give 3 reasons why capital is referred to as a special liability

0 Answers   KCA University,

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Manoj & Mahavir joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Manoj 90000 Withdrawals of Mahavir 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.

3 Answers  

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define SOX

1 Answers   WNS,

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In 3 way match.....Order qty is 100 and received 90 and 10 got rejected. But the supplier sent an invoice for 100 qty. what are the steps we need to take in SAP. Whether we need to reject the invoice or process with the 90 qty .please explain with real time.

0 Answers   Genpact,

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In South Africa, the value added tax is administered by?

0 Answers  

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how to prepare balance sheet pls tell me?

2 Answers  

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Transport expense were reimbursed by the supplier Pass journal entry

1 Answers   Satyaki Educational Academy,

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Cheque in hand is current asset or fixed asset...?

3 Answers   VKS,

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Ledger

2 Answers   Bank Of America,

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what is withholding tax

3 Answers   Meru Cabs,

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describe any accounting process that you have developed or revised

0 Answers  

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when we can submit Form-C to the Sales Tax Dept. What is the period to issue Form-C to the supplier

0 Answers  

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