Answer / sarika

dividend means??

A co which got huge profits will distribute those to the
share holders. it may be in the form of cash or stock.it
may be issued 4 times in a year(4 interims means once in a
quarter)according to percentage fixed by the board of
directors.

Answer / ravichandra

Hi,
Depreciation is a measuare of the wearing out, consumption
or other loss of a value of a depreciable asset arising from
use, effulaction of time and obsolvence.
Depreciation is a process of allocating the depreciable
asset of an its estimated life of the period.

BRS
Brs means Bank reconcilation statement. its to be prepared
to know the difference between cashbook and pass book. its
to be prepared for monthly one time.

Accounting concepts are very very important in the
accounting. because of every accountant in the world should
have follow the conceps. there are called as gaap. it means
generally accepted accounting principles
these are
- Business entity concept
- money measurement concept
-cost concept.
-dual concept
-going concern concept.

entry for paybles is
SUPPLIER NAME A/C DR
TO CASH/BANK A/C.

Answer / aman vohra

Assets denotes those items which generate benefit to an entity in the coming future. Whereas, liability is the money payable in respect of arranging Assets or incurring expenditure.

Depreciation is the amount of amortization of fixed assets, due to normal wear and tear on account of changes in environment, regular use etc. Depreciation is calculated either on Straight line method or the WDV method. Under Straight line method, the total cost less salvage value is divided with the number of accounting periods, in which the asset is expected to give benefit. Under WDV method, depreciation is computed on an derived percentage on WDV at the beginning of each accounting period.

BRS refers to the Bank Reconciliation Statement. This statement explains various items resulting in difference between book balance and bank balance.

There are several accounting concepts and accounting principles. Generally, Historical cost concept is used and the accounting is done under GAAP, IFRS etc.

Journal entry for payable is as follows:-

Dr. Asset/ Expense Account
Cr. Provision for expense/ payable A/c

Dividend is the amount of profit divided among the shareholders in a limited liability company.

Kindly solve the following problem. Financial accounting. 1. Bheema does not maintain his book in the double entry system . His books showed following facts. Receipts for the year ended 31.12.2007 from sundry Debtors 17625.00 Cash sales 4125.00 paid by bheema (proprietor) 2500.00 total 24250.00 payments made for the year ended 31.02.2007 new machinery purchased 625.00 drawings 1500.00 wages 6725.00 salaries 1125.00 interestpaid 75.00 telephone 125.00 Rent 1200.00 lighting 475.00 sundry expenses 2125.00 sundry creditors 7625.00 total 21600.00 Assets and Liabilities As on 31.12.2006 As at 31.12.2007 sundry creditors 2525.00 2400.00 sundry Debtors 3750.00 6125.00 Bank 625.00 ? stock 6250.00 3125.00 plant 7500.00 7315.00 from the Above data , prepare TRADING A/C, PROFFIT & LOSS A/C for the year ended 31st december 2007 and the BALANCE SHEET as on on that date. Kindly solve the problem

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Expand---------MDTR

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