What is the difference between P/L A/c and Balance sheet? When an adjustment account is prepared?

6 Answers  

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Expand CDR

2 Answers  

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In Pricing the gallons of petrol sold,service station 'A' follows the first-in-first-out method,while service station'B'follows last-in-first-out method.On 1st January both has the same quantity in stock viz.6,000 gallons at Rs.26 per gallon.During the month,each station recieved additional supplies of 6,000 gallons at Rs.27.50 per gallon.Sales for each of these two stations,during the month,were 8,800 gallons at Rs.29 per gallon. Determine for each service station,profit earned during the month and value of the petrol in stock at close of the month.

0 Answers  

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what is IFRS ?Brifely explain.

2 Answers   Innodata,

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why net profit will be added to the balance sheet? is there any reason?

10 Answers   Capital IQ,

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what is cash flow & what is funds flow statement

1 Answers  

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what is the meaning of P/V Ratio?

25 Answers   Chartered Accountant, Deloitte, eForum, GIC, Infosys, TCS, Wipro,

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how to solved the shares qusionas ?

0 Answers  

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How many types of depreciation method do you know? name it.

13 Answers   Delta Star, Ernst Young,

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Expand N H B

1 Answers  

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Define elaborately what is DIVIDEND

2 Answers  

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Let me know the difference between cash flow and free cash flow

0 Answers  

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