Answer / husen

if $198 owing by brass inst.ltd is to be written off then
journal entry should be with my calculation

it should to trs.to profit & loss a/c bec.it never be return
from party

Bad Debts a/c ----------Dr $198
To Brass Instrument LTd a/c $198

Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.

0 Answers  

---

What is Journal Entry for Provision for Leave Salary

4 Answers   Bescom, State Bank of Mysore SBM,

---

What accounting Treatment we should do while we received Amount Rs 39200 After deducting Tds 800 From Invoice Amount 40000. Kindly also explain for deducting Tds should be booked under which Head of Tally.

4 Answers  

---

Does paid up capital include Advace against Capital or Calls in Advance for calculating Networth of A company

0 Answers  

---

maximum bank permissable finance

3 Answers   Capital IQ,

---

mention five items that is commonly use when preparing trading and loss account

2 Answers  

---

What is the entry for Good will payment? (received money for Good will)

2 Answers  

---

what do you mean byrecoupment of shortworkings in royalty accounts

0 Answers  

---

We had billed to a Customer Rs. 50000/- he paid 45000 to us n not paying balance 5000/- how and where to enter Rs. 5000/- Is it bad debt...

1 Answers  

---

What are mis reports and how do you prepare it?

0 Answers  

---

What do you mean by Bank Reconciliation Statement(BRS)?

12 Answers   Syntel,

---

what is the difference between backup and restore in tally software pls tell me friends?

2 Answers  

---