Interested to Buy Any Domain ? << Click Here >> for more details...
When a business man take his net profit from his firm, how
will make the entry in cash book?
- 3 Answers
- 6293 Views
- I also Faced
- E-Mail Answers
Answer Posted / narasimha
drawing a/c dr
to cash a/c
being the amount take from profit for his personal use
purpose
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
How can you do credit control?
how to account branches in tally
Why Company maintain's books of account?
AL+w button lanunches the .............. installed web brower
how to pass entry in tally for Interest received on sweep credited to saving a/c? In what group it should be come
if no production is take place at the start of a process in royalty accounting what will be the accounting procedure for that.
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?
RPC Ltd. follows the written down value method of depreciating machinery year after year due to (a) Comparability. (b) Convenience. (c) Consistency. (d) All of the above
Cash bill of sale so the company can deduct the amount.
What is the basic accounting equation?
Tell me what is ledger?
The Tabula Manufacturing Company has been in business for one month. At the end of month the company had the following accounts: Materials used K 5 000.00 Direct labour 10 000.00 Indirect labour 3 000.00 Indirect materials 2 000.00 Labour fringe benefits 1 000.00 Supervisor’s salary 1 000.00 Depreciation Machinery 2 000.00 Miscellaneous factory overhead 1 000.00 Heat and light 500.00 Insurance on plant 1 500.00 The company processed two jobs during the month with costs as follows: Job 101 Job 102 Materials cost K3 000.00 K2 000.00 Direct labour cost K6 000.00 K4 000.00 Direct labour hours 4 000.00 3 000.00 Machine hours 2 000.00 1 000.00 The company does not use a predetermined rate for factory overhead. The rate is computed at the end of each month. Required Use both the direct labour hours and machine hours to compute: 1) The overhead rates for the month (5 pts) 2) The overhead cost for each job (5pts) 3) The total cost for each job (10 pts) 4) Briefly describe the difference between Job order and process costing, citing relevant examples (5 pts).
What are its characteristic features of financial accounting?
At the time of advance tds deducted 2% contract which was wrong but when we adjusting the adavace tds deducting 10% rent how can we adjusting that amount
Tell me do you possess any knowledge about accounting standards?
