Answer / sangeethag

Provision entry is not compulsory. When we have not
received routine expenses like telephone expenses, postage
etc. we have to make provision for the month of closing so
that we can have exact profit otherwise the profit may
high.

Entry for provision:

Expenses (P&L) Dr. ****
To provision a/c (BS) ****

Answer / motilal verma

It is compulsory for booking for provision because without
provision you can not make a balence sheet with 100 %
Accurate. suppose you are closing financial year on 31
march and up to 31 March you can not book some exp like
income tax(based on calculation of net profit) , tel bill
(March) , water bill(March).

Income tax A/c ........Dr.
water Exp A/c..........Dr
To Prov for Income tax.
To Prov for water Exp.

hence it is compulsory as per company and income tax act.

Answer / hemanta behera

Provision is compulsory. provision for dept compulsory
Ex
Badept 5000
provision for dept 12000
The entry is
Badept 5000 Dr*
provision for badept 12000 Dr*
To debtor

Answer / manjunath.r

provision :- It is compulsory for booking for without you
can make balance sheet

any expense you not recorded in entery book that time will
be accpeted

The owner of the consignment stock is________ (a) Consignor (b) Consignee (c) Debtors (d) None

4 Answers  

---

what is stock split up

1 Answers   Capital IQ,

---

Categorize the following journal entry in Real A/c, Nominal A/c and Personal A/c: Goods worth Rs.10,000/- destroyed by fire and the insurance company admitted the claim for Rs.8,000/- Insurance Claim A/c Dr. 8,000/- Loss By Fire A/c Dr. 2,000/- To Trading A/c 10,000/-

1 Answers  

---

Dear sir we are running a export enterprises and we are marchent and exporter we purchaige the goods from mahahrashtra /gujrat and many indian stats our iec cod is issue from varanasi and our firam is registerd from azamgarh utter pardesh kindly advise me can i purchige the goods from gujrat and send direct to port or shude we inter the goods in utter pardesh then we sent to port i m asking this question because our salse department is not issue form H kindly give me advise i m waiting for your for reply thanks and regards e mail id: burque786azm@yahoo.com javed

1 Answers  

---

In the income statement we may get profit or loss but the name of the statement was Profit and Loss account Why it was so?

1 Answers   Satyaki Educational Academy,

---

what is accrued expense

4 Answers  

---

Your grandfather is 75 years old. He has total saving of Rs. 80000. He expects that he live for another 10 years and will like to spend his saving by them. He placed his saving into a bank account earning 10 per cent annually. He will draw equal amount each year- the first withdrawal occuring one year from now in such a way that his account balance becomes zero at the end of 10 years. How much will be his annual withdrawal?

2 Answers  

---

Dear Sir, We are operating a Security Agency, Please suggest us how to calculate holidays & Overtime duty, where we take 12 hrs, duty from guards in place of 08 hrs. duty. Please suggest us how to calculate. thanking you, suman

1 Answers  

---

Explain me is any difference between inactive and dormant accounts?

0 Answers  

---

Among financial and cost accounting,which is more important? why?

2 Answers  

---

what is balance of trade

1 Answers  

---

Excise rate of 2010 in haryana

1 Answers  

---