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Question { 4020 }
As per which notification the service tax is fixed to 14.5%?
Answer
Its Effect After 14 Nov 2015.
we need to raise the Service Invoices as rated 14.5%
we need to show separately 14% & 0.5% in invoice.
*We cant claim .05% as input
*We need to pay what we collected .0.5% to Govt....
*same we can claim as expenses (Transfer to P&L a/c.
| Is This Answer Correct ? | 0 Yes | 0 No |
Question { 3721 }
Is bank charge an assest, equity or liability?
Answer
it will falls under "Indirect Expenses" at profit & Loss a/c
| Is This Answer Correct ? | 1 Yes | 0 No |
Question { 2809 }
what is the nature of expenses of a donation
Answer
| Is This Answer Correct ? | 0 Yes | 0 No |
Question { 3262 }
What do you mean by the word Loss in nominal accounting Give some examples
Answer
Rent paid,Salary paid,Commission paid.Etc........
| Is This Answer Correct ? | 0 Yes | 2 No |
Question { Satyaki Educational Academy, 2805 }
Transport expense were reimbursed by the supplier Pass journal entry
Answer
Transportation a/c Cr
| Is This Answer Correct ? | 2 Yes | 0 No |
Question { Government, 3504 }
What is Contra Voucher
Answer
While Transaction happens between
Cash b/w Bank
Cash B/w Cash
Bank b/w Bank
| Is This Answer Correct ? | 1 Yes | 0 No |
Question { 2838 }
Why Prepaid rent is treated as Personal Account?
Answer
| Is This Answer Correct ? | 1 Yes | 0 No |
Question { 10425 }
What is the journal entry for drawing money from bank for personal use?
Answer
To Bank A/c
(Being Cash withdrawn for Personal use)
| Is This Answer Correct ? | 1 Yes | 2 No |
Question { 3260 }
Is banks deduct TDS for my Fixed deposits? if yes what is calculations done per lakh.
Answer
If Exceed 10000 from interest on Fixed deposit , TDS Will attract 10% ,
We also submit the 15H/G as Non Taxable desecration Form then Bank will not deduct the TDS
| Is This Answer Correct ? | 0 Yes | 0 No |
Question { 3094 }
What is sweep account
Answer
But its difference from FD,
Sweep a/c whenever Main account balance will low automatically amount will transfer from sweep to Main Bank Account.
We can earn interest from sweep also in day terms.
| Is This Answer Correct ? | 0 Yes | 1 No |
Question { 3037 }
6- What do you mean by purchase merchandise; assets or expense?
Answer
Otherwise will consider as Expenses
| Is This Answer Correct ? | 1 Yes | 0 No |
