Answer Posted / mahesh

There are three basic rules in accounting

Real Account: what comes in--Dr
what goes out-----Cr

Personal Account:the receiver--Dr
the giver--------Cr

Nominal Account: All expenses and losses--Dr
All income and gains-------Cr

Explain howyou would account for the following items/situations,justifying answers by reference to the conceptual frameworks defintion and rcognition criteria. a)A trinket of sentimental value only b)You are the guarantor for your friends bank loan i) You have no reason to belive that your friend will default on the loan ii) As your friend is in serious financial dificulties,you think it is likely that he will default on the loan c)You receive 1000 shares in X Ltd,trading at $4 each,as a gift from a grateful client. d)The panoramic view of the coast from your cafes windows,which you are convinced attracts customers to your cafe

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Why does one need a broker?

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Hi...At present am doing my second year B.Com.I want to do Chartered accountant.Could you send me the details such as when i can start this course,levels of course,proceudre to start( training and prerequirement if any)?And also do let me know is it possible to start from madurai.Note: I wanted to start by regular classes not by distant education. Thanks in avance.

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WHAT IS PROSPECTUS?

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What is Compliance?

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Give me the asset revaluation (at the time of asset value increase & decrease) journal entrys?

1675

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Two months rent of Rs 25000/- was adjusted in Rental advance account at the time vacating office

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I am going to attend an interview for the post of jr. Accounts Officer in airport authority of india,pls help me to prepare for the interview??

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closing stock at the end is comprised of %a purchase price of $60000,10% discount and 15% import duty.The stock can be sold for $70000 after incurring costs of $1950.Included in the purchase price is abnormal wastage of $2000.Transportation costs are $1000 and storage costs are $500,what is the value of the closing stock?

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after payment of interest of a loan account by using credit note voucher in tally 9........don't anyone thinks that we have to adjust the cash account by passing cr entry on journal for interest payment...

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whether unsecured loans written off can be transferred directly to capital reserve without crediting it to profit and loss account

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I am maintaing books of accounts a Software Co. Kindly advise me Account Head of these exps. (Software Exps.,Internet Exps., Video Exps.,Server Maint.Exps.,& SMS Exps.,) Thanks

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we are in contraction business, we purchase raw material and paid tax on related material, suppose we want to bill to our party in WCT?

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hi.this krishan .i m slect in axis bank for executive. when i sposse to join

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Enter the following in the petty cash book, using appropriate expenditure column headings. the book is kept in the the amount of imprest system. the amount of imprest is #40,000

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