Answer Posted / rekha

Here journal entry we cont put, because in issuing a cheque
we are debiting the party a/c so it wont come in journal
entry, we in put in payment entry later will see that in
the bank reconcialization statement.

Explain howyou would account for the following items/situations,justifying answers by reference to the conceptual frameworks defintion and rcognition criteria. a)A trinket of sentimental value only b)You are the guarantor for your friends bank loan i) You have no reason to belive that your friend will default on the loan ii) As your friend is in serious financial dificulties,you think it is likely that he will default on the loan c)You receive 1000 shares in X Ltd,trading at $4 each,as a gift from a grateful client. d)The panoramic view of the coast from your cafes windows,which you are convinced attracts customers to your cafe

3948

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Expand-------SNAT

2059

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i AM CURRENTLY DOING B.COM. i INTEND TO PURSUE MY MASTERS AT USA IN ECONOMICS AND FINANCE OR ACCOUNTING...CAN U TELL ME THE CRITERIA AND WHICH EXAM DO I NEED TO QUALIFY FOR???

1998

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Clasify Loss

2159

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What is meant by advance ruling? What is the scheme of advance rulings?

2064

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drawings by making a DD from bank ( suppose payable towards UIT ) and on cancellation on such DD what journal entry needs to be passed ?

1527

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3. You are required to show the effect of each of the following changes on profit and Break-Even-Volume from the information given below: Sales 50,000 units Rs. 5.00 per unit Variable cost Rs. 3.00 per unit Fixed cost Rs. 70,000 Changes: (i) Price changes by 20%. (ii) Volume decreases to 40,000 units. (iii) Variable cost increases to Rs 3.50 per unit. (iv) Fixed cost decreases by 10%.

2237

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In SAP FICO How many ways we are Procuring the assets in the Company?

2718

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Short answer on Allowances

2022

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i m a student of icwai i have just passed out my foundation and i wanna no if i should go for both intermediate group together or not....

1915

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what is ZBA hold & balance hold in banking?

2333

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hdn Systems Pvt. Ltd., manufactures a consumer durable which passes through two processes M and N. From the following details prepare necessary process ledger accounts bringing out clearly the cost of the product at each stage. Process ‘M’ Process ‘N’ Materials (Rs.) 30,000 3,000 Labour (Rs.) 10,000 12,000 Overheads (Rs.) 7,000 8,600 Input (units) 20,000 17,500 Normal loss 10% 4% Scrap value of loss (per unit) Re. 1.00 Rs. 2.00 There is no opening or closing W-I-P or stock at processes. Final output from the process ‘N’ was 17,000 units

2228

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which are the basic princeples of accountancy... with examples

2225

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WHAT IS PROSPECTUS?

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Nature of training account with reason

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