Interested to Buy Any Domain ? << Click Here >> for more details...
What happens to the company's "cash account" if it borrows money from the bank by signing a note payable?
- 0 Answers
- 1228 Views
- I also Faced
- E-Mail Answers
No Answer is Posted For this Question
Be the First to Post Answer
WHETHER CAPITAL RESERVE CREATED OUT OF SALE OF FIXED ASSETS OVER AND ABOVE THE COST BE TRANSFERED TO PROFIT AND LOSS ACCOUNT
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.
what will be the treatment of preliminery expenses if due to preliminary expenses being written off there results a loss?
1- Can ledger make without journal?
Q1.How depreciation deffer from depletion? Q2.show the main benefit from calculating and recording depreciation.
Should we take the taxes in to P& L A/c.
What is accounting
what is the difference between earnings and profits
Can anybody tell me diference between provisions of Profit and Loss account prepared as per company act & Income Tax Act?
What is the suitable method of charging depereciation?
What is the difference between Open Items and Reconciling Items on a Balance Sheet Reconciliation?
What is MIS report and Expalain with Explamples by using MIS format
Audit 
