Interested to Buy Any Domain ? << Click Here >> for more details...
Cash in hand-5000,Cash at bank-4000, Bill receivable-
3000,Bills payable-5000,Bank loan-6000.Calculate total
liability of the firm?
- 11 Answers
- 15684 Views
- ACS, I also Faced
- E-Mail Answers
Answer Posted / rohit bajaj
RS 11000 IS LIABILITY OF THE FIRM
| Is This Answer Correct ? | 51 Yes | 2 No |
Post New Answer View All Answers
Tell me what does the standard journal entry includes?
Which steps in Procurement to Pay process does FI documents get created.
What is Statory Books ?
Describe the proof of cash type of bank reconciliation?
Tell me what is gaap?
on the basis accounting,acounting is divided in to how many classes and what are they?
How to make a vat entry in books including setoff?
Is push down accounting accepted under generally accepted accounting standards?
How to pass workscontract sale invoice which includes WCT & VAT.
Explain me bills receivable?
How to calculate Gratuity & when it's applicable to employee after three years or Five years?...
WHAT IS THE LAST DATE OF HOUSE TAX SUBMITED , AND WHAT IS THE RATE OF HOUSE TAX ?WE PAID HOUSE TAX MCD OR ANY OTHER. PLEASE TELL ME.
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.
Under the accrual basis of accounting, when revenues are reported in the accounting period?
DIFFERNCE BETWEEN RESERVE AND FUND?
