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Defects of single entry system
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Answer / sonali
This system does not track the assets and liabilities
account such as inventory, account receivable and account
payable.
It facilitates the calculation of income but not the
financial position. There is no direct linkage between the
income and the balancesheet.
Errors may go undetected and often are identified through
bank reconciliation statement
| Is This Answer Correct ? | 15 Yes | 1 No |
Do I need a waybill in the following case:- If I purchase (on bill) small quantity goods (like artificial jewelry) from one state (say Delhi) and transports it personally (say via flight) to other state (say West Bengal) along with my personal belongings and then I put them to sell through my boutique in that state. Do I need waybill? If yes, what will be the procedure? Do I need to pay entry tax at WB? What will be the procedure? Am I doing anything unlawful while transferring goods personally? Please give your advice. Regards, Manoj
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I am maintaing books of accounts a Software Co. Kindly advise me Account Head of these exps. (Software Exps.,Internet Exps., Video Exps.,Server Maint.Exps.,& SMS Exps.,) Thanks
Q1. Assuming that a firm pays tax at a 50 percent rate, compute the after tax cost of capital in the following cases: 1. A 8.5% preference share sold at per. 2. A perpetual bond sold at per, coupan rate of interest being 7per cent. 3. A ten year, 8 per cent, Rs. 1000 per bond sold at Rs. 950 less 4 percent underwriting commission.
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