Answer Posted / anoop
its an intangible asset,
Ficticious assets are those assets that has no relizable or resale value, since good will has value when realized we can clearly say that its an intangible asset.
Intangible assets are those assets which cant be touched or felt but has value when realized.
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types of inventory
From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000 Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000 Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000 Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000
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4. Calculate the following from the particulars given below: i) Material Cost Variance ii) Material Price Variance iii) Material Usage Variance iv) Material Mix Variance v) Material Yield Variance Material Standard Actual Qty kgs. Price Rs Value Rs. Qty kgs. Price Rs Value Rs A 50 4 200 40 5 200 B 30 6 180 30 6 180 C 20 3 60 30 3 90 100 440 100 470 Loss 20 ----- 30 ----- 80 440 70 470
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Raj & Raj Ltd purchased a machinery on 01.01.1996 for Rs.88,000.The life of the machine estimated to be 5 Yrs.It was calculated that the old machinery would fetch Rs.8000 at the end of its useful life.it was decided to replace the machinery at the end of the 5th year by setting up depreciation fund and invest the annual depreciation (along with interest earned each year) in gilt edged securities carrying interest at 5% p.a. At the end of the 5th Year the securities were sold for Rs.9000.As per the sinking fund table Rs.14,478 is to be invested every year.A new machine was purchased on 01.01.2001 for Rs.1,00,000.pass the journal entries and show the ledger accounts
purchase car from toyota innova 50000 cheque from one firm and 449893 from other firm.... and 1350000 loan saction from kotak mahindra.....how can entry make with interest
