Answer Posted / prem

There are three typea of account
1 personal account Debit the recievr creadit the giver
eg ram a/c sundar a/c company a/c

2 real acount debit whats comein and creadit what
goesout

eg furniture a/c goodwil a/c
3 nominal account debit all expenses losses and creadit
all income and gains

eg wages a/c commison a/c

Short Answer on ________Ad-Valorem Duties

1982

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While selling fertilisers can we charge VAT on excise duty.

1989

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You are given the following information in respect of a company: Fixed cost –Rs.13,000 Variable cost –Rs.14,000 Net profit –Rs.3,000 Net sales-Rs.30,000 Find out: a>BEP b>The profit for sales volume of Rs.50,000 c>The volume of sales to make a profit of Rs.10,000

1997

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is it possible that on dealer of work contract can opt composition and non-composition both scheme in dvat?

2047

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How to calculate closing stock? I have opening stock of 72 lacs (average costing without tax) and purchase of 49 lacs (with tax) and sales of 101 lacs (without tax). What is my closing stock then???? Should i add tax in sales? Where all should tax be included and where all should tax NOT be included? Right now i calculated => 72(no tax)+49(with tax)-101(no tax) = 20 lacs. IS this correct?

2370

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What si the differance between REVENUE and PROFIT?

1943

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hi this is sharath,from hassan ,karnataka.,., i am caled for t interv on 28th may 2009, 12 noon, at foll location.,. STATE BANK OF MYSORE STAFF TRAINING CENTRE 104/105 7TH MAIN ROAD JAYALAKSHMIPURAM MYSORE-570012. anybody who is also attendin the same interview please reply me .,.,. i am in my final yr BE EnC,MCE hassan, i wold like to know more about the interview .,., please do reply.,.,. yours friendly, sharath kumar, sharath.syss@gmail.com

2110

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how to maintain stock if any entry mismatch pllzz tell me short cut

1519

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sort out the difference between service provider & service reciepient from the service tax.

2061

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in case dedit balance of solvent partner and in case credit balance of insolvent partner what i do for accounting on dissolution of partnershio firm give me ans. as per garrner v/s murry rule

2582

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From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.

3020

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What is Provision for expenses?

2257

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The partners agreed to take hero honda vehicle of Rams as firms vehicle by giving credit to his capital account. The vehicle was valued for Rs 65000/-Pass necessary entry

2093

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What are the major responsibility's of an accountant? what are the qualities he /she requires?

2105

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Short Answer on ___________fluctuating capital

2032

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