What is meant by daily accrual and booking?

0 Answers  

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Contents of an Invoice receipt

2 Answers  

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who is invented to accounting

3 Answers  

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what is a state cheque? how it differes from stale cheque?

0 Answers   Banking,

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what effect closing balance and there effected ?

3 Answers  

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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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what is npa?

3 Answers  

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What elements of your job interest you the most, and least?

1 Answers   Insurance, Pharmaceutical, Sahajanand, Taikisha,

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What do we mean by Redemption of shares and debentures?

0 Answers   Genpact, Idbi Bank,

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i have query on bank reco. pls suggest me on my following question my bank bal as on 31.3.09 was rs 700000 but after reconsilation it was 100000 because there was two three cheque was ulcleard. which bal should i take in new FY & how i show into account

5 Answers  

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what is the difference between trial balance and the balance sheet.?

1 Answers   CTS,

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Loss on issue of debentures is treated as ____________. (a) Intangible asset (b) Current asset (c) Current liability (d) Miscellaneous expenditure

2 Answers   CPT,

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