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0 Answers Aditya Birla, Genpact,
EXPAND_________SDJMC
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In Pricing the gallons of petrol sold,service station 'A' follows the first-in-first-out method,while service station'B'follows last-in-first-out method.On 1st January both has the same quantity in stock viz.6,000 gallons at Rs.26 per gallon.During the month,each station recieved additional supplies of 6,000 gallons at Rs.27.50 per gallon.Sales for each of these two stations,during the month,were 8,800 gallons at Rs.29 per gallon. Determine for each service station,profit earned during the month and value of the petrol in stock at close of the month.
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DEAR ALL, HOW TO ACCOUNT THE SALARY ADVANCE A/c. I HAVE TAKEN AN ADVANCE OF Rs.25000/-. I HAVE DEBITED SALARIES ADVANCE A/c AND CREDITED THE PETTY CASH A/c in TALLY. I dont't know whether it is correct or not. If correct, in my individual ledger no entry is reflected. Alternatively, if I debit my self and credit petty cash a/c it is reflected in the P & L Account, but it is not an expense. and not reflected in the balance sheet, but reflected in P & L. I think I need to put a journal entry. Like debiting the salary account and crediting the salary advance account. Is this correct or not? Can any one help me please. my mail add: cdvijay100@yahoo.co.in or kmlnkml@live.com
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