omprakash


{ City } delhi
< Country > india
* Profession * accountant
User No # 39099
Total Questions Posted # 0
Total Answers Posted # 5

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Questions / { omprakash }
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Answers / { omprakash }

Question { Genpact, 20097 }

Mac Purchased on 15th Jan 12000/-
30th June Machinery damaged due to Fire Accident
31st Dec received the Insurance Premium 13000/-.
Pass the Journal Entry for all the above three


Answer

At the time of purchase of Assets
Machinery Dr 12000
To cash / Bank / party 12000
( 15 Jan)

30 june
Loss by fire Accident 12000
TO Machinery 12000

30 june Insurance claim of Machinery 12000
To loss by Fire Accident 12000

31 dec

Bank 13000
To Insurance claim of Machinery 12000
To Other Income 1000

Is This Answer Correct ?    0 Yes 0 No

Question { 5706 }

when we file Vat audit report


Answer

28 th jan of next year

Is This Answer Correct ?    4 Yes 1 No


Question { 5576 }

CAN MINOR GET PAN AND FILE THE RETURN?


Answer

yes a minor can get pan no and file a return and his income
will be included his/ her parents income ( mean whoever
gets the lower amount of his/ her Income and the person
withwhom the minor will be included will be liable to get a
dedutction of rS 1500

Is This Answer Correct ?    8 Yes 5 No

Question { 5576 }

CAN MINOR GET PAN AND FILE THE RETURN?


Answer

no a minor can not file a return but his / her income will
be included in the income of his/ her parents income whoever
is getting low income from other one and with whom the
minor income will be included will be eligible to get a
deduction of Rs 1500 yearly bais

Is This Answer Correct ?    4 Yes 1 No

Question { Genpact, 16064 }

On goods purchases of Rs.2,00,000 got trade discount of
20,000 from supplier, and the amounts paid to supplier is
1,00,000 in cash and RS.1,00,000 in check on the same day,
what would be the general ledger entry ?


Answer

To all gys that trade Discount not shown is books only cash
discount is showed in the books

The entry will

Purchase A/c 180000/-
To Supplier 180000/-
( at the time of Purchase )

Supplier 200000
TO cash 100000
To Bank 100000
( at the of payment )

Now your creditors has become your Debtors having on account
balance of Rs 20000/-

Is This Answer Correct ?    1 Yes 6 No