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Accounting Interview Questions
Questions Answers Views Company eMail

Is bank charge an assest, equity or liability? 

2 3788

Capital employed is Rs.5L. Goodwill is to be valued at 4yrs purchase of average super profit. Normal rate of return is 20%. years: 2006, 2007, 2008, 2009, 2010. net profits: 1,20,000; 1,50,000; 2,00,000; 2,50,000; 3,00,000 drawings: 60000; 72000; 84000; 96000; 108000 calculate goodwill

893

Is there Disqualification of Auditor u/s 139 of Companies Act 2013 if the auditor is indebted towards the company to be appointed as an auditor, if amount exceeds more than Rs.1000 as against the provision related to Companies Act, 1956 ?

1708

on 02/05/2013 issued a cheque to third eye ltd of Rs.14000/- in full and final settlement against the due on amount

1832

1)Why closing stock or stock always a positive balance is any reason for? 2)if i am working in IT company what is my Accrual?

Infosys,

1 3687

what is the nature of expenses of a donation

1 2866

what is the difference between directors capital and current a/c

1 2831

what is asset in accounting

Genpect,

4 5411

Describe the accounting principles

2 3307

I have a questions regarding booking transaction. what is I want to loan my company 10k transaction will be recorded as follows "CASH" 10k debit "Payable to partner" 10K as credit. So when I used company debit card for my personal use can I book this as a loan repayment? which means I will have to Debit account " Payable to Partner and credit "Cash"

1 2395

is advance against FD or RD is treated as NPA .if EMI is not in scheduled . or classification of npa as per day is is made from sanction date or last payment date of repayment . please suggest me

2257

What do you mean by the word Loss in nominal accounting Give some examples

2 3311

Transport expense were reimbursed by the supplier Pass journal entry

Satyaki Educational Academy,

1 2866

In the income statement we may get profit or loss but the name of the statement was Profit and Loss account Why it was so?

Satyaki Educational Academy,

1 2610

on what basis exchange rates are decided?

1 2961


Un-Answered Questions { Accounting }

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.

4232


what are voucher entries for EPF treatment in tally

2176


what is capital market and money market? what is primary market and secondary market?

2208


HOW CAN WE CONVERT IN CFT TO A ROUND LOG??

1891


if i the vendor is providing us some printing material & they issue a bill of printing with including Vat so what can i deduct TDS ?

2031


Short Answer on ______Amortization

2085


Assigning natural account to accounting seg. What will happen

2057


what is encumbrance?

387


What is a Balance Sheet & Profit & Loss Account?

1971


entry for cash received from debtors

1602


what is purchase tax in rajasthan.

2033


Tell me what is “deposit in transit”?

1064


can any one send me tally professional version link

1670


explain me what steps would you take to increase revenue for this company?

1033


Nike,Inc. has developed a variable-overhead rate of $10 per machine hour,and estimates fixed overhead $250,000 for production up to 100,000 units per year. If the production manager estimates 9,000 machine hours for the production of 90,000 units next year, what are estimated variable-overhead costs?

2266