Interested to Buy Any Domain ? << Click Here >> for more details...
What is the closing entry?
- 2 Answers
- 7957 Views
- Genpact, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / rajan singh
A journal entry made at the end of the accounting period.
The closing entry is used to transfer data in the temporary
accounts to the permanent balance sheet or income statement
accounts.
| Is This Answer Correct ? | 28 Yes | 0 No |
Answer / sumitra
at the end of accounting period we pass closing entries in journal proper..such as transferring gross profit to p/l account etc
| Is This Answer Correct ? | 5 Yes | 2 No |
what is capital employed?
2. A budgeted profit statement of a company working at 75% capacity is provided to you 2 below, Sales 9,000 units at Rs. 32 Rs. 2,88,000 Less: Direct materials Rs. 54,000 Direct wages 72,000 Production overhead: fixed 42,000 variable 18,000 1,86,000 Gross profit 1,02,000 Less: Administration, selling and distribution costs: fixed 36,000 varying with sales volume 27,000 63,000 Net profit 39,000 You are required to: (a) Calculate the breakeven point in units and in value. (b) It has been estimated that: (i) if the selling price per unit were reduced to Rs. 28, the increased demand would utilise 90% of the company's capacity without any additional advertising expenditure, and (ii) to attract sufficient demand to utilise full capacity would require a 15% reduction in the current selling price and a Rs. 5,000 special advertising campaign. You are required to present a statement showing the effect of the two alternatives compared with the original budget and to advise management which of the three possible plans ought to be adopted, i.e., the original budget plan or (i) above or (ii) above. (c) An independent market research study shows that by spending Rs. 15,000 on a special advertising campaign, the company could operate at full capacity and maintain the selling price at Rs. 32 per unit. You are required to: (i) Advise management whether this proposal should be adopted.
WHEN WILL SBI DECLARE THE RESULTS OF INTERVIEWS OF CLERICAL CADRE HELD IN APRIL-MAY 2010?
0 Answers State Bank Of India SBI,
i need clarification about tds will be calculate before deductions or after deductions on gross salary+incentive
Explain about SEC
if we have provision for bad debts and RDD then on which amount we have to calculate RDD original or deducted?
for an inter branch bank transfer (sbi to sbi)what entries should we pass?
salaries due for the month of march will be recorded in
is it related to b.com syllabus or puc syllabus
0 Answers AIM Research, Bank of Baroda,
LIQUIDITY
Who is debtor purchaser
WHAT DOES MEAN BY RECONCILLATION EXCESS/SHORTAGE
Audit 
