Answer / atul kumar pandey

1 entry- stock lost by fire a/c dr.
to purchase a/c

2- entry- profit & loss a/c dr.
to lose by fire.

Answer / mohammed fareed

Journal Entry

Abnormal loss a/c   Dr      230
  To  Stock account               230

next entry

Profit and Loss a/c   Dr      230
    To Abnormal loss a/c           230

9. Fixed Cost assumed to be $ 2,700. Variable Cost is $ 70 per unit. Selling Price is $ 100 per unit. What would be the Breakeven Point in Units?

1 Answers  

---

All Interview related Questions pertaining to General Ledger,Finance & Accounts.

0 Answers  

---

Furniture is Destroyed in Fire ?? Where it will effect in Balance sheet ??

6 Answers   Focus,

---

salary payable deduct tds entry

0 Answers   Matrix Adhesive Incorporation,

---

What is step by step procedure to file e-tds quarterly teturn ?

0 Answers  

---

what is depreciation?

5 Answers  

---

What is the marginal cost formula?

0 Answers  

---

I have faced so many interview in top compinies and I have been asked, why are looking for change or why you want to leave your current employer or give the reason to leave the current company. So could you please advice what should be answer on these question, as i have been rejected so many time due these question.

4 Answers   Accenture, CIO Review,

---

How can we explain what is an asset, consumable, stock, store item ? What are the essential differences?

2 Answers  

---

Original cost = Rs 1,26,000. Salvage value = 6,000. Useful Life = 6 years. Annual depreciation under SLM will be (a) Rs.21,000 (b) Rs.20,000 (c) Rs.15,000 (d) Rs.14,000

3 Answers  

---

The following transactions relating to ABC Ltd for the month of 20x1 a) Services performed in relation to income recieved in advance total $1500 b)Supplies expense includes $400 of supplies that are still on hand at 30 June c)Interest accrued on the bank loan is 750 d)At the end of june paid rent for 3 months (June, july Aug) $6000 e)Credit sales for the month of June 2009 amounted to $50000. Past expierence shows that around 1.5% of net credit sales are written off as bad debts. XYZ ltd, previously notified ABC ltd that they have gone bankrupt, will be able to pay $1000, which was recieved at the end of the month. The provision of doubtful debt has an opening balance of $800. f) The owners of ABC Ltd wish to revise the balance of the provision of doubtful debts account to $3500. g) Depreciation of one year on the delivary van is $1500. h) On 30 June 2009, ABC Ltd sold an item of equipment for $40000 cash. The cost of equipment was $50000 and had a accumulated depreciation balance of $2000 REQUIRED: Prepare the relevant adjusting journal entries for the month of June 20x2

0 Answers  

---

WRITE ABOUT ANY 1 "WOMENS ARE BEST MANAGEMENT PERSON" "IF UR FINANCE MINISTER OF INDIA" "V R RESPONSIBLE FOR OUR ENVIRONMENT"

0 Answers   Ernst Young,

---