Answer / madhulika2011

Accounting is the production of financial records about an organization. Accountancy generally produces financial statements that show in money terms the economic resources under the control of management, selecting information that is relevant and representing it faithfully. The principles of accountancy are applied to accounting, bookkeeping, and auditing.

While closing books for the year end, We had Closing stock which is inclusive of VAT(i.e Cost price + VAT), What is the treatment of this Closing Stock in the P&L and BS , is Closing Stock Shown Inclusive of VAT (ie. Cost price +VAT) or, without VAT (ie. Cost Price)

5 Answers  

---

bank jobs

0 Answers   Canara Bank,

---

Our company deposited an amount of 20000 as FD . After the maturity period we are not received any interest and the bank deducted 2938 amount as TDS from our interest and added the interest to the principle amount and renewed the FD. then what is the journal entry for the same.

2 Answers   Spice Telecom,

---

v, An amount spent for inaguration of new factory building is A, revenue expenditure B, capital expenditure c, prepaid expenditure d, none of the above

1 Answers  

---

15 methods of depreciation and its examples

2 Answers   IBM,

---

what are contingent liabilities?

4 Answers   HP,

---

Accounts Paybles & accounts Recivable are Real A/c , Personal or Nominal A/cs ?

9 Answers  

---

why we prepare our accounts of book and why do audit our accounts of book

2 Answers  

---

Mention what does the investment of personal assets by the owner will do?

0 Answers  

---

What is capital reserve and reserve capital?

3 Answers  

---

If i pay for general expense (and party provide me gst details) through credit card then how i can enter party details

0 Answers  

---

can u tell me what is the process of calculating closing stock?

4 Answers  

---