Answer Posted / h.r. sreepada bhagi
Calculation of Book Stock (Trading Company):
Opening Stock + Purchases - Purchase Returns - Cost of Goods
Sold = Closing Stock.
Calculation of Book Stock (Manufacturing Company):
Opening Stock + Purchases - Purchase Returns - Cost of
Materials used in manufacture = Closing Stock.
For finalisation of accounts & audit at the year end, take
physical stock & value it by applying unit rate to stock
quantity at cost or realisable value whichever is lower.
Generally there will be difference between the book value &
physical stock value & physical stock value arrived as above
should be taken in to P&L A/c & Balance Sheet.
| Is This Answer Correct ? | 33 Yes | 4 No |
Post New Answer View All Answers
IF ONE SUB CONTRACTOR GIVE US BILL OF RS.120000 FOR APRIL,RS.110000 FOR MAY & RS.180000 FOR JUNE WITH LABOUR CHARGES INCLUDING VAT @12.5%.HOW MUCH AMOUNT SHOULD WE DEDUCTED AS A WCT TAX?
Is buy or sale trade will impact on Nov? Yes/No Please explain.
Why Company maintain's books of account?
Please help me with the accounts head for the below ledgers for e.g. for Salary A\c - Indirect Expenses is the account head in tally. what is the account head for below ledgers. Salary A/c Dr. xxx To EPF Payable (employees' contribution only) xx To ESI Payable (employees' contribution only) xx To PT Payable (deducted from employees only) xx To TDS Payable (if deducted from employees' only) xx To Salary Payable (net amount only) xxx Salary A/c Dr. xxx To EPF Payable (employees' contribution only) xx To ESI Payable (employees' contribution only) xx To PT Payable (deducted from employees only) xx To TDS Payable (if deducted from employees' only) xx To Salary Payable (net amount only) xxx Salary Payable A/c Dr. xxx To Cash / Bank A/c xxx
how to pass this entry in tally? Dear Sir, I have just started learning tally . I am practicing tally. and I am following 11th Std book for practicing. Please help me with the following entry. I know dr and cr part but having problem in grouping. Please Help. Introduced goods of Rs 10,000, cash Rs 15,000, furniture Rs 5000, debtors of Rs 1000 and commenced business. What will be the entry and group for each ledger. Please Help.
What is the use of form D in sale tax
hi to all.... what is the treatment for Work-In-Progress in Tally...please answer for it as early as possible... thanks & regards
Pass the journal entry: rent outstanding
what is one way , two way matching , three way , four way matching ?
What is Provision Entry
i had taken one year gap in completing my graduation bcom should it be considered as backlogs i dont have any kt or anything else i have passed all exam in one trial
What steps would you take to locate the errors in case trial balance disagrees?
What are a debit note and credit note with an example?
What is cash flow and fund flow?
Do you know what qualities and skills make an account manager successful?
