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Accounting Interview Questions
Questions Answers Views Company eMail

Accounting basic rules with example relevant to day to day business

Wipro,

2 4818

For the assessment year 2011-12, ie., FY 2010-11, is there cess on TDS for Professional fees ?

3 5218

how to know which item is contingent liability? and why it is not taken in treatment in final a/c....

1 4082

why we transfer wages and salary in trading a/c,and why we transfer salary and wages in p/l a/c?

2 18187

how to calculate tds on salary.if the 500 employee work in my company.so how calculate tds for each employee.

1 3824

how to reconccile account payable & account receivable.please provide best solution with example

1 4192

I have raised a Invoice of Rs. 78964 including service tax rs. 964 in month of April and service tax paid to Govt for April month/ We have voide this invoice in May'12 due to services cancelled by the customer, pls let me know can we adjust this paid service tax amount in our May service tax payable....and how to pass voide bill entry.....

1 3600

How to make balance sheet, please advise me in details... Thankx

1 4351

Calculate the current assets from the following information A>credit sales Rs.2,00,000 B>G.P.ratio 20% c>stock turnover 5 times. D>Current liabilities Rs.60,000 E>Quick ratio 0.75 Stock at the end Rs.5000 was more than the stock in the beginning.

1 3626

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

2067

Q A project cost Rs.6,00,000. It yields annually a profit of Rs.80,000. After depreciation of 12.5% p.a.but before tax of 50%.Calculate payback priod.

2394

Q5 Prepare a Balance sheet from the following particulars: Gross profit =Rs.80,000 Gross profit to cost of goods sold =1/3 Stock velocity =6 times Opening stock =Rs.36,000 Accounts receivable velocity =72 days (year=360 days) Current assets=Rs.1,50,000 Account payable velocity=90 days Bills receivable =Rs.20,000 Bills payable=Rs.5,000 Fixed assets turnover ratio (on cost of goods sod)=8 times

2360

For the production of 10,000 units the following are the budgeting expenses: Per Unit Rs. Direct materials 60 Direct labour 30 Variable overhead 25 Fixed overhead (Rs.1,50,000) 15 Selling expenses (10% fixed) 15 Variable expenses (direct) 5 Administrative expenses (Rs.50,000 fixed) 5 Distribution expenses (20% fixed) 5 Total cost of sales per unit 160 Prepare the flexible budget for the production of 6,000 , 7,000 ,and 8,000 units of production

3073

when we give to payment for contractor what entry pass with tds?

3 14855

how we pass commission entry when we give to other with tds ?

GFS,

1 3983


Un-Answered Questions { Accounting }

a person have to buy 2kg items out of 4 differnt price tag item i.e potatoo rs. 10 kg, onion rs. 5 kg , radish rs. 1 kg, and chilli rs. 1 kg in rs 10 how can he do

1347


In tally when accounts with inventory ,when working in units of measurement under this after creating unit ,if we want to change the unit due to some mistake why does the cursor does not stop in the decimal field? And why the used units do not get deleted in the alter section?

1931


What are the benefits ofparticipation in a depository?

2550


Explain about Fixed capital

2126


Explain what is balance sheet?

1135


My question is.. I Received the amount from party through the bank. example. 1. Actual received from party $1000 @ 32.70 = 32,700 baht(service charge included ) 2. Bank Charge 500 baht 3. Given the credit to pary $ 1000 @ 32.50 = 32,500 baht 4. and bank charge 500 debit on party account also. .... For the First three transacion on account bank account dr 32200 bank charge dr 500 party cr 32,500 ex. fluxation cr 200 how can treate the 4th transaction. thanks in advance

1911


what is groups and and ledgers in tally can you give why we need to prepare them

2574


EXPLAIN EACH SECTION PROVISIONS ON TDS?

1889


what is the Difference between Compound Sales and Deemed Sales?

2215


Anti Takeover policies

2134


How can i disable closing stock in trial balnce in tally?

2773


If the company acquires equipment prior to incorporation what are the accounting entries?

1671


what is the document spliting?

2162


We need to know is their any govt notification for VAT & Service both applicable for one item or single invoices

2280


what is use of cost category ? which type is useful in accounting work ? give answer with solid example because iam slow learner in accounting line.

1875