Answer Posted / h.r. sreepada bhagi

Rules of Accounting are related to debit & credit for all
business transactions by categorising them as Personal A/c,
Real A/c & Nominal A/c - These rules ar called golden rules
of Accounting.
There's nothing called principal of account, but there are
'Principles of Accounting. The fundamental concepts &
conventions for accounting are called 'Principles of
Accounting'. A few of the Concepts are 1)Business Entity,
2)Matching, 3)Accounting Period, 4)Money Measurement, 5)
Cost, 6)Accrual, 7)Materiality, 8)Dual Aspect. A few of the
conventions are 1)Conservatism, 2)Consistency.

For more info refer book on Principles of Accounting or
Fundamentals of Accounting.

Sold goods to Gasha 600 by cash

1456

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have you ever been involved in an invoice dispute? How did you manage the problem?

1155

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Assuming that a firm pays tax at a 50 per cent rate, compute the after tax cost of capital in the following cases: I. A 8.5 % preference share sold at par. II. A perpetual bond sold at par, coupon rate of interest being 7 per cent III. A ten year, 8 percent, Rs.1000 par bond sold at Rs.950 less 4 percent underwriting commission.

3634

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what are the items falling under the category of reserves and surplus? whether bills of exchange is a reserves and surplus item 2.whther errors of omission will affect the trial balance

1962

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Which kind of transactions are not recorded in the books of account?

1879

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What will be the journal entry of purchase and sale for ac purchased for 40000 vat 5% sold for 45000 vat5%

1682

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Please give me as example of service tax & Vat Posting through Tally.

2201

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Accounting for vc money in financials

1220

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how we can calculate sundry debtors and crditors a/c?show some examples

5492

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I renders interior Services, consider one project cost Rs.500000/- Scenario 1 - Material purchased on my Firm Name Material - 300000 -300000 On party behalf Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit Scenario 2 - Material purchased by client Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit In both Profit is same Rs. 50000/-. which is beneficial for me in terms of turnover or tax matters. and if I have to raise a bill to party as per both scenario, how it will affect bill and tax, where will I suffer loss?

2006

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If balancing account is not assigned to company & is assigned to department wat will be the effects

2066

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How do you build a successful business relationship?

1132

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Q1.How depreciation deffer from depletion? Q2.show the main benefit from calculating and recording depreciation.

1961

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Can you name different branches of accounting?

1065

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Financial Accounting

2336

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