Un-Answered Questions { Accounting General }

The following transactions relating to ABC Ltd for the month of 20x1 a) Services performed in relation to income recieved in advance total $1500 b)Supplies expense includes $400 of supplies that are still on hand at 30 June c)Interest accrued on the bank loan is 750 d)At the end of june paid rent for 3 months (June, july Aug) $6000 e)Credit sales for the month of June 2009 amounted to $50000. Past expierence shows that around 1.5% of net credit sales are written off as bad debts. XYZ ltd, previously notified ABC ltd that they have gone bankrupt, will be able to pay $1000, which was recieved at the end of the month. The provision of doubtful debt has an opening balance of $800. f) The owners of ABC Ltd wish to revise the balance of the provision of doubtful debts account to $3500. g) Depreciation of one year on the delivary van is $1500. h) On 30 June 2009, ABC Ltd sold an item of equipment for $40000 cash. The cost of equipment was $50000 and had a accumulated depreciation balance of $2000 REQUIRED: Prepare the relevant adjusting journal entries for the month of June 20x2

1874


purchase of Rs 1000 were rejected and returned,however vendor returned Rs 800 and balance Rs 200 is charged to sundry exp A/c

4044


for giving the salary in terms of cash to an employee for what minimum amount revenue stamp is reqired to paste the vouceher? up to what limited revenue stamp is required?

2664


what is the process of cenvat credit taken in service tax( in direct & indirect service)

2719


sale cycle

1471


i am trying to set up a recurring reversing journal in Oracle GL, my problem is i have income balance of £30k that i only want to show 1/12th in a period over 12 months. can any one help me set it up . i want to show P01-13 opening balance £30k less £27500 P02-13 reverse P01-13 journal P02-13 opening balance £30k less £25000 etc. or does anyone know of another way it can be done automatically every month.

1824


hai everone,can anyone send me the accounting ,finance,general interview questions for mba freshers plz.....urjent

2227


When Tds is applicable to deduct and wht is rate for different work panel?

1457


what is the manual procedure for accounting

1437


There are two Business areas 1100 and 1200. I need to pick 1200 b.areaonly While enter the transaction? could any one please post the answer for this.

1477


What is use of subject history in banking?

2190


how to pass journal entries for reverse tax on input tax paid

2132


Sir, Now, i am purchasing ply wood, board, and other material for my office furniture. But now the furniture is incomplete so what would be the journal entry for this exp. in book.

1482


what is the right process for input credit of Service tax. and on which service i can take credit.

1357


WHAT ABOUT YOUR SELF IN ACCOUNTING SYSTEM

1626