Interested to Buy Any Domain ? << Click Here >> for more details...
I have received a sum of Rs.500 worth Bill from Vendor,
which is relevent to 2004-05. But Outstanding Expenses not
book during that Year? What is the Accounting Policies to
book this expenses?
- 1 Answers
- 4956 Views
- I also Faced
- E-Mail Answers
Answer / sreenatha reddy a
if any Expenditure is not accounted in any Previous year it should be booked in current year as Prior Period Expenditure under Indirect expenses. and the Same is Disallowed in the Computation of Income during the Current Previous Year. But In Case of Prior Period Income It Is Different and It Should Not Be Disallowed.
| Is This Answer Correct ? | 4 Yes | 0 No |
what is opening balance?
State with reason which account should be debited and which account should be credited in each of the following transactions: 1. Raj commenced business with cash Rs. 5000 2. Bought goods from Kiran for cash Rs. 1000 3. Sold furniture to Ravi on credit Rs. 500 4. Sold goods for cash Rs. 800 5. cash purchases Rs. 600 6. Bought Stamps Rs. 10 7. Withdrew cash from the business for personal use Rs. 1000 8. Paid salary to manager Rs. 500 9. Paid rent to landlord Rs. 200 10. Received commission from Mani Rs. 50 11. Paid for repairing machinery Rs. 30 12. Received cash form Ravi on account Rs. 400 13. Gave loan to Babu Rs. 500 14. Purchased goods from Sachin Rs. 400 15. Opened a bank account with Rs. 1000 16. Charged Mohan Rs. 50 commission for service rendered to him 17. Santosh paid the interest on loan advanced to him 18. Received loan from Manju Rs.10000 19. Office furniture stolen Rs. 500 20. Paid income tax Rs. 5000 21. Paid life insurance premium Rs. 300 22. Allowed discount to Babu Rs. 90 23. Discount received from Santosh Rs. 150 24. Amount charged by bank as bank charges Rs. 30 25. Railway fright paid on machinery purchased Rs. 100
Is vendor statement recon done as two way process? Statement to Ledger Ledger to stement?
4 Answers Capital IQ, Cognizant,
can we depreciate land &building and whats the rate of dereciation
What are examples of Factory Overhead?
what are the golden rules for accounts receivable?
what is Voucing?
the primary purpose of compliance test is to verify whether?
Who will audit an auditing firm?
1.tell me five points of check list of an audit. 2.what do you checking in statutory audit.five main points. 3.what do you checking in internal audit five main points. 4.which five major points checking according to caro.
Explain different functions of internal audit?
What is internal and statutory Audit and what are the roles of auditor.
Audit 
