Answer / megha

cap exp means expenditure on items for long term basis and
revenue expenditure is the expenditure on items used on
daily basis

Answer / shubha

Capital Expenditure is non-recuring exp, ie the benifits of
such expenditure is not only reaped in the accounting period
in which it is incurred, but also in the subsequent
accounting period.
Revenue expenditure is recurring expenditure. The benifits
of such expenditure is reaped in the same accounting period
in which it is incurred.

Alex’s Trial Balance at 31 December 2015 Dr (BWP) Cr (BWP) Capital 18 240 Bank overdraft 3 000 Fixtures and fittings 14 100 Provision for depreciation-fixtures and fittings 8 800 Inventory 14 200 Trade receivables 12 300 Trade payables 9 900 Revenue 110 000 Purchases 51 000 Discount received 1 800 Wages and salaries 26 000 Sundry expenses 34 000 Discount allowed 620 217 540 ======= 86 420 ======== Required: i Prepare the corrected trial balance at 31 December 2015. (7 marks) ii Show any difference you find as a balance on an appropriate account.

0 Answers  

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1.Closing Inventory consists of 1,100 units. What would be the cost of Closing Inventory under FIFO and LIFO methods? Opening Inventory 1000 units @ $ 10 $ 10,000 Purchase (1) 800 units @ $ 11 $ 8,800 Purchase (2) 500 units @ $ 14 $ 7,000 Purchase (3) 400 units @ $ 12 $ 4,800 Purchase (4) 300 units @ $ 13 $ 3,900 ------------ ----------- Totals 3000 units $ 34,500 ======= ======

1 Answers  

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What is departmental accounting? Give an example

0 Answers  

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v, An amount spent for inaguration of new factory building is A, revenue expenditure B, capital expenditure c, prepaid expenditure d, none of the above

1 Answers  

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pl. tel me what is the entry for this transaction 1)i deposited rs.10,000 t/w. dealer ship deposit 2)the goodwill amount 1 lakh brought by raju was appoprtioned and paid to the existing parteners eswar,mahesh,ravi as per their sharing ratios 38% , 24%, 38%

1 Answers  

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i purchase one computer @Rs.30,000 i issued PDC's then when i enter all pdc's in tally at a time or any other pls. tell me

3 Answers  

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Credit purchase entry

10 Answers   Ernst Young, FIC,

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what is representative personal accounts?? explain with examples...

11 Answers   Capital IQ, TATA,

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commision of rs-150 paid but charged to interest account,journal entry

1 Answers   TATA,

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What is accrual accounting?

0 Answers  

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i want to know about VAT & CST (inculding its Form No.)

5 Answers   Sumeet,

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How to adjust bank charges in bank od a/c?

0 Answers  

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