How tha valuation of Inventory should be done?

3 Answers   Deloitte,

---

Plant and machinery destroyed for 50000

0 Answers  

---

What is 3/3 in Procure to pay (p2p) in Accounts Payable?

0 Answers   Accenture,

---

Allowances means-mobile, trawling is direct exp or indirect exps

1 Answers   KCH,

---

example wrongly financial statments showing vat refund (under Advances) for the finanical year 08-09 , but present assement year after assement by cto given vat refund more than ledger showing balance then decided to every month set off vat payable to vat refund(advance) but more than recoverd compare with company and cto then what is the entry to be take.

0 Answers  

---

Accounting transactions are recorded in accordance with thier legal form or substance. Briefly explain the legal form and substance of the accounting transactions and give one relevant example.

0 Answers  

---

What is the entry for Accumulated Depreciation??

2 Answers   Genpact,

---

When you prepare Profit and loss A/C either you will get profit or loss but not both.Then why we are saying it as profit AND loss A/C,why cannot we say it is as Profit OR loss account?

0 Answers  

---

What is accrued expenses .and what is differance between accrued Expenses & Accrued Income?

3 Answers   HCL, HP,

---

From the following Trial Balance of Seema Garments as on 31st Dec., 2007, prepare Trading Profit and Loss Account and Balance Sheet: Dr. Rs. Cr. Rs. Opening Stock 15000 Purchases and Sales 109000 180000 Manufacturing Wages 8000 Fuel, Power and Lighting 12000 Salaries 11000 Income Tax 5500 Loan to Mr. X at 10% pa. 5000 Interest on Mr. X’s Loan 300 Apprentice Premium 4500 Rent 4000 Rent Owing 600 Furniture (includes furniture of Rs.1000 purchased on 1st July, 2007) 5000 B/R and B/P 6000 1600 Plant 72000 Debtors and Creditors 28000 13000 Capital 100000 Cash 19500 300000 300000 Informations: 1. Closing Stock was valued at Rs. 30,000. 2. Goodsworth Rs. 5000 was sold on 28th December, but no entry was passed to this effect. 3. Goods costing Rs. 7000 was purchased and included into Stock but no entry was passed to record the purchases. 4. Create a provision of 2% for discount on debtors. 5. Apprentice premium received on 1st January, 2007 was for 3 years. 6. Depreciate the furniture by 10% p.a. 7. Salaries for the month of December, 2007 are still outstanding.

2 Answers   Ignou,

---

Difference between reserves for bad debts & provision for bad debts.

6 Answers   HSBC, NRN Business solution, Siemens,

---

All Interview related Questions pertaining to General Ledger,Finance & Accounts.

0 Answers  

---