"Closed Period" method. our current company method of accounting is called the "OPEN PERIOD". It's time we'd like to use the "CLOSED PERIOD". What is the standard timing and detailed procedure for closed period most of the company have been used. Please advise. thanks.
1614What is the Journal entry of the Transaction -- The Horse bought on April 20 died , its carcase was sold for rs.50. also tell me what is treatment in P/L A/c and Balance Sheet.
4 20397We may get profit or loss from business. If so we can name the statement as Profit or Loss account. But since a long time we are naming it as Profit and Loss account. Why?
1 2573Post New Accounting General Questions
Explain accounting 101?
The Tabula Manufacturing Company has been in business for one month. At the end of month the company had the following accounts: Materials used K 5 000.00 Direct labour 10 000.00 Indirect labour 3 000.00 Indirect materials 2 000.00 Labour fringe benefits 1 000.00 Supervisor’s salary 1 000.00 Depreciation Machinery 2 000.00 Miscellaneous factory overhead 1 000.00 Heat and light 500.00 Insurance on plant 1 500.00 The company processed two jobs during the month with costs as follows: Job 101 Job 102 Materials cost K3 000.00 K2 000.00 Direct labour cost K6 000.00 K4 000.00 Direct labour hours 4 000.00 3 000.00 Machine hours 2 000.00 1 000.00 The company does not use a predetermined rate for factory overhead. The rate is computed at the end of each month. Required Use both the direct labour hours and machine hours to compute: 1) The overhead rates for the month (5 pts) 2) The overhead cost for each job (5pts) 3) The total cost for each job (10 pts) 4) Briefly describe the difference between Job order and process costing, citing relevant examples (5 pts).
Tell me whether the account “cash” will be credited or debited, when a company pays a bill?
If we started new project of Housing with Construction linked payment plan . How can booked our revenue or Sales .
Please advise how to calculate net asset....
Mention in simple terms what is the difference between asset, equity, and liabilities?
what is payment written
Mention whether the account "cash" will be credited or debited when a company pays a bill?
What will be the entry when deduct ESI @1.75% from the employees salary?Same as in the time of ESI of employer part @4.75% in tally posting? In PF posting in tally what will be the entry ?
Are there any questions you would like to ask?
What are accounting entities?
What is accounting normalization?
What is accounting chart of accounts?
How to Automate requirment mapping in QC?
What was your most complicated sales cycle in past positions?
