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srikanth reddy


{ City } guntur
< Country > india
* Profession * pursuing mba
User No # 56207
Total Questions Posted # 1
Total Answers Posted # 18

Total Answers Posted for My Questions # 6
Total Views for My Questions # 10750

Users Marked my Answers as Correct # 153
Users Marked my Answers as Wrong # 63
Questions / { srikanth reddy }
Questions Answers Category Views Company eMail

hi friends... what it is the journal entry to be passed when the loan sanctioned by one bank and same the cheque was deposited in another bank on same day.? thanks & regards

 6 Accounting General 10750



Answers / { srikanth reddy }

Question { Reliance, 28276 }

WHERE WE HAVE TO TAKE TDS RECEIVABLES IN THE BALANCE SHEET OR P&L
A/C ?


Answer

Under Reveivables (Current Assets) , Balance Sheet

Is This Answer Correct ?    6 Yes 0 No

Question { Capital IQ, 65015 }

What is BEP? How is it calculated?


Answer

BEP stands for BREAK EVEN POINT, where there is no profit
and no loss. it can be calculated by using a formula.

BEP = fixed cost / PV ratio *100

Is This Answer Correct ?    7 Yes 0 No


Question { 3648 }

Short Answer on ___________Arbitrator


Answer

Arbitrator is one, who purchases shares in one stock market
and sells the same in another stock market at higher price
than purchased for making profits.

Is This Answer Correct ?    0 Yes 1 No

Question { 12029 }

Hai viewers! I am deepa,pursuing MBA finance.I want to
pursue some additional course to add value.And to mention i
am a science student with no maths in my plus 2 level and
graduation(does not mean i am weak at)due to which i guess
i may not be eligible for some courses.Can you plz suggest
me something in this direction.
i am very much interested in shares and related things.


Answer

Hi deepa..being you have interested in Share market field, i
think you can prefer NCFM Modules. These are the courses
which will shine your Knowledge t think so. I had also
recently completed my MBA and now i'm in Job with a side of
NCFM Coaching.

All the best

Is This Answer Correct ?    0 Yes 0 No

Question { Capital IQ, 17789 }

wat is the golden rule of accounting


Answer

The Accounts are devided in to 3 types. they are Personal
Account, Real Account & Real Account.

According to Generally Accepted Accountig Principles....
Personal Account - debit the Receiver and credit the giver.
Real Account - Debit what comes in, Credit What goes out.
Nominal Account - debit All Expenses and Losses & Credit
all incomes and gains.

Is This Answer Correct ?    0 Yes 0 No

Question { 8211 }

What do you mean by prepration of Balance sheet? how to
explain this with example, please tell me if anybody knows
this.


Answer

Balance Sheet Will Prepared on the Basis of Trail balance.
A balance Sheet indicates the Financial worth of the
Compnay. According To Companies Act 1956, A Balance Sheet
shuld Consists of Capital, Reserves & surplus,
Currentlialities ( Liabilities) and Fixed Assets, Current
Assets, Preliminary Expenditure ( Assets ). source of the
funds treated as Liabilities and Application of Fundas are
Treated as Assets. so ASSETS = CAPITAL + CURRENT LIABILITIES

Is This Answer Correct ?    1 Yes 1 No

Question { ACS, 10211 }

Purchases entry?


Answer

Purchases may be cash Purchases or Credit purchases.
If you purchase the goods for cash/ bank then the entry
will be-

Purchases A/c dr
To cash / Bank A/c

If you purchase the goods on credit basis, then the entry
will be-

Purchases A/c dr
To Supplier A/c.

Is This Answer Correct ?    0 Yes 0 No

Question { 7677 }

what is CMA ?


Answer

CMA stands for COST & MANAGEMENT ACCOUNTING

Is This Answer Correct ?    1 Yes 0 No

Question { Capital IQ, 25266 }

EBIT stands for?


Answer

earnings before intrest and tax

Is This Answer Correct ?    8 Yes 1 No

Question { Capital IQ, 37087 }

Company why should issue Debentures and shares,
Which one should issue better for company and why?


Answer

to raise the funds the company may issue debentures or the
shares. it is depended on the rate of interest. if the
interest rate is high then the company may prefer to
debentures than the shares.

Is This Answer Correct ?    2 Yes 4 No

Question { 64992 }

are loose tools come under current assets ?


Answer

No. loose tools are treated as fixed assets

Is This Answer Correct ?    54 Yes 52 No

Question { 18684 }

if issue the share capital what is entry pass the journal


Answer

cash / Bank A/c Dr
To Share Capital A/c
(Being share capital Received)

Is This Answer Correct ?    15 Yes 0 No

Question { 5824 }

who is invented to accounting


Answer

Luca Pacioli was the First Person Who invented the
Accounting system in 15th century in British. later it was
used by Koutilya in the mid of 18 century in india..

Is This Answer Correct ?    1 Yes 1 No

Question { 4805 }

what is the differance b/w direct & indirect exp


Answer

Direct Expenses are those which effects the Production
directly.. For Example wages, carriage inwards, Expenditure
For Raw Material etc.... Indirect expenses are those which
does not effect the production Process Directly. For
Example, Administration Expenses, Selling and Distribution
Expenses.... These are the Expenses which Effects the
Production Process Indirectly....

Is This Answer Correct ?    7 Yes 0 No

Question { Capital IQ, 10035 }

What is the Mean of TDS,Benefits of TDS,Demerits of TDS?


Answer

TDS means Tax Deduct At Source. TDS will be deducted by the
Govt from an Assessee's Income which he/she Receivable.
According to Section 203 of the Indian Income Tax Act 1961,
TDS should be Calculated on incomes such as interest on
Securities, Special Income like as Income form Lotteries,
Cross Word Puzzles, And From Winnigs, Rent, Royalties,
Subcontract Works, Conrract WOrks, Labour Payments etc...
The TDS Benefit Will be avial to An Assessee While Paying
his/ her Tax Liability. the Rates of the TDS Vary from
Expenditure To Expenditure. According to Indin Income Tax
Act 1961, Form No 16 Will be Given By the Govt Through The
TDS Deductor to Deductee......

Thanks & Regrads

Is This Answer Correct ?    39 Yes 3 No

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