Answer Posted / abid ali

salary for the 15th jan
salaries outsanding a/c dr 4000
to outsanding expenses a/c 4000

salary received for the 15the jan in the month of feb
salaries a/c dr 4000
to cash 4000
salary for the feb
salaries outsanding a/c 8000
to outsanding expenses 8000
salary recieved for the feb in the march
salaries a/c 8000
to cash a/c 8000

salary for the month of march

salary outsanding a/c 8000
to outsanding expenses a/c 8000

salary for the month of march in april
salary a/c 8000
to cash a/c 8000

what is the process to return sales tax file?how can i prepared s.t. file?what should be qualification for it?

1960

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Can you please help me calculate the pre tax profit for credit card for 2014 using the following Assumptions. Request you to list the steps used. Charges Late fee £12 per occurrence Over limit fee £10 per occurrence Cash fees 3% of cash withdrawal value Annual Fee £25 per account, per year Interchange 1% of transaction value KPIs Accounts overdue 10% per month Accounts over limit 15% per month Average APR 30% Balances revolving 90% of balance Average balance £900 at end of 2013 Expected growth in average balance (2014) 10% per annum Assumptions Open accounts 200,000 at 2013 year-end New accounts booked 5,000 per month Annual operating cost £50 per open account Cost of Acquisition £50 per account Provision rate 9% of total balances Annual cost of funds 4% by balance Charge off Unit charge-off rate in 2014 11% of accounts at 2013 year-end Unit charge-off rate in 2014 0% of accounts booked in 2014 Post charge-off recoveries 20% of balance Account Transactions Monthly turnover 5% of total month end balances Cash advances 20% of monthly turnover Additional Assumptions Please state any additional assumptions you have made to calculate your answer Thanks in advance,

1766

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Give a brief explanation of the fundamental accounting concept of prudence

2262

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What was key roles of Cashflow statement and Fund flow statement and Balnsheet..?

2320

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what are the different causes for discrepencybetween the balance of cash book and pass book

1922

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From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.

3032

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If someone knows about the test pattern of Junior executive accounts than please share.

2145

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what are the models of valuation of the company

1986

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what is mean by ledger

3910

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what is purchase consideration? How does it come about and how is it treated in the books?

2543

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what about case study

2108

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what is investment banking

1999

---

Is commodities transaction tax a permissible business expenditure? Explain

2221

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when assessing the credit proposal of a prospective borrower if he gets internal rating below the hurdle rate what will you suggest as a banker

2127

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What is 100% EOu? what is the benifit and what is difficulty of it?

2116

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