Answer Posted / mohd rayees

Tax assets : tax assets its consists that assets which come
under capital gain, ex : Jewellery (gold), Buildings etc.

Tax Liability : tax liability its mean we have to pay the
taxable amount are called tax liability. (Mohd Rayees,
cont : 9908841874)

Mr. A purchased a machinery costing Rs. 1,00,000 on 1st October, 2005. Transportation and installation charges were incurred amounting Rs. 10,000 and Rs. 4,000 respectively. Dismantling charges of the old machine in place of which new machine was purchased amounted Rs. 10,000. Market value of the machine was estimated at Rs. 1,20,000 on 31st March 2006. While finalising the annual accounts, A values the machinery at Rs. 1,20,000 in his books. Which of the following concepts was violated by A? (a) Cost concept (b) Matching concept (c) Realisation concept (d) Periodicity concept.

2030

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What does an accurate trial balance suggest?

1085

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What is the provision? What is the entry for provision?

1005

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whats difference between manufacturing account & cost account

2278

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How can you define departmental accounting?

1258

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How P/E ratio usefull to the different people?

2163

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What is the abbreviation for the accounting terms debit and credit?

997

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how to upload ledgers in excel or word document

1999

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Mention what are the rules for debit and credit for different accounts to increase the amount in your business accounts?

1070

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What is the difference between perpetual & periodic inventory system?

1046

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what role did you play in collections?

1168

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sir I heard from some body that he received more money than requested in an ATM.Is it possible, if yes what is the remedy ?

1938

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What are the effects when intangibles and tangible assests decrease

2137

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Explain dual aspect term in accounting?

1004

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Compare financial accounting and cost accounting.

1102

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