Answer Posted / ravichandra

Hi,
Depreciation is a measuare of the wearing out, consumption
or other loss of a value of a depreciable asset arising from
use, effulaction of time and obsolvence.
Depreciation is a process of allocating the depreciable
asset of an its estimated life of the period.

BRS
Brs means Bank reconcilation statement. its to be prepared
to know the difference between cashbook and pass book. its
to be prepared for monthly one time.

Accounting concepts are very very important in the
accounting. because of every accountant in the world should
have follow the conceps. there are called as gaap. it means
generally accepted accounting principles
these are
- Business entity concept
- money measurement concept
-cost concept.
-dual concept
-going concern concept.

entry for paybles is
SUPPLIER NAME A/C DR
TO CASH/BANK A/C.

Expand-------NBTA

2090

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What is outsider equity and time interest period ratio?

1901

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Expand--------CMTS

2347

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What are the general Ledgers?

1911

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What is meant by Nostro Reconciliation

2120

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what are the aspects an auditor has to see when he/she is doing the Purchase,Sales and Journal Vouching

1858

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What is SOX

2124

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if we have credit 50 % rg23c part ii first and not credit next balance 50 % .when we have do?

1814

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plz send me the accounting questions and answers of bank of america.

1867

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what is contigent liabilities? whats it status in balance sheet?

2195

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What is the procedure to become charted accountant in India now. Please answer this is urgent

1449

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Could u show me the sample TDS Document / Template

2059

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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.

2990

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what are Blue-Chip companies?

2172

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let me know the minimum Accounting Heads in an accounting system

4620

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