What is journal entry for salary paid less deductions (e.g. fines for breaking a company's property)?
576How to pass journal entry for payment of 20 % of outstanding income tax demand of AY 14- 15 of an company in the AY 18-19.
672What is Normal Loss? and What is the reason for Debiting such Loss in P&L account and also Crediting in Trading Account? and how the Loss should be accounted?
595You are using the accounts approach to parallel valuation and classic assets accounting. You need to create a new financial statement version to valuation based of IFRS principles. In asset accounting, what posting options can you choose for the new depreciation area? (any 2 answer) Area post in real time Area posts APC directly and depreciation periodically Area posts APC only directly Area posts APC and depreciation periodically
IBM,
438if a sole proprietor pays his firms insurance policy , How it should treated in books of accounts? whether it should be treated as investment? or indirect expenses?or drawings?
506Post New Accounting General Questions
Which accounting applications are your familiar with?
How can I put Bank Guarantee Receipt entry in Tally ERP9?
Discuss the consistency concept in accounting
goods worth rupees 440 distributes free among the poor?
1. how to pass TDS entry in tally 2. how to pass service tax entry in tally 3. how to pass depreciation entry in tally 4. what is percentage in TDS and service tax
What is the formula for acid test ratio in accounting?
Ours 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?
What is the fictitious assets?
Is the shadow balance present in bank account always credited or bank may reverse it as well?
Tell me entries to revenues accounts such as service revenues are usually?
what is current rate of excies duty for a manufacturing company?
Accounting Questions
A firm had the following Balances on 1 January 1994: (i) Provision for bad and doubtful debts Rs 2,500 (ii) Provision for discounts on debtors Rs 1,200 (iii) Provision for discounts on creditors Rs 1,000 During the year, bad debts amounted to Rs 2,000, discounts allowed were Rs 100 and discounts received were Rs 200. During 1995 bad debts amounting to Rs l,000 were written off while discounts allowed and received were Rs 2,000 and Rs 5,000 respectively. Total debtors on 31 December, 1995 were Rs 48,000 before writing off bad debts, but after allowing discounts. On 31 December, 1995, this amount was Rs 19,000 after writing off the bad debts, but before allowing discounts. Total creditors on these two dates were Rs 20,000 and Rs 25,000 respectively. It is the firm’s policy to maintain a provision of 5% against bad and doubtful debts and 2% for discount on debtors and a provisions of 3% for discount on creditors. Show the accounts relating to provisions on debtors and provisions on creditors for the year 1994 and 1995.
Explain me the term material facts in accounting?
what is ment by suspence account and dummy account
