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Answer Posted / anjali sharma
Deferred Revenue Expenditure consist all those exp. which
are heavy in nature and we can't chare these exp. in single
financial year.
Foe Eg: Formation Exp. like we are going to open a new
firm and for the promotion of firm we are panning to
advertise teh firm through hordings and through very good
inaugration party, it will consisit a huge amount of Money
if we charge Whole amont in ones time than firm will show
Loss automayicaly That is whay we charge this Exp. in no.
of Years (in next five years or three years etc...) These
are Differed Revenue Expenditure.
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cash sales and credit sales both are asset or liability?
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From the following find out a. Profit Volume ratio b. Break even point c. Sales for 40% P/V Ratio d. Margin of safety from the sales Rs 3,00,000 e. Net profit from the sales of Rs 3,00,000 f. Required sales for the new profit of Rs 70,000 g. Required sales for the net profit of Rs 70,,000 after tax, the corporate income tax being 40% h. Additional sales required to convert an increase of Rs 3000 p.a. in the sales manager salary Sale 2,00,000 Variable Overheads 1,50,000 Profit 50000 Fixed overheads 15000 Net profit 35000 Sl No Heads of Account Debit Rs Credit Rs 1 Drawing and Capital 750 15,000 2 Stock as on 01.01.2009 69720 3 Bills Receivable and bills payable 1000 1180 4 Returns 300 320 5 Purchases and Sales 4500 8300 6 Wages 70 7 Discount 30 8 Salaries 200 9 Canara Bank Shares 3000 10 Insurance 120 11 Building 3000 12 Furniture 700 13 Debtors and Creditors 600 1300 14 Cash in Hand 470 15 Overdraft at bank 900
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duties of bank finance manager
