Answer Posted / vishal parkhi

Loss by fire A/c Dr. 4000
Insurance claim A/c Dr. 6000
To goods destroyed by fire A/c 10,000
( loss is expenses =dr .insurance claim receive means cash receive . Cash comes in business = dr.
goods goes out into the business =cr.

Is it possible to change the accounting period under Indian GAAP from 1/Apr-31March to 1/January-31/December? There is any restriction in doing that, i mean for example for fisal purposes? Thank you all!

5294

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what is differnce between balance sheet of a bank & a company

1999

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pls let me know double entry of 'LEASING"

2031

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What are the advantages & disadvantages of double entry system?

1143

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Do you know company's payable cycle?

1047

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what is core accounting?

2264

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what do you consider to be the biggest challenge facing the accounting profession today?

914

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Explain financial accounting. What are its characteristic features?

1062

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In accounting equation what is the treatment of investment in shares??

1455

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When we received payment from creditors

1604

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is goods in transit will be liable for entry tax ?

1620

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director wife expenses which entry

1945

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I am a Leaving Cert Student. From Solutions to exam questions etc. I know what to do with the following adjustment but I cannot explain why. A thypical Adjustment is: A building is acquired for €60000 plus VAT at 10%. The amount paid to the Vendor was entered in the Buildings Account. No entry made in the VAT account. Could you explain why the VAT amount is deducted from the VAT amount in the TB? And why it is sometimes an Asset in the BS. Thank you, Mary

1784

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How Adjust The Amount Taken By Partners For Personal Use? Is The Entry For Drawings? Even If The Amt Exceed 5 Lakhs Or As Partners Loan If Its Not Recovered Even After 1 Year? Discribe All.

1770

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how to pass provision salary full and settlement(inclusive Bonus,Gratutity etc )please show me entry

4252

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