Answer / atul pandey

The journal Entry of Sales transaction of vat is

Party A/c DR...
To Vat A/c
To Sales A/c

For E.g suppose A company X made a sale of 10000 to Company
z and there is a amount of Vat 5 percent in it. so the
entry made in X A/c is

Z A/c DR......... 10000

To Vat A/c .........477
To Sales A/c .......9523

I got a transaction of Online Recruitment Charges, So What is the Ledger to Create?

1 Answers  

---

whats the manufacturing account

1 Answers   IOCL,

---

2. Cash Break Even: SIPW Company sell windows. Windows are sold for $ 25/- each. Variable cost is $ 15/- per door and total Fixed Operating Costs are $ 50,000 /- which includes depreciation in the amount of $ 2,000/-. How many units of windows the company has to sell for Cash Break Even?

2 Answers  

---

If i pay for general expense (and party provide me gst details) through credit card then how i can enter party details

0 Answers  

---

what is ctt

3 Answers   Bank Of India,

---

---

GOVERMENT COMPANY FOLLOWS WHICH TYPE OF ACCOUTING SYSTEM

2 Answers  

---

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.

2 Answers   Ignou,

---

the client has running his business in a rental building and he built new room in same place with own money. can we use the expenses of new room in profit and loss a/c

1 Answers  

---

Can we consider capital work in progress as a part of fixed assets?

2 Answers  

---

How to explain salary outstanding as per traditional approach?

1 Answers  

---

Tell me the meaning of long-term notes payable is or long term liabilities?

0 Answers  

---

what is the difference between cash flow statement and fund flow statement..

4 Answers   Deloitte,

---