If you are making a transaction of Cash Purchase on 30th
March and your accounting period ends on 31st March. Does it
affect the Current Asset of the Company?
Answer Posted / ram
NO,it doesn't effect current assets,because once cash
purchase is done,cash balance will be reduced as well as
inventory balance will be increased. (i.e net effect of
current assets remain unchanged).
Is This Answer Correct ? | 16 Yes | 0 No |
Post New Answer View All Answers
i have working in contruction company i want billing outside delhi pls. tell me can i bill with tax invoice party provide tin no.
what are the different kinds of cash books
you buy a $100 asset. $25 cash, $50 debt, and $25 new equity. Explain how the 3 financial statements (IS, BS, CFS) will change.
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.
What is the difference between Deffered Tax Assets & Deffered Tax Liabilities
how many types of practice accounts?
pl send me SBI previous question papers for clerical post to my email id :jahnavi_devi@yahoo.com
What was use of tally erp 9? Types of vat?
why should i hire you? what are your outside interest? what was your toughest decision you ever have to make?
Short Answer on __________Event
HOW MANY ACCOUNTING STANDARDS ARE PREVAILING IN INDIA AS DECLARED BY ICAI
how MIS statements used in accounts receivables n payables? n what is the advantage of this reports?
How can I find out my credit rating score for free?
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
what is the document spliting?