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Answer Posted / sri
Credit Note means sales return
Debit Note means purchase return
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what is mean by account concept,and how to perpare a full accounting concept journal,ledger,trail balance,and balance sheet how it will prepare in upto fainalaztion.
how we will prepare n file income tax returns for individuals?explain
From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
Ram retired from partnership. The partners with mutual consent agreed to put the capital balance as on the date of retirement as loan to the firm @ 18% pa. The credit balance to his capital account was Rs 325000/- Pass necessary entry
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Apportion Nett profit of rs 325600 among the partners A,B,C and D as per sharing ratios of 26%,13%,32% and the balance to D.Pass journal entry
Short Answer on ______Transaction
Upto what age PF will be deducted for an employee? And what age he is eligible to gratuity?
Why does one need a broker?
outstanding expenses are the expenses that "unpaid"at the end of the accounting period e.g.salaries rent so they all come to under nominal accounts which is debt all expenses and losses and credit all gains since they are unpaid hence they must be credited
Define Salry for the following purpose 1.To calculate HRA
I've just started to work as an accounts executive and intending to take up SAP. Can anyone tell me what are the preparations required for me as an accountant to be a successful SAP consultant.
What is invoice accounting rules?
