How to calculate interests?
Answer / chode srinivas
Interest can be calculate as follows:
Interest= (Principal Amount X Rate of Interest/100) X No.of
days/365
| Is This Answer Correct ? | 12 Yes | 0 No |
Topic contra entry; How to post cash withdrawn from bank for office work? the journals to be passed?
if we have charged vat @ 5% instead of 4% ,how can we rectify that invoice ?we have already send that invoice to our client and we have received that payment also .Invoice Dated 25/01/2010 Kindly advice on that .........
The following transactions relating to ABC Ltd for the month of 20x1 a) Services performed in relation to income recieved in advance total $1500 b)Supplies expense includes $400 of supplies that are still on hand at 30 June c)Interest accrued on the bank loan is 750 d)At the end of june paid rent for 3 months (June, july Aug) $6000 e)Credit sales for the month of June 2009 amounted to $50000. Past expierence shows that around 1.5% of net credit sales are written off as bad debts. XYZ ltd, previously notified ABC ltd that they have gone bankrupt, will be able to pay $1000, which was recieved at the end of the month. The provision of doubtful debt has an opening balance of $800. f) The owners of ABC Ltd wish to revise the balance of the provision of doubtful debts account to $3500. g) Depreciation of one year on the delivary van is $1500. h) On 30 June 2009, ABC Ltd sold an item of equipment for $40000 cash. The cost of equipment was $50000 and had a accumulated depreciation balance of $2000 REQUIRED: Prepare the relevant adjusting journal entries for the month of June 20x2
Machinary worth Rs 2000 and sold to Rs 1200. Bought new one Rs 4000 and carige inwards Rs 5 How many amount trafer to Capital a/c?
what is consumer product accoutning?
what are fund flow statements
How can you do credit control?
What is Tax Audit ? Please Explain.
Scheme is given by a company to his distributors on sale of goods, what is the treatment of this scheme distributors hand Direct income or indirect income
what is bill receible
why capital is a liability ?
What is accounting