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1.WHAT IS BRS?
2.WHY DO WE PREPARE BALANCE SHEET?
3.WHAT IS TRIAL BALANCE?
4.WHAT IS VENTURE CAPITAL?
5. WHAT IS DEFFERED REVENUE EXPENDITURE?
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Answer / santosh
1) BRS is a statement preparing to know the difference
between cash book and bank book, it prepared by both bank
and individual who maintain the cash book. it reconciles the
difference amount due to the late record in the books
2) Balance sheet is statement prepare to know the financial
position of particular period of time
3)Trail balance is a statement of assets, liabilities,
woner's equity of particular point of time to know the
financial position of the business.
4) Venture capital is financing to high risk ventures by
providing new qualified enterpenures and provides funds to
give shap of their ideas
5) Differed revenue expenses are recurring expenses for
helps in growth of business, these are recurred but not
effect on p/l a/c, because these are heavy expenses and
those are not write off in a single accounting year, it
takes in next up coming years
| Is This Answer Correct ? | 22 Yes | 0 No |
Answer / manish yadav
1. BRS IS A STATEMENT PREPARE ON A PARTICULAR DAY TO KNOW
THE CORRECTNESS OF CASH BOOK WITH THE BANK STATEMENT. MEANS
WHETHER ALL THE TRANSACTION IN CASH BOOK IS ACCORDING TO
BANK STATEMENT OR NOT. IF YES, THEN FIND OUT THE REASON.
2. BALANCE SHEET IS PREPARED AT THE END OF THE ACCOUNTING
YEAR TO KNOW THE FINANCIAL POSITION OF THE BUSINESS.
3. ALL THE ERRORS WHICH OCCURS IN PREPARATION OF LEDGER CAN
BE FIND OUT WITH THE HELP OF TRIAL BALANCE.
4. VENTURE CAPITAL IS BASICALLY THE FUND PROVIDED BY THE
INVESTOR FOR START UP THE BUSINESS.
5. ALL THOSE EXPENSES, THE BENEFIT OF WHICH WILL BE ENJOY
IN FUTURE IS CALLED DEFERRED REVENUE EXPENDITURE. LIKE:
ADVERTISEMENT EXP. AND SHOWN IN ASSETS SIDE OF THE BALANCE
SHEET.
| Is This Answer Correct ? | 14 Yes | 0 No |
calculation of coast of goods sold
The Tabula Manufacturing Company has been in business for one month. At the end of month the company had the following accounts: Materials used K 5 000.00 Direct labour 10 000.00 Indirect labour 3 000.00 Indirect materials 2 000.00 Labour fringe benefits 1 000.00 Supervisor’s salary 1 000.00 Depreciation Machinery 2 000.00 Miscellaneous factory overhead 1 000.00 Heat and light 500.00 Insurance on plant 1 500.00 The company processed two jobs during the month with costs as follows: Job 101 Job 102 Materials cost K3 000.00 K2 000.00 Direct labour cost K6 000.00 K4 000.00 Direct labour hours 4 000.00 3 000.00 Machine hours 2 000.00 1 000.00 The company does not use a predetermined rate for factory overhead. The rate is computed at the end of each month. Required Use both the direct labour hours and machine hours to compute: 1) The overhead rates for the month (5 pts) 2) The overhead cost for each job (5pts) 3) The total cost for each job (10 pts) 4) Briefly describe the difference between Job order and process costing, citing relevant examples (5 pts).
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