Answer / ovenkat4

manufacturing account means taking the manufacturing cost of
the product. and the cost account is the total overall
expenses of the product still selling the product. that is the
difference.

Answer / ovenkat4

Manufacturing account means total manufacturing expenses taking into manufacturing account. And the cost account means total overall expenses from raw material to sell the product all the expenses as undertaking cost account.
The manufacturing account is only for manufacture expenses and the cost account is for all the expenses for making and marketing the product.

Where accumulated Depreciation appears - b/s or p&l. please provide journal entry while accumulating and also while using the fund for purchase of new assets.

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can u tell me what is the process of calculating closing stock?

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A firm had the following Balances on 1 January 1994: (i) Provision for bad and doubtful debts Rs 2,500 (ii) Provision for discounts on debtors Rs 1,200 (iii) Provision for discounts on creditors Rs 1,000 During the year, bad debts amounted to Rs 2,000, discounts allowed were Rs 100 and discounts received were Rs 200. During 1995 bad debts amounting to Rs l,000 were written off while discounts allowed and received were Rs 2,000 and Rs 5,000 respectively. Total debtors on 31 December, 1995 were Rs 48,000 before writing off bad debts, but after allowing discounts. On 31 December, 1995, this amount was Rs 19,000 after writing off the bad debts, but before allowing discounts. Total creditors on these two dates were Rs 20,000 and Rs 25,000 respectively. It is the firm’s policy to maintain a provision of 5% against bad and doubtful debts and 2% for discount on debtors and a provisions of 3% for discount on creditors. Show the accounts relating to provisions on debtors and provisions on creditors for the year 1994 and 1995.

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if current liabity items shown in asset side of balance sheet then whats position of that company

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purchase return liability or asset?should it be included in the balanced sheet?

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Difference between depreciation according to cost principle and matching principle

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if the chq is dishonored which entry will be passed???????? give example entry

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Explain what is double-entry accounting? Explain with an example?

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WHAT IS ENTRY WHEN WE PURCHASE MATERIAL FROM PUNJAB PARTY AND DONE JOB WORK ON THESE MATERIAL FROM HARYANA PARTY. PUNJAB PARTY SEND THIS MATERIAL DIRECTLY TO HARYANA PARTY FOR JOB WORK INSTEAD OF US.AND HARYANA PARTY SEND THIS MATERIAL TO US. MY COMPANY SITUATED IN HARIDWAR. WHICH FORM ISSUE IN THIS TRANSACTION.PLS GUIDE ME.

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What are the following types of accounts falls under in Accountancy? Can you please classify the following whether they are nominal ,real or personal account ? 1)sales tax account 2)Debtors account/Creditors account 3)Bank Overdraft account 4)Bills Payable Account/Bills receivable Account 5)Stationery Account 6)Purchase account 7)Loan Account

2 Answers   Infosys,

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Tell me what is reversing journal entries?

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what is the effect of surplus in p&l account? or what is its significance

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