Total Answers Posted # 10
Total Answers Posted for My Questions # 0
Total Views for My Questions # 0
Users Marked my Answers as Correct # 14
Users Marked my Answers as Wrong # 1
Question { 7303 }
What is the difference between Invoice and Performa
Invoice ?
Answer
Invoice is for cash/credit payment
| Is This Answer Correct ? | 0 Yes | 0 No |
Question { 17856 }
what should by the journal entries for tds payble
Answer
To Creditors a/c .....
Creditors a/c dr....
To TDS Payable a/c......
| Is This Answer Correct ? | 0 Yes | 0 No |
There is a Service Bill of Rs.50,000 & Service Tax added
10.30% & We have to deduct TDS @ 2%. Assume that Service
Tax Input Credit available to Ur Co. What is the Journal
Entry for this?
Answer
Service bill a/c dr. ........ 50000
Service tax cenvat a/c dr......5150
To Party a/c 54150
To TDS payable 1000
2) Payment entry
Party a/c dr...... 54150
To Bank a/c ...... 54150
(TDS calculated on basic value excluding service tax)
(Note : Service tax charged in the bill by service provider)
| Is This Answer Correct ? | 2 Yes | 0 No |
Question { 3064 }
when re ordring quantity is 300 unit.minimum usage is 20unit
minimum lead time is 5 days , maximum stock 400 unit , re -
ordering will be:
1)300 unit
2)200 unit
3)400 unit
4)100 unit
Answer
Reordering unit will be = 100 units
| Is This Answer Correct ? | 1 Yes | 0 No |
Question { 4424 }
prepare theree column cash book from the following details
on 3/2/06
1 balance (in hand) in the beginning 25,000.
2 recived chaque from x worth 5,000
3 deposited the same cheque into bank on next day
4 deposited 5000 into bank
5 withdrew 1,000 for personal use
Answer
Closing balance in Cash a/c 20000 & Bank a/c 9000
| Is This Answer Correct ? | 0 Yes | 0 No |
Question { 4398 }
We have bought a vehicle amounting and take a loan from
bank and some part has been paid by Cash.
Answer
To Cash a/c
To Bank Loan a/c
| Is This Answer Correct ? | 0 Yes | 0 No |
Question { Ernst Young, 5689 }
A sold a product for 20% profit to B, B sold for 10 % loss
for 230.
1, What is sale price of A
2, if A have sold for 500 what is profit %
Please explain step by step.
Answer
Cost of good for B = 230/90*100 = 255.55
Sale price of A is = 255.55
2) A sold on 20 % profit
Cost to A = 255.55/120*100 = 212.95
If A sold for 500 this good then profit is 500 - 212.95 =287.05
Profit % = 287.05/212.95 = 134.79%
| Is This Answer Correct ? | 1 Yes | 0 No |
Question { 5963 }
What is the journal entry for tds collected on a cheque of Rs
50000 paid to a consultant?
Answer
To Bank a/c ... 45000
To TDS payable a/c... 5000
| Is This Answer Correct ? | 1 Yes | 0 No |
Question { Communication for Development and Learning, 3152 }
How do I pass entries towards advance paid to program ependiture. ex: Rs.20000 advance paid to Program officer. and he come back with program expenses venue Rs.1000, food expenses Rs.10000 and travel Rs.4000 and accommodation Rs.6000. Kindly give me the answer that how do I pass the entries and how should I adjust advance.
Answer
Employee advance a/c dr...... 20000
TO Cash a/c..... 20000
To record the expenses
Venue expenses a/c dr... 1000
Food expenses a/c dr...... 10000
Travelling expenses a/c dr.... 4000
Accommodation expenses a/c dr.... 6000
To Employee advance 20000
To Cash 1000
(Actual expenses were more than the advance, the employer would have to reimburse the employee.)
| Is This Answer Correct ? | 3 Yes | 0 No |
we are paid advance to employee Rs.5000 for TADA. After Trevelling employee return Rs.500. please pass journal entry
Answer
Employee advance ... 5000
TO Cash .... 5000
At the time of return
Expenses 4500
Cash (Return Amount) 500
To Employee advance 5000
| Is This Answer Correct ? | 6 Yes | 1 No |
