Answer / ahmed

prepaid means The payment is made in advance and will be booking expenses monthly basic.
for example prepaid expenses are rent insurance etc etc

accruals means the expenses for the present month will be effected to the next month

for example salary, electricity,telephone bills

what is the meaning of A/c

5 Answers   HP, Infosys,

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i dont know to calculate sales tax. how to calculate sale tax and what are basic procedure to calculation sale tax. i want basic procedure. any to know calculation of sales tax please send my mail. my id: rajendiranraje@gmail.com

1 Answers  

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I had this interview in 09. The interviewer kept on asking this question. Why do you want to join JP Morgan chase? can any1 give me a good answer...???

2 Answers   IBM, JPMorgan Chase,

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please explain all accounting concepts n conventions in detail

0 Answers   DA Vision,

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If A is Employee of the co. his salary is 100000 per month. tds is 20000 Rs. Professional tax is 200. then please tell me how to enter in Journal & payment vouchers in tally

9 Answers  

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where should the closing stock amt will effect in p & l & in b/s

8 Answers   Google,

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BRS

2 Answers   Akzonobel, BEL, Chartered Accountant,

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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  

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I have 3 units, can i vat returns all the three units only one vat form

2 Answers  

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IN ONE OF THE MAUNUFACTURING COMPANY, THE MANAGMENT WAS VERY MUCH INTERESTED TO INTRODUCE ERP(IT IS FOREIGN SOFTWARE)BASED ON SOME ATTRACTIVE FEATURES EXPLAINED BY THE ERP SOFT WARE COMPANY/AGENCY . THE ACCOUNTING STAFF ARE ALL CONVERCENT WITH TALLY ACCOUNTING PACKAGE(INDIAN ACCOUNTING METHOD). THEREFORE THEY WOULD LIKE TO KNOW THAT (I) WHAT ARE THE DIFFERENCE BETWEEN A TRIAL BALANCE FROM NORMAL TALLY ACCOUNTING AND ERP GENREATED TRIAL BALANCE (2) SINCE THE BOTH THE TRIAL BALANCE WILL BE HAVING DIFFEERENT DATAS HOW SOME ONE CAN MAKE A FINAL ACCOUNT SUCH AS TRADING A/C PROFIT & LOSS ACCOUNT AND BALANCE SHEET AS PER INDIAN COMPANIES ACT. THE TRIAL BALANCE AS PER ERP SHOW SOME COST OF PRODCUTION A/C, LABOUR/MATERIAL/VALUE VARIANCE A/C. SAY ALL THESE VARIANCE ARE CORRECT AND BASED ON THE ACTUAL TRANSACTION TAKEN PLACE, HOW SOMEONE CAN A FINAL ACCOUNT MEANT FOR INDIAN ACCOUNTING POLICY WHICH TO BE SUBMITTED TO VARIOUS GOVT BODIES? I AM TOTALLY CONFUSED

1 Answers  

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what is the difference between a company balance sheet and that of a bank?

2 Answers  

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what is Inward & outward remittances

1 Answers   ABC,

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