ravi shankar harjai


{ City } jaipur
< Country > india
* Profession *
User No # 47116
Total Questions Posted # 1
Total Answers Posted # 9

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Questions / { ravi shankar harjai }
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according to double entry system there are three types of account... so what is the nature of suspense account??

1 Accounting AllOther 4268




Answers / { ravi shankar harjai }

Question { 3121 }

what happens to each of the three financial statements when
working capital increases?


Answer

when the working capital increased the effect in trading
account was good sold....and in profit and loss account net
profit will increased.....and main important in balance
sheet The Cash in Hand Or at Bank in the hand of a
establishment......

Is This Answer Correct ?    0 Yes 1 No

Question { ICICI, 8892 }

what is debt equity ratio


Answer

in simple words debt equity ratio refers to comparing the
debt* with owner's equity**

debt
ratio of debt to equity -- -------
equity





*debt -- including the debantures,creditors,long term lones.
**equty -- including the equity shares,prefrences shares &
reserve and surplus..

Is This Answer Correct ?    7 Yes 0 No


Question { 3799 }

tell about bank entry


Answer

the bank entry just similer as double entry system but the
most of the accunt in banking companies are prepaid in
memorandum in nature........i.e.not basis on double
accounting system...ex.memorandum of bills collections....

or any establishment side it is simply followed by double
accounting system......

Is This Answer Correct ?    0 Yes 0 No

Question { Airtel, 13497 }

1)how will you check the expenses?


Answer

The cash book is the main socuce for chacking the expense
which are payed durring the year and also that expense which
are not paid in previous year but paid in current year....
but some expense which are not chaecked by the cash book or
pass book of a orgnisation like eg.like outstanding expenses...
for chaecking the outstanding expense ....\
using the complience procedur or third party confermation,
it is more realiable to chaecking a outstanding expense......

Is This Answer Correct ?    2 Yes 2 No

Question { 3768 }

how would be affected the B/L and P/L purchasing OF BRAND
NEW Motor vehicle


Answer

There are two way answer of this quation......
first----if a brand new car purchased for the personal use
i.e.(drawing)....
so there is no effecte on p&l account because it is
relatated with personl expense and in balance sheet,it is
less from the capital account...
Second----when it is purchase for business only so at time
of year ended deprecation will shown in p&l account and in
balance sheet assets willbe shown......

Is This Answer Correct ?    3 Yes 0 No

Question { 14851 }

difference b/w trading a/c & manufaturing a/c.


Answer

somehow there is no difference between the trading and
manufaturing account but the main purpose regarding
manufaturing account is calculating the cost per unit....
but in trading account there is no any purpose like cost per
unit of product .The purpose of preparing trading account is
calculating the profit before oprating expense....

Is This Answer Correct ?    23 Yes 6 No

Question { ACS, 22090 }

What will be the entry in book, stock get destroyed in fire
Of rs. 1, 00,000/- in two circumstances?


Answer

at the time when fire will occur...
Loss by fire a/c Dr 100000
To purchase a/c 100000

but if the fully or partly stock is insured,the following
will also be passed........

Insurance company a/c Dr [accepted claim amount]
P & L a/c Dr [not accepted amount]
To loss by fire a/c [total loss amount]

Is This Answer Correct ?    22 Yes 0 No

Question { IBM, 5951 }

what is mean by contra entry


Answer

when the a person send the cash from cash account to bank
account or vice-versa then the contra entry has been passed.

Is This Answer Correct ?    15 Yes 0 No

Question { 3863 }

I took printer from stock, previously I purchased this printer
for £60 plus Vat.
What entries do I need to put through the books?


Answer

if the stock of business used for personal purpose
then the following entrty has been made>>>>

Drawing A\c Dr
To Purchase A\c
(Being goods used for the personal purpose)

otherwise if the stock (printer) used for the business
purpose then alternative entry should be made>>>

Printer (Assets) A\c Dr
To Purchase A\c
(Being goods converted into Assets)

Is This Answer Correct ?    3 Yes 2 No