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we are a trading company providing devices and some times after sales service. when any defect came we just replace the hardware from another defective device and getting the payment from the customer. how can we account that? is there any tax implications for this?
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1 3701Ram supplied to kumar machinery worth rs 2000 in exchange for furniture worth rs 1000, goods for rs800 and cash rs 200. show how this would appears in Ram account ?
1 3217Contra asset accounts have credit balance and are an offset to a related asset account ? true or false .
3 5470what are the charecteristics of cost accounting financial accounting managment accounting payroll accounting environmental accounting h r accounting forensic accounting inflation accounting?
1930What is the Corporate Tax, Minimum Alternate Tax, Professional Tax, Business Tax Describe Me
TATA,
2282what will be the journal entry-discount rs 2000 allowed to mr x.and discount received rs 2000 from mr x.actually i am confused that in the first entry both discount a/c and mr x a/c will be credited as per the accounting standards.please help experts.thanks
4 5711Post New Accounting General Questions
What is corporate assesses?
Explain what is liabilities and what all does include in current liabilities?
Why did you choose the a-levels you did?
Do you know partitioning in accounting?
What do you mean by material facts in accounting?
What is the distinction between cost accounting and management accounting?
How to get C forms in online? Plz give me Processor Thanq
What does the standard journal entry includes?
Tell us what do you believe should be an important quality of an account executive?
What do we mean by purchase return in accounting?
The following information is extracted from the audited books of accounts of a chain of food stores for the period ended 31st December 2015. Revenue Statement (Trading and Profit and Loss Account for the year ended 31st December 2015. BWP’000 BWP’000 Sales 460 Cost of good sold (220) Gross profit 240 Wages 50 Other expenses 30 (80) Net Profit 160 Note: The purchase figure included in the cost of goods sold of P255 000. Balance Sheet as at 31st December 2015 BWP’000 BWP’000 Fixed Assets 400 Current assets: Stock 80 Debtors (trade) 120 Bank 400 ----- [600] Current liabilities: Trade creditors 300 ------ [300] 300 Net Assets 700 ==== Financed by: Share capital 600 Revenue reserves 100 ------ 700 Shareholders Funds 700 ===== Required: (a) Calculate the following accounting ratios: (i) Current ratio (ii) Acid test ratio (iii) Stock turnover (in days) (iv) Debtors turnover (in days) (v) Creditors turnover (in days) (vi) Return on capital employed (ROCE) (vii) Gross profit percentage (viii) Net profit percentage (b). Give a brief comment on the performance of the company, based on the above ratios.
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Discuss the consistency concept in accounting
A motor car purchased on 1 apr 10 worth rs 10000 taking a loan from bank of rs 8000. Emi will b 500 pm inclusive of interest rs 100 pm.all repayments are done by bank overdraft. Prepase bshEet & P&L as at 31 mar 10
Cheque rs 1400 received from Charles in settlement of a debit of rs 1500 returned dishonored
