40. If revenue was $70,000, expenses were $59,000, and the owner’s withdrawals were $25,000, the amount of net income or net loss was: a) net income of $11,000 b) Net income of $36,000 c) Net loss of $59,000 d) Net income of $70,000

3 Answers   Capmark,

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if we have credit 50 % rg23c part ii first and not credit next balance 50 % .when we have do?

0 Answers   ABC,

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Expand---------SDRT?

0 Answers  

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what is cost centre , job costing & Budget control. what is the effect of these.Explain its briefly.

0 Answers   IVRCL,

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Expand A C

1 Answers  

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types of mutual funds?

5 Answers  

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From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.

0 Answers   D M Systems, Ignou,

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The Trial Balance of M/S Ram & Co,Shows chosing stock of Rs,30000. It will be recorded in: - .................. (a) Trading A/c; (b) Profit & Loss A/c; (c) Balance Sheet; (d) Both (a) & (b)

4 Answers  

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difference between financial accounting and cost accounting

4 Answers  

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Queries for Big4 Articleship : Stipend and tenure of articleship period. Any leave period for preparation for exams.

8 Answers   Genpact,

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Sir i am working in 3 star hotel as a senior accountant i need some general letter drafts pleas do the need ful

0 Answers  

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What is semi variable expenditure and example?

1 Answers   Capital IQ,

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