real account means

9 Answers   Infosys,

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What is finalization

3 Answers  

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what are the extraordinary items?

0 Answers  

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Mr. A purchased a machinery costing Rs. 1,00,000 on 1st October, 2005. Transportation and installation charges were incurred amounting Rs. 10,000 and Rs. 4,000 respectively. Dismantling charges of the old machine in place of which new machine was purchased amounted Rs. 10,000. Market value of the machine was estimated at Rs. 1,20,000 on 31st March 2006. While finalising the annual accounts, A values the machinery at Rs. 1,20,000 in his books. Which of the following concepts was violated by A? (a) Cost concept (b) Matching concept (c) Realisation concept (d) Periodicity concept.

0 Answers  

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What Is The Entry Of Partners Loan & In Which Voucher

2 Answers  

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From the following Trial Balance of Seema Garments as on 31st Dec., 2007, prepare Trading Profit and Loss Account and Balance Sheet: Dr. Rs. Cr. Rs. Opening Stock 15000 Purchases and Sales 109000 180000 Manufacturing Wages 8000 Fuel, Power and Lighting 12000 Salaries 11000 Income Tax 5500 Loan to Mr. X at 10% pa. 5000 Interest on Mr. X’s Loan 300 Apprentice Premium 4500 Rent 4000 Rent Owing 600 Furniture (includes furniture of Rs.1000 purchased on 1st July, 2007) 5000 B/R and B/P 6000 1600 Plant 72000 Debtors and Creditors 28000 13000 Capital 100000 Cash 19500 300000 300000 Informations: 1. Closing Stock was valued at Rs. 30,000. 2. Goodsworth Rs. 5000 was sold on 28th December, but no entry was passed to this effect. 3. Goods costing Rs. 7000 was purchased and included into Stock but no entry was passed to record the purchases. 4. Create a provision of 2% for discount on debtors. 5. Apprentice premium received on 1st January, 2007 was for 3 years. 6. Depreciate the furniture by 10% p.a. 7. Salaries for the month of December, 2007 are still outstanding.

2 Answers   Ignou,

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Please tell me what is the journal entry of closing balance ?

2 Answers   IBM,

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what is mean by debit purchase

5 Answers   Capital IQ, Lycatel, Micro Matic, MM,

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kanika enterprises follows the written down value method of depreciating machinery year after year due to: 1.comparability 2.convenience 3.consistency 4.all of the above

1 Answers   CPT, Infosys,

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what is bills receviables?

9 Answers  

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How do caculate goodwill of a company?

2 Answers   Genpact,

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what are the General Ledger (G L)Accounts?

3 Answers  

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