Answer / nagaveni.c

As per accounting standard 3 cash flow statement represent
the changes in cash position b/w the dates of the two
balancesheets. and also its additional information to the
user. and it also exibit flow of incoming and outgoing of
cash. its also one of the tool to measure the liquidity and
also short term debt paying ability of the firm

Answer / sudhakar

statement that determines that cash expenses and cash
incomes

What are the main things to see which making a Balance Sheet ??

2 Answers  

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Good will of Rs 100000 brought by D,a new partner was withdrawn by the partners in equal ratios.Pass required entries

1 Answers  

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A worker has time rate of Rs. 15/hr. He makes 720 units of a component (standard time 5 minutes/unit in a week of 48 hours). His total wages including Rowan bonus for the week is _____. A. Rs. 792; B. Rs. 820; C. Rs. 840; D. Rs. 864.

2 Answers  

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what are the Bank Vouchers?how it is entered in books of accounts?

1 Answers  

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Why we Add the net profit in the balance sheet ? Why we shows profit in the liability side of the balance sheet?

12 Answers  

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What is the due date for paying monthly IT deductions, other than deductions towards salary

1 Answers  

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what is cap & floor of call rates?

1 Answers  

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accrued income

12 Answers   Genpact,

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what is Reverse Repo Rate?

4 Answers   ICICI, Nabard, SEBI, State Bank Of India SBI,

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2. You are required to prepare a Profit & Loss Account for the year ending 31st December, 2007 and the Balance Sheet on that date. The Trial Balance of XYZ Ltd. for the year ended 31st December 2007 is as follows:- Trial Balance of XYZ Ltd. as on 31st Dec. 2007 Debit Balances Rs. Credit Balances Rs. Materials used 3,50,000 Sales(including 2% Sales tax) 9,18,000 Cost of Labour 1,50,000 Sale of Scrap 100 Stock, finished and work in process on 31st December, 2006 50,000 Rent received 2,000 Wages : Factory Staff 15,000 Discounts 2,750 Directors Remuneration 50,000 Recovered against fire claim re : Stock 5,000 Salaries : Clerical Staff 75,000 Capital : Equity 25,000 Insurances : Workmen’s Compensation 1,500 Preference- 9% 8,000 General, fire etc. 2,000 Creditors 1,56,000 Directors’ Life Insurance 1,500 Provision for Taxation 1,05,000 Maintenance : Buildings 1,000 Profit & Loss Account 13,750 Plant and Machinery 12,500 Rent and Rates of premises and hire of plant 20,000 Heat, Light and Power 15,000 Experimental and Laboratory Expenses 10,000 Canteen Expenses 5,000 Staff Welfare expenses 2,500 Motor Expenses 12,500 Professional Charges 2,800 Postage and Telephone 3,500 Books, Printing and Stationery 11,000 Sundry expenses 10,000 Carriage and Packing on Sales 3,300 Discounts 5,000 Debtors 1,78,000 Freehold Property 50,000 Plant and Machinery 12,500 Fixtures and Fittings – Offices 3,500 Office machinery and Equipment 3,000 Motor Car and Van 6,500 Stock of materials on 31st Dec. 2007 1,20,000 Bank 38,000 Sales Tax Paid 15,000 12,35,600 12,35,600 Depreciation is to be provided at the following rates: Plant and Machinery 10% Fixture and Fittings 05% Office Machinery, etc. 10% Motor Vans and Cars 25% The stock of finished goods and work in progress as on 31st December, 2007 was Rs. 35,000. Provide for preference dividend and ordinary dividend at 10%. The total taxation liability is estimated at Rs.1,50,000 of which Rs. 75,000 relates to the current year. Debtors include Rs. 10,000 deposited as security against government contracts. The Works Manager is paid partly by salary and partly by a commission; he is entitled to a commission of 5% on the amount by which the surplus in the factory cost exceeds 20% of the sales for the period. Charge the commission if any in the Profit and Loss Account.

1 Answers   Ignou,

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in accounts welding institute which category will come for example 1. recruitment con.pvt ltd. is man power recruit category ,so iwant to welding institute (learning welding and fibrication)

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what is stock? what is bond? who is portfolio manager? corporare action?

2 Answers  

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