Interested to Buy Any Domain ? << Click Here >> for more details...
what is single entry system
- 1 Answers
- 4435 Views
- I also Faced
- E-Mail Answers
Answer / induja.l
Single entry of book keeping is systems were we record
revenue and expense in a single column, so that we will be
not knowing the actual profit and loss and financial position
of the business.
| Is This Answer Correct ? | 6 Yes | 0 No |
The following information is extracted from the audited books of accounts of a chain of food stores for the period ended 31st December 2015. Revenue Statement (Trading and Profit and Loss Account for the year ended 31st December 2015. BWP’000 BWP’000 Sales 460 Cost of good sold (220) Gross profit 240 Wages 50 Other expenses 30 (80) Net Profit 160 Note: The purchase figure included in the cost of goods sold of P255 000. Balance Sheet as at 31st December 2015 BWP’000 BWP’000 Fixed Assets 400 Current assets: Stock 80 Debtors (trade) 120 Bank 400 ----- [600] Current liabilities: Trade creditors 300 ------ [300] 300 Net Assets 700 ==== Financed by: Share capital 600 Revenue reserves 100 ------ 700 Shareholders Funds 700 ===== Required: (a) Calculate the following accounting ratios: (i) Current ratio (ii) Acid test ratio (iii) Stock turnover (in days) (iv) Debtors turnover (in days) (v) Creditors turnover (in days) (vi) Return on capital employed (ROCE) (vii) Gross profit percentage (viii) Net profit percentage (b). Give a brief comment on the performance of the company, based on the above ratios.
When we paid tds on rent how will journal entry will come and how to enter in tally software?
what is badts and its entries?
how many times we can deposit the old currency in one a/c in the bank
What is capital adequacy ratio? What is demat account?
what is MIS report? What is CMS report?
I paid internet charges for my firm.how to pass journal entries?
can be account payee cheque discounted from the bank of party?
What is meaning of Corporate Assessee & Non Corporate Assessee? Corporate Market & Non Corporate Market?
9 Answers Chartered Accountant, IBM, Tally Solutions,
how many types of currencies are there in oracle r12
what is a journal entery of goodwill?
15 Answers Capital IQ, Genpact, Sujana,
what is the balance sheet? And also tell me about the finanacial statement?
Audit 
