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Can you help me to pass the journal entry for work in progress for a construction company? I would like to know the debit and credit for W.I.P will be under in which accounts head. Eg: debit will be in current asset a/c head, and credit will be under in which a/c in P&L? whether under purchase a/c head, or under direct income a/c head? please give me the details. Thanks for your previous answer?
2282what is profit & Loss Appropriation A/c. why it is prepered? what are its benefit for a company.
3 8106Post New Accounting General Questions
What is vendor?
Dear sir/madam, Want to know entry for closing of sundry creditors account on the end of the year when its accounts shows debit balance, Payment made excess. E.g Invoice rcvd : 100000.00 from XYZ company payment Made: 105000.00 Please suggest best entry for the same
What is partnership accounting?
What is Bank Reconciliation Statement? How to calliculate in tally erp9.0?
how do made in finalization
What was the most difficult deal you had to close?
What is the formula for acid test ratio in accounting?
I purchased a machine and finance it by bank with the amount 1900000 and bank apply the finance charge 440000 for 3 years finance how to pass this entry still machine value is 2200000 is finance charge is interest (indirect exp.) pls help me.
If A Company pays amount thru bank for a supplier deducting tds on behalf of B company. Accounting entries to be made in company A and B
Explain me the difference between accounting and auditing?
Tell me what is trial balance in accounting?
In South Africa , the current rate for value added tax is ?
Unrealised profit will be debited to ?
6. Your grandfather is 75 years old. He has total savings of Rs.80,000. He expects that he live for another 10 years and will like to spend his savings by then. He places his savings into a bank account earning 10 per cent annually. He will draw equal amount each year- the first withdrawal occurring one year from now in such a way that his account balance becomes zero at the end of 10 years. How much will be his annual withdrawal?
Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 10% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Instructions: Prepare the necessary entries for the declaration and payment of the stock dividend.
