Where we post the Amalgamation of goodwill

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Contents of a Balance sheet

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6- What do you mean by purchase merchandise; assets or expense?

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what is entry of depreciation in journal

4 Answers  

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What is the equation for acid-test ratio in accounting?

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if the chegue is post dated in the time of paying pre-paid insurense how can show the journal entry in the company book? please show that this journal entry

1 Answers  

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If A are issueing a Cheque to B when B will present the Chq. in Bank than what entry will be prepare by the Bank in Their Books ?

3 Answers  

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Any income which is earned in the financial year(2009-10) but received in the assessment year(2010-11) wil be taxable or not?

3 Answers  

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1)Why closing stock or stock always a positive balance is any reason for? 2)if i am working in IT company what is my Accrual?

1 Answers   Infosys,

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1. During the current period, ABC Ltd sold 60,000 units of product at Rs. 30 per unit. At the beginning for the period, there were 10,000 units in inventory and ABC Ltd manufactured 50,000 units during the period. The manufacturing costs and selling and administrative expenses were as follows: Total cost Number of units Unit cost Rs. Rs. Beginning inventory: Direct materials 67,000 10,000 6.70 Direct labour 1,55,000 10,000 15.50 Variable factory overhead 18,000 10,000 1.80 Fixed factory overhead 20,000 10,000 2.00 Total 2,60,000 26.00 Current period costs: Direct materials 3,50,000 50,000 7.00 Direct labour 8,10,000 50,000 16.20 Variable factory overhead 90,000 50,000 1.80 Fixed factory overhead 1,00,000 50,000 2.00 Total 13,50,000 27.00 Selling and administrative expenses: Variable 65,000 Fixed 45,000 Total 1,10,000 Instructions: 1. Prepare an income statement based on the variable costing concept. 2. Prepare an income statement based on the absorption costing concept. 3. Give the reason for the difference in the amount of income from operations in 1 and 2.

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what is the rate of purchasing computer goods from Gujarat, with C form, and what is the rate to sale it in Diu (Union Territory).

1 Answers   ASD Lab,

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our company purchased a used Forklift car. it is 6 year old. since it has reached its depreciated value, do i need to take it as a Fixed Asset? or just book it as an expense ?

1 Answers  

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