journelising the following? dpereciation of plant & machinery rs 30000/-

journelising the following?
dpereciation of plant & machinery rs 30000/-
interest accrued but not received Rs 15000/-
prepaid insurance Rs 10000/-
drawings of cash Rs 5000/-
withdrew goods for personnel use Rs 2000/-
what is cost centre?
How do you verify the correctness of material control
system?
How many directors are required at a minium for Private ltd
and public ltd companies?
How do you compute the following ratios?
current ratio
net profit ratio
gross profit ratio
debt service coverage ratio
sales turnover ratio

Question Posted / prajithapillai1

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journelising the following? dpereciation of plant & machinery rs 30000/- interest accrued but..

Answer / srikar.p

1)Depreciation a/c Dr 30,000/-
To Plant&Machinery a/c. 30,000/-

2)Accured Interest a/c. Dr. 15,000/-
Interest a/c. 15,000/-

3) Prepaid Insurance a/c. Dr. 10,000/-
Cash a/c. 10,000/-

4) Drawings a/c. Dr. 5,000/-
To Cash a/c. 5,000/-

5) Drawings a/c. Dr. 2,000/-
To Purchased a/c. 2,000/-
Current Rato = Current Assets/Current Liabilities
Net Profit Ratio= Net Profit/NetSales*100
Gorss Profit Ratio= Gross profit/Net Sales*100
Debt service = Credit Sales/Avg.Debtos
Sales T/O Ratio= Cost of Good sold/

Is This Answer Correct ?

2 Yes

0 No

journelising the following? dpereciation of plant & machinery rs 30000/- interest accrued but..

Answer / vadeendra

Depreciation A/c dr 30,000
to plant and machinery A/c 30,000

Accrued intrest A/c dr 15,000
to income A/c 15,000

Prepaid insurance A/c dr 10,000
to Expenses A/c 10,000

Drawings A/c dr 5000
to cash A/c 5,000

Drawings A/c dr 2000
to purchases A/c 2,000

Minimum members required to form a public company is 7 and
private company is 2.

current ratio = current assets/current liabilities

net profit ratio = (net profit after tax/net sales) *100

gross profit ratio = (gross profit/net sales) *100

debt service coverage ratio =
(profit before income and tax)/{Intrest+(principal
payment intrest) /(1 - tax rate)

I hope there is no ratio like sales turnover because turn
over ratios can be calculated on net sales only. if there is
any thing like that please let me know.

Is This Answer Correct ?

2 Yes

2 No

journelising the following? dpereciation of plant & machinery rs 30000/- interest accrued but..

Answer / jubeda

Depreciation a/c dr 30,000
To plant& machinery a/c 30000

profit & loss a/c dr. 15000
To interest accrued 15000

prepaid insurance a/c dr. 10000
To profit &loss a/c 10000

drawings a/c dr. 5000
To cash a/c 5000

drawings a/c dr. 2000
To goods a/c 2000