Prepare a trading account, profit and loss Account and Balance sheet form the following trail balance and other adjustments as on 31.12.2009 Adjustments: 1. Closing stock R 7060 2. Allow interest on capital at 6% p.a 3. Insurance prepaid Rs 60 4. Depreciate Building and furniture at 10% p.a. 5. Wages due Rs 40 6. Provide 10% RBD and 5% on debtors and creditors 4. From
1970From the following find out a. Profit Volume ratio b. Break even point c. Sales for 40% P/V Ratio d. Margin of safety from the sales Rs 3,00,000 e. Net profit from the sales of Rs 3,00,000 f. Required sales for the new profit of Rs 70,000 g. Required sales for the net profit of Rs 70,,000 after tax, the corporate income tax being 40% h. Additional sales required to convert an increase of Rs 3000 p.a. in the sales manager salary Sale 2,00,000 Variable Overheads 1,50,000 Profit 50000 Fixed overheads 15000 Net profit 35000 Sl No Heads of Account Debit Rs Credit Rs 1 Drawing and Capital 750 15,000 2 Stock as on 01.01.2009 69720 3 Bills Receivable and bills payable 1000 1180 4 Returns 300 320 5 Purchases and Sales 4500 8300 6 Wages 70 7 Discount 30 8 Salaries 200 9 Canara Bank Shares 3000 10 Insurance 120 11 Building 3000 12 Furniture 700 13 Debtors and Creditors 600 1300 14 Cash in Hand 470 15 Overdraft at bank 900
1636WHAT IS BANK RECONCILIATION STATEMENT? DIFFERENCE BET PUBLIC COMPANY AND PRIVATE COMPANY? MEMBERS IN PUBLIC CO AND PRIVATE COMPANY? WHAT IS DEPRECIATION?
IBM,
1742how to prepare the balance sheet of private ltd. company & what roll should be play by Income tax, compnay law & accounting standard in India & world.
1500I want to become CFA so kindly provide me all information regarding this like fees structure,colleges in mumbai,duration etc.
1300Post New Accounting AllOther Questions
what about case study
helo sir, i want to know the writen exam pattern for finance and accounts ang general apptitude test of ongc.
Questions asked for the post of Manager (Finance) in a Public Sector company Subject of group discussions for the post of Manager (Finance) in a Public Sector company
Short Answer on _________Commerce
what is capital market and money market? what is primary market and secondary market?
How can we calculate the total income of the company.
hi to all i have also cleared sbi exam and my interview is on 26th may 2009.can any one help to prepare for interview
What is the difference between horizontal balence sheet & vertical balence sheet explain in detail.
We are running an educational institution in Karnataka,India. Is there any ceiling stating that if gross salary is upto this then only incentive or bonus can be paid?
Whether setting up of diary plants comes under CMA under Farm Sector or Non Farm Sector
What is the difference between payable and accrual
can we get all interview questions with answers in tally 9 which mostly asked in MNC's.
What is T+2 rolli g settlement cycle?
What are Corporate Action?
please answer this question.the following balances were extracted from the books of modern traders on 31st dec,2010.capital(85000)fixed assets(45000)stock1-1-2010(15000)sundry debtors(20600)productive exp(3300)reserves fund(6600)discount received(800)cash in hand(6200)drawing(5000)accomulated dep.(9000)purchases(82000)bad debts(400)unproductive exp.(27400)sundry creditors(9000)sales(120000)cash at bank(25500).adjustments.stock on 31-12-2010(15000).outstanding wages (5000) write-off (600)of further bad debts. create provision for bad & doubtful debts at {5%) on debtors.unproductive expenses includes anitem of prepaid insurance (100).provide depreciation on original cost of fixed assets @ (10%).
