Answer / rajan singh

A journal entry made at the end of the accounting period.
The closing entry is used to transfer data in the temporary
accounts to the permanent balance sheet or income statement
accounts.

Answer / sumitra

at the end of accounting period we pass closing entries in journal proper..such as transferring gross profit to p/l account etc

what is average due date ?

1 Answers  

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Accounting basic rules with example relevant to day to day business

2 Answers   Wipro,

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whether bills of exchnge can come under the category of reserves and surplus

0 Answers   Iyer Coaching Centre,

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What is the definition of manual accounting?

0 Answers  

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How P/E ratio usefull to the different people?

0 Answers   Capital IQ, Reliance,

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Suppose a person is paid @ Rs.1 Lac Per Month for 2 months by the Owner/Director prior to the Company's incorporation for Managerial work and that person continues to work with the Company . Is the Director liable to deduct TDS on his Employee's Salary before incorporation also? And when the Company is incorporated after 2 months, Is it possible to show this expenses as Pre-incorporation Expenses?.What would be treatment for Salary Paid and TDS Deducted when the Company is incorporated? How will we give TDS Certificate to the Employee at the end of the Financial Year?

1 Answers   TCS,

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Value added tax is an expense to be suffered by?

1 Answers  

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can u tell me what is the process of calculating closing stock?

4 Answers  

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I have 3 units, can i vat returns all the three units only one vat form

2 Answers  

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what will be the entry of income tax paid in partnership firm.

3 Answers  

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i am working in construction company.we have more then one projects.i enter attendance in payroll projectwise.i want salaries in projectwise not overall in payroll autofill. thankyou sir

0 Answers   IDEAL Detonators,

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interest on drawing will fall under which group in tally?

5 Answers  

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