What is General Accounting
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Answer Posted / san surya
general accounting means inside and outside of all the business transations recorded in systamatic and informatic of accounting transactions
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(a) Rajesh Ltd. gives you the following information for the year ended 31st March, 2006: (i) Sales for the year Rs. 48, 00, 000. The Company sold goods for cash only. (ii) Cost of goods sold was 75% of sales. (iii) Closing inventory was higher than opening inventory by Rs.50,000. (iv) Trade creditors on 31.3.2006 exceed the outstanding on 31-3.2005 by Rs. 1, 00, 000. (v) Tax paid during the year amounts to Rs. 1, 50, 000. (vi) Amounts paid to Trade creditors during the year Rs. 35, 50, 000. (vii) Administrative and Selling expenses paid Rs. 3, 60, 000. (viii)One new machinery was acquired in December, 2005 for Rs. 6, 00, 000. (ix)Dividend paid during the year Rs. 1,20, 000. (x)Cash in hand and at Bank on 31.3.2006 Rs. 70, 000. (xi) Cash in hand and at Bank on 1. 4.2005 Rs. 50, 000. Prepare Cash Flow Statement for the year ended 31.3.2006 as per the prescribed Accounting Standard. (b) Define the teen "Operating Activities", "Investment Activities" and "Financing Activities" as per NA S-3 Send me this question answer in my mail Address please help me to how solve the question ( deepakgaire@gmail.com) plese plese
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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.
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