Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / chandana
Trial Balance is mainly prepared to check the arthematical
accuracy of books of accounts. It will give the details of
all items which are placed on both debit and credit side of
the balance.It is prepared to show the list of all the items
which appear on both the debit and credit side.
| Is This Answer Correct ? | 21 Yes | 3 No |
Post New Answer View All Answers
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.
can anyone provide me the Balance Sheet Items & P & L Items with Accounting Heads with Accounting codes?
We are a education institute based in chennai.if i purchase a product in chennai and i transfer it to our branch which is in bangalore. we don't have tin nos,Sales tax nos, cst nos. We have only service tax nos. what is the procedure.
what is buy bach shares?
your parents have lent you $20,000 to buy a car and have told you to pay it back whenever you like in conceptual framework
What goals do you have in your career
1. what is responsibility of inword & forward agent ? 2. how to control cash expenses give five step ? 3. what is Vat 3. how many type of depreciation
proprietor pays the hotel expenses of foreign client by his icici bank credit card. and then he pays the credit card bill by canara bank current account. how to pass entries in tally for this secnario
would gross expenditure vouch the correctness or otherwise of the given expenses?
Why closing stock appears both in trading and Balance sheet? Why does it doesnot appear in trail balance.
diffrence between the profit center and business area
can anybody send me interview question&answer to me in accounts and finance and income tax....my mail.id...jagathis1986@gmail.com
What is the Accounts Payable & Accounts Receivable ?
Q5 Prepare a Balance sheet from the following particulars: Gross profit =Rs.80,000 Gross profit to cost of goods sold =1/3 Stock velocity =6 times Opening stock =Rs.36,000 Accounts receivable velocity =72 days (year=360 days) Current assets=Rs.1,50,000 Account payable velocity=90 days Bills receivable =Rs.20,000 Bills payable=Rs.5,000 Fixed assets turnover ratio (on cost of goods sod)=8 times
Ram retired from partnership. The partners with mutual consent agreed to put the capital balance as on the date of retirement as loan to the firm @ 18% pa. The credit balance to his capital account was Rs 325000/- Pass necessary entry
