Answer Posted / anu

Double Entry:
You've probably heard the saying, "Money doesn't grow on
trees." It means that money must come from somewhere---it
doesn't just "appear." Double-entry accounting is a method
of record-keeping that lets you track just where your money
comes from and where it goes.

Using double-entry means that money is never gained nor
lost---it is always transferred from somewhere (a source
account) to somewhere else (a destination account). In
GnuCash, this transfer is known as a transaction, and each
transaction requires at least two accounts.

Contra Entry:
Contra entry is journal entry.It will be effect in two books
one is cash book and another one is bank book.Now we will
be take cash deposit in bank and entry will be come like
this

Bank A/c dr ***
to cash A/c ****
(cash deposit in bank)
now here bank balance is increase and cash balances is
dicrease and it is effected in both books.

what is penaultimate sale

2051

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What are control ledgers?

1152

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if any otion in tallyerp9 version about doing Luxury tax work

2050

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Differentiate accounting and auditing?

1128

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Wo kya cheez hai jo sal me 1bar mahine me 2 bar aur hafte me 4 bar aur din me 6 bar ata hai?

6516

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x pay incentive to y with tds@10%.what is the journal entry in the books of x & y?

2178

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What is meant by partitioning?

1230

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What does a demo/presentation need to be effective?

946

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example wrongly financial statments showing vat refund (under Advances) for the finanical year 08-09 , but present assement year after assement by cto given vat refund more than ledger showing balance then decided to every month set off vat payable to vat refund(advance) but more than recoverd compare with company and cto then what is the entry to be take.

2195

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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).

2108

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In which book we can learn in detail of closing stock valuation. And if any site is available kindly help.

1875

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In which term & condition excise invoice raises & for what excise invoice raise?

1386

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bookkeeping, and accountancy,purchase procedure , Educational institutions ;, secretarial practices, Administratire and Academic rules and regulations in Government offices, Academic institutional , computer skils. etc

3084

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What is creative accounting?

1188

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How many invoices on average do you handle on a weekly/monthly basis?

1242

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