As an importer of goods through letter of credit, (payment
is done through indian bank to foreign back), my question
is who is liable to pay with holding tax when the payment
is remitted to foreign bank, whether the buyer(importer) or
the seller and why?
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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. The following data is available. Determine the Break Even point in Sales: Sales : $1,800,000/- Fixed Expenses : $ 375,000/- Variable Expenses : $ 1,200,000/-
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