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A and B are partners sharing profits and losses in the ratio of 3:2 having the capital of Rs. 80,000 and Rs. 50,000 respectively. They are entitled to 9% p.a. interest on capital before distributing the profits. During the year firm earned Rs. 7,800 after allowing interest on capital. Profits apportioned among A and B is (a) 4,680 and 3,120. (b) 4,800 and 3,000. (c) 5,000 and 2,800. (d) None of the above.
1 6787If any co. purchase goods from abc co. payment will made in advance. Can abc co. is creditor or not. Pls. answer.
1 3910I have two godown in Delhi.i want transfer of goods from one to another what documents are required
1 3816Ours is a technology firm. We got a contract of 1 lac. It is payable at the end of the contract. How you will recognize revenue?
1856under which head should be the p & l appropriation a/c should be opened in tally 9? and how to preapare and display it?
2023if at the end of the year cash book is showing debit balance whether it is meant that cash is not deposited after deducting expenses in bank and it is in hand and we should deposit in next year
1875Post New Accounting General Questions
Q1©. Gratuity of Rs. 1,20,000 is received in August, 2007 by Mr. M, a legal heir of Mr. R aged 45 years who died on June 28, 2007. Is it taxable?
why we multiply no. of purchasing year with average profit
What is accrual accounting?
What does the word credit mean in terms of accounting?
The following transactions relating to ABC Ltd for the month of 20x1 a) Services performed in relation to income recieved in advance total $1500 b)Supplies expense includes $400 of supplies that are still on hand at 30 June c)Interest accrued on the bank loan is 750 d)At the end of june paid rent for 3 months (June, july Aug) $6000 e)Credit sales for the month of June 2009 amounted to $50000. Past expierence shows that around 1.5% of net credit sales are written off as bad debts. XYZ ltd, previously notified ABC ltd that they have gone bankrupt, will be able to pay $1000, which was recieved at the end of the month. The provision of doubtful debt has an opening balance of $800. f) The owners of ABC Ltd wish to revise the balance of the provision of doubtful debts account to $3500. g) Depreciation of one year on the delivary van is $1500. h) On 30 June 2009, ABC Ltd sold an item of equipment for $40000 cash. The cost of equipment was $50000 and had a accumulated depreciation balance of $2000 REQUIRED: Prepare the relevant adjusting journal entries for the month of June 20x2
what is balance sheet, capital budgeting, financial statements, current ratio, profit maximization?
What is compound journal entry?
One Institute, after completion of course not issue any certificate to students, they issued certificate from other branded institute with cost (Kindly provide the term of this expenditure to appear in P&L a/c)
1.recivable and payble 2.pf,tds,esi
what is the process of cenvat credit taken in service tax( in direct & indirect service)
What is the entry for provision?
What is the provision?
What is WCT ? Who will Resposible for deposit WCT Means TDS Deductor or Material supplier. Is TDs applicable on WCT. Who will responsible for deposit WCT. I Am New For this Field. Thanks in advance...
What are mis reports?
adjustment entry showing in tally such as outstanding salary prepaid salary etc.
