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Accounting Interview Questions
Questions Answers Views Company eMail

Name the Accounting Concepts

Deloitte,

1 2182

Assets are held in the Business for the purpose of____________________

1 2295

Revenue from sale of products is generally realized in the period in which 1.Cash is collected 2.When sale is made

3 12445

Decrease in the amount of Creditors result in 1.Increase in Cash 2.Decrease in Cash

Infosys, SET Exam,

6 30341

Decrease in the amount of Debtors result in 1.Increase in cash 2.Decrease in Cash

4 20855

Accounting Standards in India are issued by whom

1 4617

How many Accounting have been issued by ICAI

2 5634

Rent paid to Land Lord account is credited to 1.Land Lords account 2.Cash account

2 13800

In case of Bad Debt such amount should be credited to 1.Cash account 2.Debtors account 3.Sales account

2 15023

what is the Assessment Year for the Previous year 2008-09

8 9637

Define Reserve & Provision?

Hindustan Copper Limited,

4 18484

Mr. X buys an asset of Rs. 1000/- in cash and with it get an free gold coin what is the general entry for this?

1 2008

Bank give some interest on deposit less tds what is the general entry for this?

3 6041

which form we use for TDS Return?

5 10819

What's the general entry for Prepaid salary on 31st march?

Genpact, IBM,

9 33907


Un-Answered Questions { Accounting }

please give me a last 10 years sbi clerk question and answer paper

2021


what accounts payable applications are your familiar with?

1203


What is the use of final account?

1892


Do you use social media to identify prospects?

1219


plz send me the apptitude question papers of wipro

2150


Q5 Prepare a Balance sheet from the following particulars: Gross profit =Rs.80,000 Gross profit to cost of goods sold =1/3 Stock velocity =6 times Opening stock =Rs.36,000 Accounts receivable velocity =72 days (year=360 days) Current assets=Rs.1,50,000 Account payable velocity=90 days Bills receivable =Rs.20,000 Bills payable=Rs.5,000 Fixed assets turnover ratio (on cost of goods sod)=8 times

2364


CLASSIFY THE FOLLOWING INTO REAL,NOMINAL AND PERSONAL- 1.unpaid salaries a/c 2.arvind mills a/c 3.arvind mills shares a/c 4.prepaid rent a/c 5.fire insurance premium a/c 6.life insurance premium a/c 7.petty cash a/c 8.loan given a/c 9.interest received a/c 10.loan received a/c

1564


Explain a time when you have not met your goal?

1154


updated rates of sales tax & VAT in Maharashtra

2903


Why did you choose the a-levels you did?

1122


Dear sir , 1-what is diffrence local tax & vat 2 -what is sales tax. tds. service tax challan & return due date(monthly & quartly, annually) 3- what is deprecation rate in company act 4-what is income tax latest limit-

1940


2. You are required to prepare a Profit & Loss Account for the year ending 31st December, 2007 and the Balance Sheet on that date. The Trial Balance of XYZ Ltd. for the year ended 31st December 2007 is as follows:- Trial Balance of XYZ Ltd. as on 31st Dec. 2007 Debit Balances Rs. Credit Balances Rs. Materials used 3,50,000 Sales(including 2% Sales tax) 9,18,000 Cost of Labour 1,50,000 Sale of Scrap 100 Stock, finished and work in process on 31st December, 2006 50,000 Rent received 2,000 Wages : Factory Staff 15,000 Discounts 2,750 Directors Remuneration 50,000 Recovered against fire claim re : Stock 5,000 Salaries : Clerical Staff 75,000 Capital : Equity 25,000 Insurances : Workmen’s Compensation 1,500 Preference- 9% 8,000 General, fire etc. 2,000 Creditors 1,56,000 Directors’ Life Insurance 1,500 Provision for Taxation 1,05,000 Maintenance : Buildings 1,000 Profit & Loss Account 13,750 Plant and Machinery 12,500 Rent and Rates of premises and hire of plant 20,000 Heat, Light and Power 15,000 Experimental and Laboratory Expenses 10,000 Canteen Expenses 5,000 Staff Welfare expenses 2,500 Motor Expenses 12,500 Professional Charges 2,800 Postage and Telephone 3,500 Books, Printing and Stationery 11,000 Sundry expenses 10,000 Carriage and Packing on Sales 3,300 Discounts 5,000 Debtors 1,78,000 Freehold Property 50,000 Plant and Machinery 12,500 Fixtures and Fittings – Offices 3,500 Office machinery and Equipment 3,000 Motor Car and Van 6,500 Stock of materials on 31st Dec. 2007 1,20,000 Bank 38,000 Sales Tax Paid 15,000 12,35,600 12,35,600 Depreciation is to be provided at the following rates: Plant and Machinery 10% Fixture and Fittings 05% Office Machinery, etc. 10% Motor Vans and Cars 25% The stock of finished goods and work in progress as on 31st December, 2007 was Rs. 35,000. Provide for preference dividend and ordinary dividend at 10%. The total taxation liability is estimated at Rs.1,50,000 of which Rs. 75,000 relates to the current year. Debtors include Rs. 10,000 deposited as security against government contracts. The Works Manager is paid partly by salary and partly by a commission; he is entitled to a commission of 5% on the amount by which the surplus in the factory cost exceeds 20% of the sales for the period. Charge the commission if any in the Profit and Loss Account.

2312


What is the value of the Budget for 2009-10

2033


is there easy guide for the latest India tax & accounting information for 2010?

2073


Tell me which accounting application you prefer most and why?

1025