Interview Questions Answers in Accounting AllOther, Accounting General, Taxation

Question { Accounting, 19271 }

what is balace sheet??

Answer

Its statement ,and its preparing for Knowing Financial
stability of the co.and Its list of Assets and Liability.

Is This Answer Correct ?

5 Yes

3 No

Question { ACC, 6557 }

Profit is a asset or liability to the company....? If is it a asset or
liability....how it is....?

Answer

if its Profit,

Profit loss a/c Dr
Capital Cr
Its means profit is liability to the co.

if Loss,
Capital Dr
Profit loss a/c Cr
Its means Loss is assets to the co.

Is This Answer Correct ?

7 Yes

0 No

Question { 5798 }

What is the Journal Entry of Closing Stock (Raw Material) of
a manufacturing Company

Answer

We can't pass cls entry for this ,Its opening stock to next
year.

Raghu.v.

Is This Answer Correct ?

5 Yes

2 No

Question { 4016 }

We have sold goods to customer against H-Form in each quarter
of the year. But customer is issuing single H-Form for whole
year purchase. Should we accept it or not?

Answer

No.we have receive H form for Each quarter.

Is This Answer Correct ?

0 Yes

0 No

Question { TATA, 5074 }

give me some simple examples of personal account, real
account, nominal account

Answer

Ram.Raghu, > Per a/c.
Cash /All fixed assets >Real.
All expenses ,Salary >Nominal.

Is This Answer Correct ?

3 Yes

0 No

Question { 4543 }

Whether purchase of a fixed asset comes in receipt & payment
account or not?

Answer

If we have purchase made of Fixed asset we have record in
Journal voucher ,that,

Fixed assets a/c Dr 500
Supplier /ac Cr 500

After we have made payment to them,That,

Supplier a/c Dr 500
Cash /Bank Cr 500

Is This Answer Correct ?

4 Yes

0 No

Question { JK Cement, 5137 }

What Is ROC? Explian briefly?

Answer

Means Registered of Companies .

we have to get this certificate at the time of Establish co ,
and we have to change if any changes made in future.

Is This Answer Correct ?

1 Yes

2 No

Question { JK Cement, 5137 }

What Is ROC? Explian briefly?

Answer

Means Registered of Companies .

we have to get this certificate at the time of Establish co ,
and we have to change if any changes made in future.

Is This Answer Correct ?

1 Yes

1 No

Question { State Bank Of India SBI, 5746 }

What is meant by ERP

Answer

Enterprises Resources planning.

Raghu.V.

Is This Answer Correct ?

11 Yes

1 No

Question { 5963 }

What is the journal entry for tds collected on a cheque of Rs
50000 paid to a consultant?

Answer

if Its Total value Rs.50,000/-

Consultant Fee / Expense a/c Dr 50,000
Consultant/provider a/c Cr 45,000
TDS Payable on con fee(194J) Cr 5,000

Is This Answer Correct ?

12 Yes

2 No

Question { Amazon, 15011 }

Journal entry for Telephone purchased in credit?

Answer

Telephone a/c Dr
Supplier a/c Cr

Is This Answer Correct ?

7 Yes

0 No

Question { Amazon, 7995 }

What is the journal entry for Prepaid expenses?

Answer

Whatever we have paid in Prepaid have to Treat as assets

Prepaid Expenses Dr Under Current assets
Cash /Bank Cr

Is This Answer Correct ?

4 Yes

1 No

Question { Concor, 4592 }

how to pass the entry of advance paid to employee against salary

Answer

salary Advance Dr 5000
Cash/Bank Cr 5000

While adjusting Salary for same Person,

X salary a/c Dr 5000
salary Advance a/c Cr 5000

Is This Answer Correct ?

7 Yes

0 No

Question { Tally Solutions, 10342 }

Which ledger are already exist in the tally erp9 ?

Answer

Proft & Loss A/c

Cash

Is This Answer Correct ?

40 Yes

3 No

raghu