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Accounting Interview Questions
Questions Answers Views Company eMail

Accounting basic rules with example relevant to day to day business

Wipro,

2 4595

For the assessment year 2011-12, ie., FY 2010-11, is there cess on TDS for Professional fees ?

3 4773

how to know which item is contingent liability? and why it is not taken in treatment in final a/c....

1 3895

why we transfer wages and salary in trading a/c,and why we transfer salary and wages in p/l a/c?

2 17883

how to calculate tds on salary.if the 500 employee work in my company.so how calculate tds for each employee.

1 3659

how to reconccile account payable & account receivable.please provide best solution with example

1 4022

I have raised a Invoice of Rs. 78964 including service tax rs. 964 in month of April and service tax paid to Govt for April month/ We have voide this invoice in May'12 due to services cancelled by the customer, pls let me know can we adjust this paid service tax amount in our May service tax payable....and how to pass voide bill entry.....

1 3453

How to make balance sheet, please advise me in details... Thankx

1 4197

Calculate the current assets from the following information A>credit sales Rs.2,00,000 B>G.P.ratio 20% c>stock turnover 5 times. D>Current liabilities Rs.60,000 E>Quick ratio 0.75 Stock at the end Rs.5000 was more than the stock in the beginning.

1 3444

You are given the following information in respect of a company: Fixed cost –Rs.13,000 Variable cost –Rs.14,000 Net profit –Rs.3,000 Net sales-Rs.30,000 Find out: a>BEP b>The profit for sales volume of Rs.50,000 c>The volume of sales to make a profit of Rs.10,000

1959

Q A project cost Rs.6,00,000. It yields annually a profit of Rs.80,000. After depreciation of 12.5% p.a.but before tax of 50%.Calculate payback priod.

2285

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

2257

For the production of 10,000 units the following are the budgeting expenses: Per Unit Rs. Direct materials 60 Direct labour 30 Variable overhead 25 Fixed overhead (Rs.1,50,000) 15 Selling expenses (10% fixed) 15 Variable expenses (direct) 5 Administrative expenses (Rs.50,000 fixed) 5 Distribution expenses (20% fixed) 5 Total cost of sales per unit 160 Prepare the flexible budget for the production of 6,000 , 7,000 ,and 8,000 units of production

2901

when we give to payment for contractor what entry pass with tds?

3 14564

how we pass commission entry when we give to other with tds ?

GFS,

1 3801


Un-Answered Questions { Accounting }

Meaning of portfolio management?

2027


What are the objectives of internal audit?

1202


Transfer nett profit of Rs 325000/- to Reserves and Surplus

2392


Sales Invoice 50000/- fully profit , management want profit for this year should be appear in P&L A/c and B/S 25000/- only and remaining 25000/- profit retain for the next year  What will be JV for this year and next year?- Thank you

2589


What are the criteria for accounting job?

1871


shyam consigned 200000 unit @ rs 5/-each to mr ram and paid freight and insurance amounting to rs 100000.ram spent further following amount: 1) insurance rs 5000 2) godown rent rs 4000 3) clearing rs 6000 2000 unit were damages during transits due to heavy rains. Ram sold 100000 unit @rs 10 per unit . ram realisec solvage value of damage unit rs .2000 ram is get 5% commission on sale determine the abnormal loss?

2395


What is account

2171


Please answer me for the followings 1. i taken an office on January @ rent 28000.00 for one year and i paid 14000.00 as first payment balance will be paid on august. in tally how we post this and under which account especially balance 14000.0 under which account. 2.i have taken a loan from mr. A the amount is 100000.00 on January and the interest i need to pay on march 21000.00 the interest which iam going to pay is liability not a expense and it will be a expense in future, how we can post this also in tally and under which account. please somebody guide me who knows regards niyas es

1798


difference between contra entry and double entry?

3031


My company's accountant use two different way to calculate Depreciation,one as per Companies Act and another rate for Income Tax calculation. Why we have to use two way to calculate it? Can we just use one way to calculate?

2021


hi gurus , plz can anybody forward ur cv of accounts/finance related , exp of 4+ years to afreenjuveriya@yahoo.com

2301


Tell us do you have any professional experience of this field?

975


when we want bought a new asset (for ex. car)how we calculate our income with the eye of income tax

1853


why do u want to join bpo sector

2222


Can share warrants issued by the company be considered as potential equity shares? If yes, then will it be considered for calculating dilutive EPS?

1795