Answer Posted / h.r. sreepada bhagi
Calculation of Book Stock (Trading Company):
Opening Stock + Purchases - Purchase Returns - Cost of Goods
Sold = Closing Stock.
Calculation of Book Stock (Manufacturing Company):
Opening Stock + Purchases - Purchase Returns - Cost of
Materials used in manufacture = Closing Stock.
For finalisation of accounts & audit at the year end, take
physical stock & value it by applying unit rate to stock
quantity at cost or realisable value whichever is lower.
Generally there will be difference between the book value &
physical stock value & physical stock value arrived as above
should be taken in to P&L A/c & Balance Sheet.
| Is This Answer Correct ? | 33 Yes | 4 No |
Post New Answer View All Answers
WHAT IS ACCOUNTING HEAD FOR TRADE FINANCE? I HAVE PAID 49268 FOR TRADE FINANCE.WHERE SHOULD I TAKE IN TALLY
x pay incentive to y with tds@10%.what is the journal entry in the books of x & y?
DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in haryana. The company's sales in the year ending on 31st march 2007 were Rs.1000 million(Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of the company is 14 percent.The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30 million per annum. The plant can be sold for Rs.200 million: (a) The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annum installment of interest and repayment of principal. (b) A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: (1) Should the company expand its capacity? show the computation of NPV. (2) What is the annual installment of bank loan? (3) calculate the quarterly installment of the financial institution loan. (4) should the company borrow from the bank of from the financial institution?
If company invest Rs. 3,00,000 in Chit & Fund and later received with Profit Rs. 3,50,0000 = (Rs. 3,00,000 + 50,000 profit amount). Pls advise how to pass the profit amount...and in which head the profit amount goes
iam working with tally ERP.9,but iam dont prepared reconciliation,trial balance,profit&loss,balance sheet etc.bcoz all these activicties done in head office.plz give me citeria where iam prepared.
hi every one i just want to know the entry for bank charges dt 31.3.2016 which deducted on 02.04.2016 kindly help me thank you raj
Plant and machinery destroyed for 50000
My Brother is running a small business of Window glasses & Mirror etc. He needs Bank Loan (CC/OD Limit)against current account. So, I need a project report to apply CC Limit. Please Help me. My EMAIL ID is :- savichawla_1703@yahoo.co.in Kindly send the report to above ID ASAP. Thanks & Warm Regards Sarvpreet +919888669523
If A Company pays amount thru bank for a supplier deducting tds on behalf of B company. Accounting entries to be made in company A and B
Sales Invoice 50000/- fully profit , management want profit for this year should be appear in P&L A/c and B/S 25000/- only and remaining 25000/- profit retain for the next year What will be JV for this year and next year?- Thank you
Mohan sold goods on 1st sep 2009 for the rs 200000/- to sohan immediatly accepted a 3 month bill.on the due date sohan request for the renewal of the bill for further peirod of two month .mohan agree to pay interest @9% per annum to be inculuded in the new bill . determine the amount of new bill?
What is the difference in accounting and marketing and what is so different about them?
Define "book value" as applied to accounting
HOW CAN WE CONVERT IN CFT TO A ROUND LOG??
What is the difference between depreciation and amortization?
