What is consignment cycle.?Explain the steps involved in the Consignmet..?

0 Answers  

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By saying, perpetual or periodic inventory system; what do we mean?

0 Answers  

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for giving the salary in terms of cash to an employee for what minimum amount revenue stamp is reqired to paste the vouceher? up to what limited revenue stamp is required?

1 Answers  

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what are the supporting documents of expenses?

7 Answers   Accenture,

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If i have to sell the existing Business of Mine, What are the calculation for this ??

2 Answers  

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Called-up capital ?

3 Answers  

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wahat is the journal entry for cheque paid for collection but not collected?

15 Answers   Infosys,

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I have recieved a payment from hmrc on Friday morning and by the afternoon it was removed from my bank account by contra entry what does this mean? Will I recieve the money?

2 Answers   ME,

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which are the final entries while closing of books and account at the end of financial year ?

1 Answers  

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I am a Leaving Cert Student. From Solutions to exam questions etc. I know what to do with the following adjustment but I cannot explain why. A thypical Adjustment is: A building is acquired for €60000 plus VAT at 10%. The amount paid to the Vendor was entered in the Buildings Account. No entry made in the VAT account. Could you explain why the VAT amount is deducted from the VAT amount in the TB? And why it is sometimes an Asset in the BS. Thank you, Mary

0 Answers   College School Exams Tests,

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The following information is extracted from the audited books of accounts of a chain of food stores for the period ended 31st December 2015. Revenue Statement (Trading and Profit and Loss Account for the year ended 31st December 2015. BWP’000 BWP’000 Sales 460 Cost of good sold (220) Gross profit 240 Wages 50 Other expenses 30 (80) Net Profit 160 Note: The purchase figure included in the cost of goods sold of P255 000. Balance Sheet as at 31st December 2015 BWP’000 BWP’000 Fixed Assets 400 Current assets: Stock 80 Debtors (trade) 120 Bank 400 ----- [600] Current liabilities: Trade creditors 300 ------ [300] 300 Net Assets 700 ==== Financed by: Share capital 600 Revenue reserves 100 ------ 700 Shareholders Funds 700 ===== Required: (a) Calculate the following accounting ratios: (i) Current ratio (ii) Acid test ratio (iii) Stock turnover (in days) (iv) Debtors turnover (in days) (v) Creditors turnover (in days) (vi) Return on capital employed (ROCE) (vii) Gross profit percentage (viii) Net profit percentage (b). Give a brief comment on the performance of the company, based on the above ratios.

0 Answers   BOCODOL,

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Balance Sheet

2 Answers   Chartered Accountant,

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