Interested to Buy Any Domain ? << Click Here >> for more details...
mention five items that is commonly use when preparing
trading and loss account
- 2 Answers
- 4960 Views
- I also Faced
- E-Mail Answers
Answer Posted / v sakkthivel
Trading account
Opening Blanance/ Opening stock
Purchases
Puchase return
Sales
Sales return
Closing stock
Gross profit
Carriage inwards
carriage out wards
Profit and loss account
Wages
Salery
Disount
Insurance
bad debt
Reserve for bad debts
intrest
net profit
postage and stamps
telegrem charges
| Is This Answer Correct ? | 1 Yes | 1 No |
Post New Answer View All Answers
Can share warrants issued by the company be considered as potential equity shares? If yes, then will it be considered for calculating dilutive EPS?
2. A budgeted profit statement of a company working at 75% capacity is provided to you 2 below, Sales 9,000 units at Rs. 32 Rs. 2,88,000 Less: Direct materials Rs. 54,000 Direct wages 72,000 Production overhead: fixed 42,000 variable 18,000 1,86,000 Gross profit 1,02,000 Less: Administration, selling and distribution costs: fixed 36,000 varying with sales volume 27,000 63,000 Net profit 39,000 You are required to: (a) Calculate the breakeven point in units and in value. (b) It has been estimated that: (i) if the selling price per unit were reduced to Rs. 28, the increased demand would utilise 90% of the company's capacity without any additional advertising expenditure, and (ii) to attract sufficient demand to utilise full capacity would require a 15% reduction in the current selling price and a Rs. 5,000 special advertising campaign. You are required to present a statement showing the effect of the two alternatives compared with the original budget and to advise management which of the three possible plans ought to be adopted, i.e., the original budget plan or (i) above or (ii) above. (c) An independent market research study shows that by spending Rs. 15,000 on a special advertising campaign, the company could operate at full capacity and maintain the selling price at Rs. 32 per unit. You are required to: (i) Advise management whether this proposal should be adopted.
Accounting Questions
What is the use of accounting?
what is retention? how caculate on asset
what is a corporate chart of accounts and its purpose?
What is accounting ethics?
What are the elements of the accounting equation?
List of Indian accounting standards and international financial reporting standards
Which forms in use in service Tax, Excise duty and Vat for the return.
What is the rate of penalty charged when the given Vat Cheque dishonoured?
How can do it TDS in accounts?
Dear Sir I had already export to dubai. now I am to know that can I enter this sale entry in RG1. pls guide me.
Mention whether the account "cash" will be credited or debited when a company pays a bill?
what do you consider to be the biggest challenge facing the accounting profession today?
