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A and V enter into a joint venture to sell a consignment of biscuits sharing profits and losses equally. A provides biscuits from stock Rs 10000. He pays expenses amounting to Rs 1000. V incurs further expenses on carriage Rs 1000. He receives cash for sales Rs 15000. He also takes over goods to the value of Rs 2000. The profit on joint venture is 7 (a) Rs.3000 (b) Rs.5000 (c) Rs.6000 (d) Rs.3500
2719X of Kolkata sends out goods costing 300,000 to Y of Mumbai at cost + 25%. Consignor’s expenses Rs 5000. 1/10th of the goods were lost in transit. Insurance claim received Rs 3000. The net loss on account of abnormal loss is (a) Rs.27,500 (b) Rs.25,500 (c) Rs.30.500 (d) Rs.27,000
2 7383X draws a bill on Y for Rs 20,000 for 3 months on 1.1.05. The bill is discounted with banker at a charge of Rs 100. At maturity the bill return dishonoured. In the books of X, for dishonour, the bank account will be credited by Rs. (a) 19,900 (b) 20,000 (c) 20,100 (d) 19,800
1 3582A and B are partners sharing profits and losses in the ratio of 3:2 having the capital of Rs. 80,000 and Rs. 50,000 respectively. They are entitled to 9% p.a. interest on capital before distributing the profits. During the year firm earned Rs. 7,800 after allowing interest on capital. Profits apportioned among A and B is (a) 4,680 and 3,120. (b) 4,800 and 3,000. (c) 5,000 and 2,800. (d) None of the above.
1 6869Is octroi duty by nature a tax you can pass on to the customer in your billing? how is it different than VAT?
3 5637We are running an educational institution in Karnataka,India. Is there any ceiling stating that if gross salary is upto this then only incentive or bonus can be paid?
Vini,
2108If any co. purchase goods from abc co. payment will made in advance. Can abc co. is creditor or not. Pls. answer.
1 3995
what would you contribute for bhels growth
Cost center 60500 in controlling area 1000 is locked for revenue postings on 31.03.2008.Now How can I Assign the account to another cost center or allow cost center 60500 to again accept revenue postings.
what is t code of journal voucher report with amount?
how to we pass a purchase entry in item invoice mode where some advance has been paid to the party. the purchase entry should get offset with the advance payment entry so that it does not appear in the bill outstanding or bills due list. please guide.thank you
How does a bank or financial institution calculate COGS? What are the 'direct' costs of a loan or deposit revenue operation?
what is a depository?
explain the special provisions for computing profit and gains of retail business
Explain what is accrual accounting?
How do you plan to achieve these goals?
In South Africa , the current rate for value added tax is ?
what is payment written
Accounting transactions are recorded in accordance with thier legal form or substance. Briefly explain the legal form and substance of the accounting transactions and give one relevant example.
What steps would you take before approving an invoice for payment?
WHAT WILL BE THE ACCOUNTING ENTRIES IN THE BOOKS IN CASE OF A COMPANY HAVING ITS SHARE CAPITAL WHEN A NEW COMPANY (LTD OR (P) LTD) IS FORMED ?
Tell me what are things will not be included in bank reconciliation statement?
