Answer Posted / sadia
ppe, buildings, land, goodwill, machinery - fixed assets
debtors, stock,cash in hand and bank, outstanding income -
current assets
creditors, shrt term loans, overdraft, outstanding expense,
debenture - liabilities
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
non cash or bank income or expense
What is tds and how it is calculated?
Do you possess any knowledge about accounting standards?
How do you classify errors in accounting?
Define fictitious assets?
Who is considered the father of accounting?
Tell us what is icai?
Is it mandatory for the employees staff of a School, if so give details
are tpt, freight & packing charges part of sales & purchase ??
Which accounting application you prefer most and why?
Is the shadow balance present in bank account always credited or bank may reverse it as well?
what is book building
HI I AM WORKING IN A INTERIOR DESIGNING COMPANY.WE ACTUALLY GET PROJECTS FROM CLIENTS & WE SUBCONTRACT THE WORK WE USUALLY SUBCONTRACTS THE SUPPLY OF LABOUR & SUPPLY OF MATEIALS TO SUBCONTRACTORS.WE DONT HAVE LABOURS OF OUR OWN & ALSO PRODUCTION OF MATERIALS.HOW CAN I TREAT THIS IN TALLY IS THERE ANY OPTION AVAILABLE IN TALLY FOR SUBCONTRACTING OR SHALL I ENTER THE NAME OF SUBCONTRACTORS AS SUNDRY CREDITORS AS WE DO USUALLY IN TALLY.PLEASE DO LET ME KNOW ABOUT THIS 0554125475 IS MY NUMBER
Into which account do we close the revaluation account balance during the winding up of a company?
Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.
