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Accounting General Interview Questions

1.an Asset costs \$ 10,000 and has a net book value of \$ 100, and an estimated life of ten (10) years, what would be the annual depreciation using the straight line method?

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1.A Company with a net income of \$ 7,650 in a year and has 3,000 outstanding shares. Calculate the Earning per Share (EPS).

IBM,

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4. Operating Assets: \$ 100,000 Operating Income: \$ 18,000 What would be the rate of Return on Investment (ROI)?

2521

5. What would be the pay-back period of a project requiring initial investment of \$10,000/- and expected to generate a cash flow of \$ 2,000/- per year?

2494

6. What is the amount of Simple Interest on \$ 1,500 for 90 days at 6% interest (year is 360 days)?

1394

7. Calculate the Selling Price: Cost is \$ 30. Markup is 30% * Markup is based on cost * Markup is based on selling price

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8. What is the difference between: a. Direct Costing Method and Absorption Method. b. Fixed Cost and Variable Cost.

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9. Fixed Cost assumed to be \$ 2,700. Variable Cost is \$ 70 per unit. Selling Price is \$ 100 per unit. What would be the Breakeven Point in Units?

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Journalize the Following: 1. The following were purchased on account: a. Materials \$ 10,000 b. Office supplies \$ 2,000 c. Small tools \$ 1,000

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Journalize the Following: 2. Monthly credit sales were \$ 35,000 3. Received Cash receipt payments on Receivables in the amount of \$ 10,000. 4. Customers’ cheque in the amount of \$ 100 bounces and was re-deposited. Book both entries. 5. Material is bought on account for £ 100,000. The exchange rate is Four pounds to One Dollar. Then, later, merchandize is paid for. The exchange rate is Five pounds to One Dollar. Book both entries in Dollar when merchandize is bought and when it was paid. 6. Materials worth \$ 20,000 was purchased on account and paid for with 1% discount. Book both entries. 7. Record the purchase of Direct Material on Account in the amount of \$ 20,000. Half of it was for stock and the other half for a specific job order. 8. Record the disbursement of \$ 1,000 raw material to shop floor for use on specific job

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1. The following data is available. Determine the Break Even point in Sales: Sales : \$1,800,000/- Fixed Expenses : \$ 375,000/- Variable Expenses : \$ 1,200,000/-

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2. Cash Break Even: SIPW Company sell windows. Windows are sold for \$ 25/- each. Variable cost is \$ 15/- per door and total Fixed Operating Costs are \$ 50,000 /- which includes depreciation in the amount of \$ 2,000/-. How many units of windows the company has to sell for Cash Break Even?

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3. Cash Flow from Operation: Assume a company with an Income Statement showing: Net Income …. \$ 180,000/- Depreciation …. \$ 80,000/- Amortization … \$ 60,000/- Deferred Income … \$ 40,000/- What would be the: a) Cash Flow from operation b) Ratio of Cash Flow

1211

Can a firm claim preliminary expenses incurred(manufacturing) or only its is applicable to Companies? can a firm claim ,1/5 of such expenses incurred as deduction as in case of Companies? or any other procedure.

1600

what is the limit of cash payment in a manufacturing firm and job work related work and how much we paid to the job worker cash payment in financial year Aslam

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Un-Answered Questions { Accounting General }

I TRANSFERRED A STOCK OF RS. 100.00 FROM HEAD OFFICE DELHI TO MFG. UNIT OFFICE AT HARYANA AGST FORM F.AT BRANCH GOODS ARE PROCESSED AND ADDED VALUE OF RS. 80.00 AND TRNF BACK TO DELHI HEAD OFFICE FOR RS. 180.00 AGST FORM F FROM HARYANA . AND HEAD OFFICE SOLD THIS TO PARTY AT RS. 200.00 . I WANT TO KNOW HOW TO MAKE ACCOUNTING ENTRIES IN BOTH BOOKS HEAD OFFICE AND BRANCH OFFICE. TO SETTEL ACCOUNT AND TO CONSOLIDATE THE BOOKS AT THE END OF YEAR.

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How do I charge bank charges on payments to clients

1423

What is normative accounting?

437

Tell About ur self what will i say plz help me

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Why you want to change???

1523

what is the head for stock trnasfer

1451

How to pass VAT retention entry on computer and Furniture

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Mention the types of accounts involved in double entry book-keeping?

438

WHEN WILL SBI DECLARE THE RESULTS OF INTERVIEWS OF CLERICAL CADRE HELD IN APRIL-MAY 2010?

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What do you mean by Bill of Exchnage.How to manage ? Explain

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we have registered to MCCIA(Maratta Chember of Commerce Ind & Agri.).They given a Tax Invoice against this registration with charging service tax@10.3%.can we take credit of this service charge ?

1458

Tell me how can you define departmental accounting?

385

can any body tell me the procedure to learn accountancy with easy tips.i.e., layman accounting policy and rules of debit and credit.

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How is the accounting for hire purchase transactions done?

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how to treat investment fluctuation fund in case of death of a partner

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