Answer / poorna

Gross profit or the gross loss are the outcomes from trading account, where any of these outcome will helps to derive the net profit or net loss from proft and loss account....where this net profit or loss is linked to the capital amt on liabilities side to know the fairness of the concern by equating both assets and liabilities.....

While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing stock of the previous year. In the previous year, closing stock was valued more by Rs.50,000. As a result (a) Previous year’s profit is overstated and current year’s profit is also overstated (b) Previous year’s profit is understated and current year’s profit is overstated (c) Previous year’s profit is understated and current year’s profit is also understated (d) Previous year’s profit is overstated and current year’s profit is understated

0 Answers  

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When tds is deducted from the payments to suppliers, how the Entry will appear in books of accounts in tally.

3 Answers  

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usualy what they are expecting source of knowledge while in interview

2 Answers   MAHINDRA,

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how to prepare trial balance?

1 Answers  

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The purpose of accommodation bill is_______ (a) To finance actual purchase or sale of goods (b) To facilitate trade transmission (c) When both parties are in need of funds (d) None of the above

1 Answers   Infosys,

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Suppose a person is paid @ Rs.1 Lac Per Month for 2 months by the Owner/Director prior to the Company's incorporation for Managerial work and that person continues to work with the Company . Is the Director liable to deduct TDS on his Employee's Salary before incorporation also? And when the Company is incorporated after 2 months, Is it possible to show this expenses as Pre-incorporation Expenses?.What would be treatment for Salary Paid and TDS Deducted when the Company is incorporated? How will we give TDS Certificate to the Employee at the end of the Financial Year?

1 Answers   TCS,

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1) XYZ Ltd bought goods for Rs.200000 from ABC Ltd. The co gave 10% discount. give journal entries in the books of ABC Ltd and XYZ Ltd. 2) Goods bought for Rs.400000. While transporting goods destroyed. Insurance co agreed to pay 75%. post journal entries.

6 Answers  

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How to calculate Gratuity & when it's applicable to employee after three years or Five years?...

0 Answers  

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Assuming you are at the office and a colleague criticizes u, how would you react?

1 Answers  

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Tell us do you have any idea about service tax or excise?

0 Answers  

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what will be the entry of income tax paid in partnership firm.

3 Answers  

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what is the reserve & surplus ?

1 Answers   ABC,

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