Answer Posted / ameet narayankhedkar

In financial accounting, a balance sheet or statement of
financial position is a summary of the financial balances of
a sole proprietorship, a business partnership, a corporation
or other business organization, such as an LLC or an LLP.
Assets, liabilities and ownership equity are listed as of a
specific date, such as the end of its financial year. A
balance sheet is often described as a "snapshot of a
company's financial condition". Of the four basic financial
statements, the balance sheet is the only statement which
applies to a single point in time of a business' calendar year.
A standard company balance sheet has three parts: assets,
liabilities and ownership equity

plz can some one tel me "The concept of stock holder's equity and paid in capital".

3543

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iam working with tally ERP.9,but iam dont prepared reconciliation,trial balance,profit&loss,balance sheet etc.bcoz all these activicties done in head office.plz give me citeria where iam prepared.

3025

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List out the stages of double entry system?

1080

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What is the difference between General Ledger and Ledger?

1432

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Please give me as example of service tax & Vat Posting through Tally.

2133

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if cheque bounced what we received from customers and payed to bank what entry should we create in single entry system

2014

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kindly send the TDS tariff on Security expenses, rents, transport charges etc.,

2014

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Explain what a deferred asset is and give an example?

1078

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You are using the accounts approach to parallel valuation and classic assets accounting. You need to create a new financial statement version to valuation based of IFRS principles. In asset accounting, what posting options can you choose for the new depreciation area? (any 2 answer) Area post in real time Area posts APC directly and depreciation periodically Area posts APC only directly Area posts APC and depreciation periodically

1521

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what is t code of gr/ir report?

2712

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contents of an invoice receipt? difference b/w statutory audit & internal audit? Where the bank book and the cash book will not reconcile? difference b/w income & expenditure a/c & p/l a/c? what is ERP? what is full form & the application of SAP? Why income statement prepared? What are the reasons where Balance sheet will not tally? How do you calculated Closing stock in the trading a/c? When will the cash book have a Credit balance? Why do you prepare p/l appropriation a/c? What are the 4 difference b/w public and private company? What do you mean by Contingent liability? Explain: Accrual Concept 1. Realisation concept? 2. Accounting concept?

2661

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What are the fictitious assets?

1080

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What is the marginal cost formula?

1117

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What is BRS Adjustment entry?

4199

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The following information is extracted from the audited books of accounts of a chain of food stores for the period ended 31st December 2015. Revenue Statement (Trading and Profit and Loss Account for the year ended 31st December 2015. BWP’000 BWP’000 Sales 460 Cost of good sold (220) Gross profit 240 Wages 50 Other expenses 30 (80) Net Profit 160 Note: The purchase figure included in the cost of goods sold of P255 000. Balance Sheet as at 31st December 2015 BWP’000 BWP’000 Fixed Assets 400 Current assets: Stock 80 Debtors (trade) 120 Bank 400 ----- [600] Current liabilities: Trade creditors 300 ------ [300] 300 Net Assets 700 ==== Financed by: Share capital 600 Revenue reserves 100 ------ 700 Shareholders Funds 700 ===== Required: (a) Calculate the following accounting ratios: (i) Current ratio (ii) Acid test ratio (iii) Stock turnover (in days) (iv) Debtors turnover (in days) (v) Creditors turnover (in days) (vi) Return on capital employed (ROCE) (vii) Gross profit percentage (viii) Net profit percentage (b). Give a brief comment on the performance of the company, based on the above ratios.

1690

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