Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / sandeep
contra entry
entry that is entered on the opposite side of an earlier
entry to cancel its effect on the account balance.
| Is This Answer Correct ? | 0 Yes | 2 No |
Post New Answer View All Answers
How can pass reverse entry to close the account. If the Asset sides is greater then liabilities side and vice versa, then what can I do.
2. A budgeted profit statement of a company working at 75% capacity is provided to you 2 below, Sales 9,000 units at Rs. 32 Rs. 2,88,000 Less: Direct materials Rs. 54,000 Direct wages 72,000 Production overhead: fixed 42,000 variable 18,000 1,86,000 Gross profit 1,02,000 Less: Administration, selling and distribution costs: fixed 36,000 varying with sales volume 27,000 63,000 Net profit 39,000 You are required to: (a) Calculate the breakeven point in units and in value. (b) It has been estimated that: (i) if the selling price per unit were reduced to Rs. 28, the increased demand would utilise 90% of the company's capacity without any additional advertising expenditure, and (ii) to attract sufficient demand to utilise full capacity would require a 15% reduction in the current selling price and a Rs. 5,000 special advertising campaign. You are required to present a statement showing the effect of the two alternatives compared with the original budget and to advise management which of the three possible plans ought to be adopted, i.e., the original budget plan or (i) above or (ii) above. (c) An independent market research study shows that by spending Rs. 15,000 on a special advertising campaign, the company could operate at full capacity and maintain the selling price at Rs. 32 per unit. You are required to: (i) Advise management whether this proposal should be adopted.
Is there a difference between accounting for conversion of bonds and accounting for the conversion of preferred stock?
what is the Differed Tax Liability & How it is calculate ?
What are the differences between contrast bookkeeping and accounting
cash credit taken from bank then what is the general entry?
Tell me in balance sheet, where do you show tds?
Please advise how to calculate net asset....
In the balance sheet, where do you show tds?
How Advances to suppliers for purchase of raw materials is to be considered while calculating Drawing Power
What is the meaning of scrap value in accounting?
what is share application money pending allotment?
How new/innavtive assets are to be treated under IFRS?
pass journal entry for Prepaid insurance
IN VAT INVOICES DISCOUNT ALLOWED OR NOT
