How we will dabit profit & Loss a/c in tally because profit & Loss a/c is tally generated a/c. we have to make provision for tax.

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Differentiate public and private accounting?

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The balance sheet prepared for a

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Explain what knowledge should financial accountant have?

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Sale of Rs.10000, where in 50% is on credit and there 10% discount on the immediete payment. Pass a journal entry for this

26 Answers   Accenture,

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A company primarily operating from own land, takes on rent building for staff quarters. Whether rent paid on such staff quarters qualifies as capital investment?

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capital is a assets but its shows in liability side. why?

11 Answers  

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if a sole proprietor pays his firms insurance policy , How it should treated in books of accounts? whether it should be treated as investment? or indirect expenses?or drawings?

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On January 20x2, the balances of ABC Ltd's provision of doubtful debt account was $1510. During the year, a total of 3750 of account recievable was written of as bad debts. The balance in the provision for doubtful debts account at 31st Dec was 1450. What is the total amount of bad debt recognised this year?

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How bank reconciliation statement is prepared

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1. During the current period, ABC Ltd sold 60,000 units of product at Rs. 30 per unit. At the beginning for the period, there were 10,000 units in inventory and ABC Ltd manufactured 50,000 units during the period. The manufacturing costs and selling and administrative expenses were as follows: Total cost Number of units Unit cost Rs. Rs. Beginning inventory: Direct materials 67,000 10,000 6.70 Direct labour 1,55,000 10,000 15.50 Variable factory overhead 18,000 10,000 1.80 Fixed factory overhead 20,000 10,000 2.00 Total 2,60,000 26.00 Current period costs: Direct materials 3,50,000 50,000 7.00 Direct labour 8,10,000 50,000 16.20 Variable factory overhead 90,000 50,000 1.80 Fixed factory overhead 1,00,000 50,000 2.00 Total 13,50,000 27.00 Selling and administrative expenses: Variable 65,000 Fixed 45,000 Total 1,10,000 Instructions: 1. Prepare an income statement based on the variable costing concept. 2. Prepare an income statement based on the absorption costing concept. 3. Give the reason for the difference in the amount of income from operations in 1 and 2.

3 Answers  

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We can Show Director Exp. in Limited Compay,

1 Answers   ABC, Texmo,

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