I would like to know about work in progress, when we will
debit WIP under Asset a/c head in balance sheet, the credit
will be allocated under in which accounting head? whether
its under purchase a/c or income a/c ? expecting detail
explanation?
Answer Posted / shailesh
WIP is closing stock that why it is reflecting assets next
effect will on trading account credit sidt
Is This Answer Correct ? | 3 Yes | 0 No |
Post New Answer View All Answers
What is cost accountancy?
WHAT ABOUT YOUR SELF IN ACCOUNTING SYSTEM
Accounting for vc money in financials
How Can We Differ Horizental & Vertical Balace Sheet? Explain.
What is the meaning of scrap value in accounting?
A company primarily operating from own land, takes on rent building for staff quarters. Whether rent paid on such staff quarters qualifies as capital investment?
During execution of Works Contract,If Contractee(Customer) supply goods to contractor, then it should be shown in Invoice as deduction or no need to show in Invoice.
Role-specific management accountant job interview questions:
hai everone,can anyone send me the accounting ,finance,general interview questions for mba freshers plz.....urjent
calculations of pf
Mention your extra-curricular interests. Which do you actively pursue? How do you see these developing in the future?
Why is accuracy important in accounting?
describe any accounting process that you have developed or revised
give me examples of the accounting reports you have prepared
as per partnership deed, salary to working partner is rs 8000/ per month (96000 annually), suppose if i have book profit of rs 50000/ only,then what is the procedure to give salary