Answer Posted / m.surendhar reddy

personal account - name of the person & company.
real account - all assets and liabilities
nominal account - expenses,losses,incomes & gains

hdn Systems Pvt. Ltd., manufactures a consumer durable which passes through two processes M and N. From the following details prepare necessary process ledger accounts bringing out clearly the cost of the product at each stage. Process ‘M’ Process ‘N’ Materials (Rs.) 30,000 3,000 Labour (Rs.) 10,000 12,000 Overheads (Rs.) 7,000 8,600 Input (units) 20,000 17,500 Normal loss 10% 4% Scrap value of loss (per unit) Re. 1.00 Rs. 2.00 There is no opening or closing W-I-P or stock at processes. Final output from the process ‘N’ was 17,000 units

2166

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What is Compliance?

2127

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Define Payee

2106

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What is the process of VAT & CST Registration?

2500

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Is commodities transaction tax a permissible business expenditure? Explain

2201

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Short Answer on ______Budget

1935

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What is the difference between Balance Sheet , Chart Of Accounts and trial Balance?

2859

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is indian bank or canara bank CBS brach?

2086

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describe how accuracy in trial balance is a prime objective for preparing the financial statements?

2015

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what is a meaning of track record in tally software when we maintain the inventory entry what is role of track record

2237

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what is investment banking

1971

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how many schedules are there in accounting?

2209

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distinguish between Bill of Exchange and Promissory Note

2298

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differences between liabilities and assessts

4304

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Suppose My received Interest Income is 24934.59 And for the same time my Bank Charge total is 7785.19. Now the total Bank Charge will be deducted from Interest Income and the amount of (24934.59-7785.19)=17149.40 will be withdrawn to deposit in govt. Account.What will be the Journal Entry for 17149.40. Here, Already Bank Charge 7785.40 is Already Debited and 24934.59 is already credited in Journal.

1362

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