PURCHASE AN OFFICE BUILDING FOR RS 1,50,000 IN CASH. THE BUILDING IS VALUED AT RS 1,10,000 AND REMINDER OF THE VALUE IS ASSIGNED TO LAND. WHAT WILL BE THE JOURNAL ENTRY

4 Answers   Chartered Accountant,

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why could the companies conduct interviews, with out recruiting people?

2 Answers  

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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.

0 Answers  

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wahat is the journal entry for cheque paid for collection but not collected?

15 Answers   Infosys,

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is provident fund is liability or indirect expenses for employer???

5 Answers  

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Tell me as a higher position in the accounting department, you will be responsible for overseeing other employees' accounts. What experience do you have in leadership and management that will prepare you for this responsibility?

0 Answers  

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What are the 4 principles of gaap?

0 Answers  

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what is the difference between NEFT and RTGS ?

2 Answers   Banking,

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I want to see company ROC no can you please tell me where it should be mentioned.

1 Answers  

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when we have to use form 12ba in income tax with example

2 Answers   Genpact,

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Meaning of tax invoice

3 Answers   Karbon,

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Tell us in balance sheet, where do you show tds?

0 Answers  

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