what is assesment? who do the assesment by income tax or sale tax,and when doing the assesment?what is the perod limit of assesment? assesment order sent by income tax or sale tax which form?5 3844
which is coming under indirect expenses1 2549
which are coming under direct exp4 3808
why at the top of P/L a/c we write for the year ending and at the top of balance sheet we write as on or year ended.7 9667
My Question regarding owners drawings. case1; If owner paid some expenses from his own pocket and later that amount added to his salary then what adjustment entries will needed.5 3390
hi i m revathi am apply for the muthoot finance now call for me. how i prepared for the exam. please help me..1 4265
What exactly is derivatives segment. can u explain futures and options with examples...1713
what you mean by landed cost?2 4071
legal accounting methods to reduce profit of a partnership firm so as to reduce the tax liability?2146
what are the financial reports to be accompanied with income tax return of a business concern?1 2154
kamal became insolvent.a first and final payment of 60 pasie in a rupee was recived from his official recived.he owner me a debit of amount is RS 500 give the journal entries for this2 22737
please give the sbi bank clerk exam paper model in last five years?
what are the different causes for discrepencybetween the balance of cash book and pass book
What are the Types of invoices batching? & what is 3 way batch?
What is inter-corporate deposits? and where it is shown in balance sheet?
2. You are required to prepare a Profit & Loss Account for the year ending 31st December, 2007 and the Balance Sheet on that date. The Trial Balance of XYZ Ltd. for the year ended 31st December 2007 is as follows:- Trial Balance of XYZ Ltd. as on 31st Dec. 2007 Debit Balances Rs. Credit Balances Rs. Materials used 3,50,000 Sales(including 2% Sales tax) 9,18,000 Cost of Labour 1,50,000 Sale of Scrap 100 Stock, finished and work in process on 31st December, 2006 50,000 Rent received 2,000 Wages : Factory Staff 15,000 Discounts 2,750 Directors Remuneration 50,000 Recovered against fire claim re : Stock 5,000 Salaries : Clerical Staff 75,000 Capital : Equity 25,000 Insurances : Workmen’s Compensation 1,500 Preference- 9% 8,000 General, fire etc. 2,000 Creditors 1,56,000 Directors’ Life Insurance 1,500 Provision for Taxation 1,05,000 Maintenance : Buildings 1,000 Profit & Loss Account 13,750 Plant and Machinery 12,500 Rent and Rates of premises and hire of plant 20,000 Heat, Light and Power 15,000 Experimental and Laboratory Expenses 10,000 Canteen Expenses 5,000 Staff Welfare expenses 2,500 Motor Expenses 12,500 Professional Charges 2,800 Postage and Telephone 3,500 Books, Printing and Stationery 11,000 Sundry expenses 10,000 Carriage and Packing on Sales 3,300 Discounts 5,000 Debtors 1,78,000 Freehold Property 50,000 Plant and Machinery 12,500 Fixtures and Fittings – Offices 3,500 Office machinery and Equipment 3,000 Motor Car and Van 6,500 Stock of materials on 31st Dec. 2007 1,20,000 Bank 38,000 Sales Tax Paid 15,000 12,35,600 12,35,600 Depreciation is to be provided at the following rates: Plant and Machinery 10% Fixture and Fittings 05% Office Machinery, etc. 10% Motor Vans and Cars 25% The stock of finished goods and work in progress as on 31st December, 2007 was Rs. 35,000. Provide for preference dividend and ordinary dividend at 10%. The total taxation liability is estimated at Rs.1,50,000 of which Rs. 75,000 relates to the current year. Debtors include Rs. 10,000 deposited as security against government contracts. The Works Manager is paid partly by salary and partly by a commission; he is entitled to a commission of 5% on the amount by which the surplus in the factory cost exceeds 20% of the sales for the period. Charge the commission if any in the Profit and Loss Account.
What is the value of inventory as per Financial Accounts (AS2) and as per Cost accounts? Someone told me that as per cost accounts only works costs is considered in CARR while for FA, AS2 is followed with cost or NRV whichever is lowewr? Please explain the difference.
I WANT ACCOUNT ASSISTANCE INTERWIEV QUETION IN L&T
when apply for ragistred in central excise no
what is automatic payment in sap fico
How to raise my credit score if I have 500 credit score?
What is revaluation of Accounts, how does it is accounted in business
what is cost audit?
What is a bad credit score?
The Closing stock balance on the cr side of Tarding Proft and Loss A/c due to this our revenue so when we isued the material or used in production then whats happen with closing stock(I think Closing Stock will dr after Isuabce/use materil in Production)if its correct tell me