WATS THE GENERAL ENTRY FOR OUT STANDING SALARIES,AT PRESENT
FINANCIAL PERIOD & AT THE TIME OF PAYING THE CASH
- 3 Answers
- 4961 Views
- I also Faced
- E-Mail Answers
Answer Posted / sandeep
dear,
you should pass an journal accounting entry, that is.
salary accounts debit, and credit the salary payable
account. @ the time of payment debit the payable account.
hope u understand.
thanks
| Is This Answer Correct ? | 1 Yes | 1 No |
Post New Answer View All Answers
Give the balance sheet schedules ,what is differe tax, GIVE THE RATES OF DIFFERED TAX FOR THE YEAR 2008-09
CLASSIFY THE FOLLOWING INTO REAL,NOMINAL AND PERSONAL- 1.unpaid salaries a/c 2.arvind mills a/c 3.arvind mills shares a/c 4.prepaid rent a/c 5.fire insurance premium a/c 6.life insurance premium a/c 7.petty cash a/c 8.loan given a/c 9.interest received a/c 10.loan received a/c
please send me last 3 years question & solution
what is your achievements?
plz send me hsbs finance questions asked in the interview ans appitude also
How Many Points include in Mat Calculation , what is the different bitween Gross Profit & Book Profits?
2. You are required to prepare a Profit & Loss Account for the year ending 31st December, 2007 and the Balance Sheet on that date. The Trial Balance of XYZ Ltd. for the year ended 31st December 2007 is as follows:- Trial Balance of XYZ Ltd. as on 31st Dec. 2007 Debit Balances Rs. Credit Balances Rs. Materials used 3,50,000 Sales(including 2% Sales tax) 9,18,000 Cost of Labour 1,50,000 Sale of Scrap 100 Stock, finished and work in process on 31st December, 2006 50,000 Rent received 2,000 Wages : Factory Staff 15,000 Discounts 2,750 Directors Remuneration 50,000 Recovered against fire claim re : Stock 5,000 Salaries : Clerical Staff 75,000 Capital : Equity 25,000 Insurances : Workmen’s Compensation 1,500 Preference- 9% 8,000 General, fire etc. 2,000 Creditors 1,56,000 Directors’ Life Insurance 1,500 Provision for Taxation 1,05,000 Maintenance : Buildings 1,000 Profit & Loss Account 13,750 Plant and Machinery 12,500 Rent and Rates of premises and hire of plant 20,000 Heat, Light and Power 15,000 Experimental and Laboratory Expenses 10,000 Canteen Expenses 5,000 Staff Welfare expenses 2,500 Motor Expenses 12,500 Professional Charges 2,800 Postage and Telephone 3,500 Books, Printing and Stationery 11,000 Sundry expenses 10,000 Carriage and Packing on Sales 3,300 Discounts 5,000 Debtors 1,78,000 Freehold Property 50,000 Plant and Machinery 12,500 Fixtures and Fittings – Offices 3,500 Office machinery and Equipment 3,000 Motor Car and Van 6,500 Stock of materials on 31st Dec. 2007 1,20,000 Bank 38,000 Sales Tax Paid 15,000 12,35,600 12,35,600 Depreciation is to be provided at the following rates: Plant and Machinery 10% Fixture and Fittings 05% Office Machinery, etc. 10% Motor Vans and Cars 25% The stock of finished goods and work in progress as on 31st December, 2007 was Rs. 35,000. Provide for preference dividend and ordinary dividend at 10%. The total taxation liability is estimated at Rs.1,50,000 of which Rs. 75,000 relates to the current year. Debtors include Rs. 10,000 deposited as security against government contracts. The Works Manager is paid partly by salary and partly by a commission; he is entitled to a commission of 5% on the amount by which the surplus in the factory cost exceeds 20% of the sales for the period. Charge the commission if any in the Profit and Loss Account.
can anybody send me interview question&answer to me in accounts and finance and income tax....my mail.id...jagathis1986@gmail.com
What is the Accounts Payable & Accounts Receivable ?
Hi Iam Arun D. I m short listed for Karnatka bank interview. Can anybody share ur experiences regarding Bank interview of karnatka bank which was held on dec for Officer's post. Please help me I f u can. thanx in advance
Dear All, Please reply ASAP. I have an account with SBI and ICICI bank. I have mention the Authorised bank address of SBI in our Shipping bill and GR. But we have received the Payments in ICICI Bank. Please inform who are able to realise the Bank Realisation Certificate (BRC)ICICI or SBI. Can SBI are quolify for refuse for BRC Application. Please reply of this query on jani_janikalpesh@yahoo.com regards Kalpesh Jani 9978912950
Q5 Prepare a Balance sheet from the following particulars: Gross profit =Rs.80,000 Gross profit to cost of goods sold =1/3 Stock velocity =6 times Opening stock =Rs.36,000 Accounts receivable velocity =72 days (year=360 days) Current assets=Rs.1,50,000 Account payable velocity=90 days Bills receivable =Rs.20,000 Bills payable=Rs.5,000 Fixed assets turnover ratio (on cost of goods sod)=8 times
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%.
Please send the clerical exam questions and answers to my mail Id pinky18.02.1985@gmail.com
pl send me SBI previous question papers for clerical post to my email id :jahnavi_devi@yahoo.com
