Answer Posted / lesline
break even point is a point wich denotes neither gain nor
loss
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Suresh agreed to adjust Ramesh due amount of Rs 15000- from his credit balance
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discounted our own note 60-18% for 4,500 note. the proceeds will be directly credited to bank account. what is the entry of this?
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please answer this question.the following balances were extracted from the books of modern traders on 31st dec,2010.capital(85000)fixed assets(45000)stock1-1-2010(15000)sundry debtors(20600)productive exp(3300)reserves fund(6600)discount received(800)cash in hand(6200)drawing(5000)accomulated dep.(9000)purchases(82000)bad debts(400)unproductive exp.(27400)sundry creditors(9000)sales(120000)cash at bank(25500).adjustments.stock on 31-12-2010(15000).outstanding wages (5000) write-off (600)of further bad debts. create provision for bad & doubtful debts at {5%) on debtors.unproductive expenses includes anitem of prepaid insurance (100).provide depreciation on original cost of fixed assets @ (10%).
A company acquires new taxi fleets on 1April 2006 with intention to provide services during the World Cup period and thereafter dispose the taxis .The World Cup runs for three months to 30 June 2006.The company's year end is 30 June 2006.how do you account for taxis at initial recognition .
Under the accrual basis of accounting incomes are recognised at the time -------------------
The partners agreed to take hero honda vehicle of Rams as firms vehicle by giving credit to his capital account. The vehicle was valued for Rs 65000/-Pass necessary entry
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