purchasing of software more than Rs.8000/- will be treated as
expense or assets
Answer Posted / guest
expense
Is This Answer Correct ? | 2 Yes | 3 No |
Post New Answer View All Answers
A firm had the following Balances on 1 January 1994: (i) Provision for bad and doubtful debts Rs 2,500 (ii) Provision for discounts on debtors Rs 1,200 (iii) Provision for discounts on creditors Rs 1,000 During the year, bad debts amounted to Rs 2,000, discounts allowed were Rs 100 and discounts received were Rs 200. During 1995 bad debts amounting to Rs l,000 were written off while discounts allowed and received were Rs 2,000 and Rs 5,000 respectively. Total debtors on 31 December, 1995 were Rs 48,000 before writing off bad debts, but after allowing discounts. On 31 December, 1995, this amount was Rs 19,000 after writing off the bad debts, but before allowing discounts. Total creditors on these two dates were Rs 20,000 and Rs 25,000 respectively. It is the firm’s policy to maintain a provision of 5% against bad and doubtful debts and 2% for discount on debtors and a provisions of 3% for discount on creditors. Show the accounts relating to provisions on debtors and provisions on creditors for the year 1994 and 1995.
What is mutual fund what is derivatives what is capital market what is TDS.breifly
Tell us what do you believe should be an important quality of an account executive?
Dear sir , 1-what is diffrence local tax & vat 2 -what is sales tax. tds. service tax challan & return due date(monthly & quartly, annually) 3- what is deprecation rate in company act 4-what is income tax latest limit-
What is the difference between perpetual and periodic inventory systems?
Tell me what are things will not be included in bank reconciliation statement?
how calculate intrest on advance tax ? and penalty on vat?
Recall a time when you faced a dissatisfied and aggressive customer. How did you handle it?
How to make a entry in tally for Land & Building Purchased for RS.1,65,00,000/-(Total Consideration)Paid Installment wise as 30 lakh,10 lakh,20 lakh & 1,30,87,500
I post Optional Voucher in Tally.ERP in which there is deduction of TDS is applied. But when I convert this voucher as regular voucher the TDS entry have to make again why so
My boss said to me "Calculate Tds for the month of may 2018 from bank statement". my Boss business is Proprietorship of Construction and designing work. How I can calculate Tds liability.
we have registered to MCCIA(Maratta Chember of Commerce Ind & Agri.).They given a Tax Invoice against this registration with charging service tax@10.3%.can we take credit of this service charge ?
What is peach tree accounting?
what is the meaning of written-off as goodwill written-off
Did you use accounting applications at your previous companies or prefer working manually??