Accounting Interview Questions, Answers for Freshers and Experienced asked in various Company Job Interviews

Audit (531)
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Taxation (2208)
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Accounting Interview Questions

Questions Answers Views Company eMail

A is vendor of B. B owes him 50000/-. A asked B to conduct an event on his behalf and the expenses incurred by B was 25000/-. A issued a credit note in favour of B in full , stating that TDS done @10% on 25000/-. Now , B has to settle A's balance. 1.Entries in the books of B 2.How much B repaid to A for settlement and the Entry in his books.

CTPL,

5 7088

what is the meaning of capital market?

TCS,

1 3979

Provison for payments (benefits received but bill not received at the closing of accounts)(utilites, Telephone, Rent)

Accenture,

1 5350

What Is Differ tax,

2110

A non-function currency claim:- Employee while updating a non functional currency claim the system uses the period end rate i.e. any claim pertaining to the period 01Aug - 25th Aug. the system uses the period end rate as of July 31st. (2) Also, what is the basis of using the period end rate not the average rate for expenses claim. Can you please clarify my question.

1982

Is bank charges in accounting a direct expenses or indirect expenses

7 30882

I am trader & my office in Delhi & I have any Material purchase from Puna & I want directly dispatch material from Puna to Ludhina which my customer. So what can I do this transaction ? & what will the tax pay.

2 4382

What is Debenture ?

Panosonic,

4 6326

What Debt Equity Ratio ?

HCL, ICICI, Xchanging,

2 6911

WHAT IS THE MAIN OBJECTIVE TO ISSUE THE WAYBILL TO THE SUPPLIER ? WHAT IS THE TAX LIABILITY ARISES ? WHO HAS THE OBLIGATION TO PAY THE TAX ?

Essar,

2640

should we can take modvat benefit any time or they have some limit time to take input benefit claim?

2558

I plan to buy a new flat in Hyderabad which has never been registered before. Area of the flat is 1115 Sq. ft. I intend to know the following things.1.) what should be the amount of registration?.2.) Is there any VAT. If there is VAT what is the percentage?.3.) Is there any service tax. If so, what should be the percentage? as per F.Y 12-13 rule

2416

I am getting a salary of 50000 Rs Net salary. After showing my rent bills and children school bills, still I am being deducted a TDS amount of 2000. Is there any chance of even avoiding this amount to be deducted by investing in any insurance. Please give me a suggestion.

2 4439

ambar became insolvent a dividend of 50 paise in rupee is received required journal entry for this transaction

1 10684

how can i solve accounting problems easily ????tell me the basics

Accounting,

2 5298

Un-Answered Questions { Accounting }

Do you know how many types of business transactions are there in accounting?

1068

What type of questions in accouting point of respect they ask genrally plz help me find out this.

2036

Capital reserve is - a) real account b) nominal account c) personal account d) none of them

916

Tell me how you can adjust entries into account?

1022

How to do an internal audit effectively?

1120

Expand---------OST

2225

THERE IS EXCESS TDS REMITTED UNDER SECTION 194 H IN EACH MONTH STARTING FROM APRIL 2011 TO DECEMBER 2011.THIS IS DISCOVERED IN JANUARY 2012. THE QUARTERLY RETURN IS YET TO BE FILED. HOW TO TAKE EXCESS CREDIT IN FILING QUARTERLY RETURNS ? WHETHER EXCESS TDS CAN BE ADJUSTED AGAINST REMITTANCE OF TDS FOR JANUARY 2012 (UNDER 194 H ONLY)AND THE BALANCE ONLY CAN BE REMITTED? IF SO, HOW TO GIVE THE CHALLAN REFERENCES IN THE RETURN?

2195

would gross expenditure vouch the correctness or otherwise of the given expenses?

2101

Hi I would like to know what is journal entry for buying securities with Margin Trading I mean 50% of cost is paid by broker. 2nd question is when we withdraw extra money from the balance we have in bank account which means our balance become (-) what is journal entry for that, should I just credit the bank or should I put the extra money with-drawled as a liability account ? Thank you in advance!

2161

Raju put labour charges bill for Rs 65000/- You are directed to deduct 5% security deposit and 1.15% TDS from the bill. Pass journal entry for it

2198

Explain dual aspect term in accounting?

1014

is anybody attended interview in ernst&young for EMS PROCESS , pls let me know abt the written test and what type of report writing

2235

on earth moving road work which type of tax is applicable?

1868

M/s ABC Brothers, which was registered in the year 2000, has been following Straight Line Method (SLM) of depreciation. In the current year it changed its method from Straight Line to Written Down Value (WDV) Method, since such change would result in the additional depreciation of Rs. 200 lakhs as a result of which the firm would qualify to be declared as a sick industrial unit. The auditor raised objection to this change in the method of depreciation. The objection of the auditor is justified because (a) Change in the method of depreciation should be done only with the consent of the auditor (b) Depreciation method can be changed only from WDV to SLM and not vice versa (c) Change in the method of deprecation should be done only if it is required by some statute and change would result in appropriate presentation of financial 6 statement (d) Method of depreciation cannot be changed under any circumstances

1853

What are the purposes of maintaining control ledgers?

1091

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