Answer / dattatraya

while colsing the books of accounts at the end of the
financial year normally following accounting entries need
to post.

1. Transfering personal accounts balance to the control
account like individual debtors accounts balance to debtors
controls accounts. In the Computer system this entry need
not to be posted because system automatically transfer
clearing accounts GL balance to control account.

2. Espenses accounts balance to the profit and Loss
accounts.

3.Income accounts (other than Sales) balance to the Profit
and Loss accounts.

4. Notional entries :
a. Depriciation charges on Assets
b. Intrest on Loan
c. Rent paid (while primises is owned by the proprietor)
d. Provision for bad and doubtful debts accounts.
e. Bad debts (when we come to know at the end of the year
some provision made for doubtful dets are finaly
irrecoverable.)

if u sale an asset for Rs.1000, which shows the book value of 8600. what will be the journal entry???

3 Answers   ACS,

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A business sold goods valued at R1000 excluding vat on credit to a customer. What would be the debit to the customers account if vat is 14% ?

1 Answers  

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can any one tell me what is the difference between Accounting period & Financial year? Will be waiting for your answer. It's an open source question, any correct answer will be appreciable. Thanks. Regards, Mr. RKO

1 Answers  

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what is p.f filing date pls tellme friends......?

1 Answers  

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you have get 100RS but no 10RS note is required & there should be only 10 notes

2 Answers  

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Calculate the total Depreciation for four or five Years so give example?

1 Answers   EDS,

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Explain the Steps to transfer the data from AP to GL

0 Answers   Accenture,

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how intangible assets are entered in B/s. plz send me the answer of this question in my e-mailid-prabhatsingh873@gmail.com

0 Answers   State Bank Of India SBI,

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Sums on Finalization of Accounts give exaple?

1 Answers   EDS, TCS,

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At the time of advance tds deducted 2% contract which was wrong but when we adjusting the adavace tds deducting 10% rent how can we adjusting that amount

0 Answers  

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what is Cost of Goods Sold give example?

3 Answers   EDS,

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Can you name any other accounting application?

0 Answers  

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