 0 Yes | 5 No |
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From the following Trial Balance of Seema Garments as on 31st Dec., 2007, prepare Trading Profit and Loss Account and Balance Sheet: Dr. Rs. Cr. Rs. Opening Stock 15000 Purchases and Sales 109000 180000 Manufacturing Wages 8000 Fuel, Power and Lighting 12000 Salaries 11000 Income Tax 5500 Loan to Mr. X at 10% pa. 5000 Interest on Mr. X’s Loan 300 Apprentice Premium 4500 Rent 4000 Rent Owing 600 Furniture (includes furniture of Rs.1000 purchased on 1st July, 2007) 5000 B/R and B/P 6000 1600 Plant 72000 Debtors and Creditors 28000 13000 Capital 100000 Cash 19500 300000 300000 Informations: 1. Closing Stock was valued at Rs. 30,000. 2. Goodsworth Rs. 5000 was sold on 28th December, but no entry was passed to this effect. 3. Goods costing Rs. 7000 was purchased and included into Stock but no entry was passed to record the purchases. 4. Create a provision of 2% for discount on debtors. 5. Apprentice premium received on 1st January, 2007 was for 3 years. 6. Depreciate the furniture by 10% p.a. 7. Salaries for the month of December, 2007 are still outstanding.
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