Interested to Buy Any Domain ? << Click Here >> for more details...
Rent Paid Rs.12000/- (which is included for the whole year
i.e Jan to Dec) and they have asked me to give Journal
Entry for the
Entry for the Month of Jan, Feb and March
- 34 Answers
- 55345 Views
- Accenture, Genpact, Mercer, I also Faced
- E-Mail Answers
Answer Posted / seshagiri
ACTUALLY WE FALLOW THE FINANCIAL YEAR APRIL TO MARCH. IN
THIS QUESTION MENTIONED JANUARY TO DECEMBER MEANS JANUARY
TO MARCH IS PREVIOUS YEAR. SO WE PASS THE OUTSTANDING ENTYR
TO EACH MONTH.
31ST JAN
RENT ACCOUNT ......DR. 1000
TO. OUTSTANDING EXP A/C 1000
28TH FEB
RENT ACCOUNT ......DR. 1000
TO. OUTSTANDING EXP A/C 1000
31ST MARCH
RENT ACCOUNT ......DR. 1000
TO. OUTSTANDING EXP A/C 1000
THE FINANCIAL YEAR ENDING THE OUTSTANDING EXP A/C IS 3000/-
IN CURRENT FINANCIAL YEAR IS APRIL TO NOVEMBER IS
OUTSTANDING EXP IS 8000/- DECEMBER MONTH DEBITED TO
DIRECTLY RENT ACCOUNT
| Is This Answer Correct ? | 1 Yes | 1 No |
Post New Answer View All Answers
Received an order from Babu for the supply of goods Rs.200/-. state whether the the following transcation is business transcation or non business transcation? with reson or explaination?
what are the accounting ratios
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.
what is the meaning of input vat & out put vat?
What is Budgeted capital ?
give me only one transactions in both side (debit&credit) should be in real accounts
What is the quality of the accountant & rights ? hansika.kk@gmail.com
can any one tell me what kind of qns are asked in gail entrance test. i m apearing for the exam of accounts & finance. please let me know the ans on my id pragneshmall1@gmail.com
DEfine SAP
Hi any one send me the configuration steps for make to order and make to stock in sap .send to my mail id c.sujatha2008@gmail.com
how many types of practice accounts?
What is 100% EOu? what is the benifit and what is difficulty of it?
What's the meaning of Preferential Creditor?
Expand-------ASRT
What is meant by Nostro Reconciliation
