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Accounting Interview Questions
Questions Answers Views Company eMail

why the provision is created in profit and lose account

Wipro,

1 4521

what are hedge funds

Genpact,

1 7487

wat s brs?

Ford,

7 10148

Can anyone tell me that when we purchases a fixed asset like Machinery its our capital Expenditure and after acquetion of this assets the expenses like unloading loading, and some other parts for reparing purchase for this in which account i have to enter.

2 4572

i engaged with the accounts of manufacturing concern, i have a question when we purchased a fixed assets and after this we put the fuel in this for trial then this fuel is our also capital exp

2 3461

During the year a firm has received TDS of Rs.30 lakhs and out of this an amount of Rs.9 lakhs was adjusted against the taxes. However, in the balance sheet under the head assets,the firm shown Rs.30 lakhs towards TDS. Is it correct. In my openion, in the balance sheet, the assessee has to show only Rs.21 lakhs as asset in the balance sheet, after reducing the tax adjustemnt of Rs.9 lakhs. Pl. Clarify.

1 4030

What the journal entry pass for appreceation Fixes asset Dr Cash/Bank/Supplier Cr Is i m Wright

4 13178

What is the SAP Account?

Banking,

2252

What is the BPO/KPO/ITES Organisations?

Banking,

1 4883

Please tell me that whose are liable to pay the TDS?

Banking,

2 5481

IS METHODEX IS GOOD INSTITUTE FOR SAP FICO MODULE TRAINING. IS IT IN BANGALORE OY HYDERABAD.

TATA, Textiles,

2677

what is bank of america

Bank Of America,

1 5108

why your choseing bank of america

1 2872

what is the difference between sap and sas?

Royal Bank Of Scotland,

1 4039

what is the priliminary expenses

2 5170


Un-Answered Questions { Accounting }

plz send me the apptitude question papers of wipro

2152


Do you use social media to identify prospects?

1229


Can anyone mail journal entries for me? my Mail id rukmini@live.in

1983


how & on which amt tax should be calculate on pvt ltd company or ltd company

2399


2. You are required to prepare a Profit & Loss Account for the year ending 31st December, 2007 and the Balance Sheet on that date. The Trial Balance of XYZ Ltd. for the year ended 31st December 2007 is as follows:- Trial Balance of XYZ Ltd. as on 31st Dec. 2007 Debit Balances Rs. Credit Balances Rs. Materials used 3,50,000 Sales(including 2% Sales tax) 9,18,000 Cost of Labour 1,50,000 Sale of Scrap 100 Stock, finished and work in process on 31st December, 2006 50,000 Rent received 2,000 Wages : Factory Staff 15,000 Discounts 2,750 Directors Remuneration 50,000 Recovered against fire claim re : Stock 5,000 Salaries : Clerical Staff 75,000 Capital : Equity 25,000 Insurances : Workmen’s Compensation 1,500 Preference- 9% 8,000 General, fire etc. 2,000 Creditors 1,56,000 Directors’ Life Insurance 1,500 Provision for Taxation 1,05,000 Maintenance : Buildings 1,000 Profit & Loss Account 13,750 Plant and Machinery 12,500 Rent and Rates of premises and hire of plant 20,000 Heat, Light and Power 15,000 Experimental and Laboratory Expenses 10,000 Canteen Expenses 5,000 Staff Welfare expenses 2,500 Motor Expenses 12,500 Professional Charges 2,800 Postage and Telephone 3,500 Books, Printing and Stationery 11,000 Sundry expenses 10,000 Carriage and Packing on Sales 3,300 Discounts 5,000 Debtors 1,78,000 Freehold Property 50,000 Plant and Machinery 12,500 Fixtures and Fittings – Offices 3,500 Office machinery and Equipment 3,000 Motor Car and Van 6,500 Stock of materials on 31st Dec. 2007 1,20,000 Bank 38,000 Sales Tax Paid 15,000 12,35,600 12,35,600 Depreciation is to be provided at the following rates: Plant and Machinery 10% Fixture and Fittings 05% Office Machinery, etc. 10% Motor Vans and Cars 25% The stock of finished goods and work in progress as on 31st December, 2007 was Rs. 35,000. Provide for preference dividend and ordinary dividend at 10%. The total taxation liability is estimated at Rs.1,50,000 of which Rs. 75,000 relates to the current year. Debtors include Rs. 10,000 deposited as security against government contracts. The Works Manager is paid partly by salary and partly by a commission; he is entitled to a commission of 5% on the amount by which the surplus in the factory cost exceeds 20% of the sales for the period. Charge the commission if any in the Profit and Loss Account.

2317


You are given the following information in respect of a company: Fixed cost –Rs.13,000 Variable cost –Rs.14,000 Net profit –Rs.3,000 Net sales-Rs.30,000 Find out: a>BEP b>The profit for sales volume of Rs.50,000 c>The volume of sales to make a profit of Rs.10,000

2077


is there easy guide for the latest India tax & accounting information for 2010?

2082


You are required to show the effect of each of the following changes on profit and Break-Even-Volume from the information given below: Sales 50,000 units Rs. 5.00 per unit Variable cost Rs. 3.00 per unit Fixed cost Rs. 70,000 Changes: (i) Price changes by 20%. (ii) Volume decreases to 40,000 units. (iii) Variable cost increases to Rs 3.50 per unit. (iv) Fixed cost decreases by 10%.

2398


What is account payee cheque? Expand ctc cheque?

1258


Tell me about a situation where you showed determination?

1132


Calculate the missing figures for company A. A Sales (TSR) (a) Total Variable Costs (TVC) (b) Total Fixed Costs (TFC) $24,000.00 Profit $0.00 Units Sold 1,000.00 Contribution Margin Per Unit (CMU) (c) Contribution Margin Ratio (CMR) (d) Break-Even Point (BEP) (Units) (e) Break-Even Point (BEP) (Dollars) $60,000.00

2213


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

2490


Tell me which accounting application you prefer most and why?

1027


Do you have any professional experience in this field?

1100


Can u provided all the dues date and depositing date which are used in general manner or Income tax..

1793