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My firm got Rs.1,00,000/- as consultancy charge after deducting Rs.10,000/- as TDS. Now we have to pay Rs.15,000/- as Service Tax. Net effect we will receive only Rs.75,000/-. How can i account this.
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Answer / noor mohammad
Bank A/c Dr 90,000
TDS A/c Dr 10,000
to Sundry creditors A/c 100000
&
Service tax a/c 15000
bank a/c 15000
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Volga is a large manufacturing company in the private sector. In 2007 the company had a gross sale of Rs.980.2 crore. The other financial data for the company are given below: Items Rs. In crore Net worth 152.31 Borrowing 165.47 EBIT 43.17 Interest 34.39 Fixed cost (excluding interest) 118.23 Calculate: a. Debt equity ratio b. Operating leverage c. Financial leverage d. Combined leverage. Interpret your results and comment on the Volga’s debt policy
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