Is there any significance between Bank Reconciliation and Account Reconciliation in Accounts?

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Premium collected by Insurance co. What will be all Journal entries & effect in the book of Insurance co in Transaction date & Period end date.

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We had billed to a Customer Rs. 50000/- he paid 45000 to us n not paying balance 5000/- how and where to enter Rs. 5000/- Is it bad debt...

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how to prost entry for purchases with a bill

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A persons salary 1 lac per month .How i can save the tax to company & persong giving by breaking of salary during year 2008-09 when FBt is applicable ?

1 Answers  

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if a company purchased measurement tape for office use .. it comes under which expense head 

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Hi Everyone, We purchased the Goods from other state, and I am liable for Entry Tax, my entry Tax is deposited in bank before 15th of every month. Now my questtion is : I purchase the Packing Items from other state but I return the same to suplier should it require entry tax deposit or not for this items. please explain

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How to do accounting entries in Accounts Payable

0 Answers   Accenture,

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A Vat account debit balance reported in the year end trail balance would represent?

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who is payee?

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what is the meaning of prepaid&accruals in accounting?

1 Answers   AFI,

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Manoj & Mahavir joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Manoj 90000 Withdrawals of Mahavir 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.

3 Answers  

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