What are the method of accounting?

7 Answers   Capital IQ,

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While closing books for the year end, We had Closing stock which is inclusive of VAT(i.e Cost price + VAT), What is the treatment of this Closing Stock in the P&L and BS , is Closing Stock Shown Inclusive of VAT (ie. Cost price +VAT) or, without VAT (ie. Cost Price)

5 Answers  

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How can I pass the journal entry for Work in progress. I would like to know that where should be the debit and credit allocated in accounting system. eg. WIP debit will be under asset a/c in balance sheet what about credit? pls.help me

1 Answers  

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What do u mean by Vouching? What is Vouching?

2 Answers  

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Assume that the real risk-free rate is 3% and that inflation is expected to be 8% on year 1,5% in year 2,and 4% thereafter.Assume also that all Treasury bonds are highly liquid and free of default risk. If 2-year and 5-year Treasury bonds both yield 10%,calculate the difference in the maturity risk premium on the two bonds.

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What is peach tree accounting?

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Which kind of transactions are not recorded in the books of account?

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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

0 Answers  

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Hi Everybody, i would like to know the journal entry for the below question, 1). One color Tv is taken by proprietor for Personel use. also in TALLY Accounting package how i can post,if it is drawings,under which account, please let me know. Thanks,

12 Answers  

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if we have received the bill of telephone and electricity for the period 16th march to 15 april ,what will be the entry for the year ended 31st march '10?will there be any provision entry for this

3 Answers  

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Explain me is any difference between inactive and dormant accounts?

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what is journal entry for the credit sales and purchases

5 Answers   Accenture,

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