How to take the closing balances of all ledgers into next financial year as opening balances in tally?

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why are the company hire you.

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Explain me fair value accounting?

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i purchase a vehicle rs 500000,including vat 5% , registration fee rs 40420 and insuarance fee 18500, after the use two year i sale it. how to calculate it cost? what entry in tally?

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The jouranl entry of purchage of fixed assets are assents a/c dr. to cash/bank account why we not make journal entry for this is purchage a/c dr. to cash/bank .

9 Answers   Reliance,

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What are direct and indirect taxes?

7 Answers   Genpact,

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What is the difference between cost accounting management accounting and financial accounting?

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The 'going concern concept' is the underlying basis for: 1.stating fixed assets at their historical cost 2.disclosing the market value of securities 3.disclosing the sales and other operating information in the income statement 4.none of the above

1 Answers   Infosys, Satyam, Symbiosis,

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Manoj & Mahavir joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Manoj 90000 Withdrawals of Mahavir 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.

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Explain what is accrual accounting?

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What is balance sheet and off balance sheet?

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adjustment entry showing in tally such as outstanding salary prepaid salary etc.

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