Provision entry for current Year Income Tax A/c ----Dr To Income Tax Payable A/c Adjustment entry in next Year Income tax payable---Dr To bank A/c kindly tell me which head of income tax a/c and income tax payble a/c

1797

What is accounting transaction?

1069

If closing stock is given in adjustments, how we show in tally 9.0 ?

2073

What are the steps involved in converting the trail balance of a foreign branch? Explain the steps involved in incorporating the foreign branch trail balance in HO books

2283

what are the disadvantages of back-flush accounting?

1103

Define "book value" as applied to accounting

1085

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.

4233

Tell me under the accrual basis of accounting, when revenues are reported in the accounting period?

4050

I have deducted Notice pay Rs. 5000/- in which account to be booked the same enty, what is the head for notice pay in profit and loss a/c.

2056

distinquish between liquidity ratio and asset management ratio

2038

How good are you at Finance?

2151

How does accounting contribute to the community?

1120

Should we give C form with Freight, Insurance, P&F after CST?

3897

what is mean by ledger

3922

what's the difference between impress cash account and petty cash account

1750