Answer / vikas tanwar

if party/company charge the high price of goods after
committment of low rate or over rated in there goods or
product.then we make a debit note to recover the amount
from the party/company.
and if we are rating high price of our goods/products after
commitment of low rate so we make Credit Note to give the
amount as per our agreement.

Answer / raghu

when we debit in our books its called as debit note and when
we credit in our book its credit note

can we assign one more currency to the client

2 Answers   HCL,

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Breif notes about accounting standards

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WHAT IS PORTFOLIO MANAGEMENT?

15 Answers   India Infoline,

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Anand put Hire charges bill for Rs 185250. During the course of work we supplied diesel worth Rs 25360,paid driver battas of Rs 1050.Pl pass journal entry by taking security deposit @ 5% and TDS @2.25%as deductions from bill

2 Answers  

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if salary p.m rs 70000 what will the rate of tds for assessment year 2011-2012

2 Answers  

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What is accrued account payable?? Give some journal entries with examples.

3 Answers  

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2. You are required to prepare a Profit & Loss Account for the year ending 31st December, 2007 and the Balance Sheet on that date. The Trial Balance of XYZ Ltd. for the year ended 31st December 2007 is as follows:- Trial Balance of XYZ Ltd. as on 31st Dec. 2007 Debit Balances Rs. Credit Balances Rs. Materials used 3,50,000 Sales(including 2% Sales tax) 9,18,000 Cost of Labour 1,50,000 Sale of Scrap 100 Stock, finished and work in process on 31st December, 2006 50,000 Rent received 2,000 Wages : Factory Staff 15,000 Discounts 2,750 Directors Remuneration 50,000 Recovered against fire claim re : Stock 5,000 Salaries : Clerical Staff 75,000 Capital : Equity 25,000 Insurances : Workmen’s Compensation 1,500 Preference- 9% 8,000 General, fire etc. 2,000 Creditors 1,56,000 Directors’ Life Insurance 1,500 Provision for Taxation 1,05,000 Maintenance : Buildings 1,000 Profit & Loss Account 13,750 Plant and Machinery 12,500 Rent and Rates of premises and hire of plant 20,000 Heat, Light and Power 15,000 Experimental and Laboratory Expenses 10,000 Canteen Expenses 5,000 Staff Welfare expenses 2,500 Motor Expenses 12,500 Professional Charges 2,800 Postage and Telephone 3,500 Books, Printing and Stationery 11,000 Sundry expenses 10,000 Carriage and Packing on Sales 3,300 Discounts 5,000 Debtors 1,78,000 Freehold Property 50,000 Plant and Machinery 12,500 Fixtures and Fittings – Offices 3,500 Office machinery and Equipment 3,000 Motor Car and Van 6,500 Stock of materials on 31st Dec. 2007 1,20,000 Bank 38,000 Sales Tax Paid 15,000 12,35,600 12,35,600 Depreciation is to be provided at the following rates: Plant and Machinery 10% Fixture and Fittings 05% Office Machinery, etc. 10% Motor Vans and Cars 25% The stock of finished goods and work in progress as on 31st December, 2007 was Rs. 35,000. Provide for preference dividend and ordinary dividend at 10%. The total taxation liability is estimated at Rs.1,50,000 of which Rs. 75,000 relates to the current year. Debtors include Rs. 10,000 deposited as security against government contracts. The Works Manager is paid partly by salary and partly by a commission; he is entitled to a commission of 5% on the amount by which the surplus in the factory cost exceeds 20% of the sales for the period. Charge the commission if any in the Profit and Loss Account.

1 Answers   Ignou,

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I am a Tax Practioner Prepared 6 sets of Interview questions with answer books.Is there any body need them. All the questions related to Accounts and Taxation. Regular users of this site are utilising the chance.

21 Answers  

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I am maintaing books of accounts a Software Co. Kindly advise me Account Head of these exps. (Software Exps.,Internet Exps., Video Exps.,Server Maint.Exps.,& SMS Exps.,) Thanks

0 Answers  

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what is the system of accounting and banking in cooperative bank?

0 Answers  

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Received credit note for Rs 3500 towards transport charges on the goods supplied from Vinod traders. The transport charges were already paid at the time of delivery. Pass entries at the time of payment of transport and for credit note

0 Answers  

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what is unique in you i.e, why should i prefer you than

0 Answers   ADP,

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