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Answer Posted / adarsh
which expen occured one time and provide benefits more than
one year these called deferred asset. for example
advertising,overhaling of old machinery etc.
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what is bank aceleted?
journal entries for money received from RBI by the banks IN CASE OF INSUFFICIENCY
Under what type of account do the unearned revenues fall?
How do we calculate the cost of investment?
what is book building
What was the most difficult deal you had to close?
Who is the sundry creditors
What is an accounting loss?
adjustment entry showing in tally such as outstanding salary prepaid salary etc.
What are source documents in accounting?
Other accounting interview questions to expect when you interview for an accountancy job include:
HOW WE MAKE A RESERVE AND AFTER ITS USE HOW WE NIL IT PLEASE MAKE A PROPER ENTRY.
Dear sir/madam, Want to know entry for closing of sundry creditors account on the end of the year when its accounts shows debit balance, Payment made excess. E.g Invoice rcvd : 100000.00 from XYZ company payment Made: 105000.00 Please suggest best entry for the same
M/s ABC Brothers, which was registered in the year 2000, has been following Straight Line Method (SLM) of depreciation. In the current year it changed its method from Straight Line to Written Down Value (WDV) Method, since such change would result in the additional depreciation of Rs. 200 lakhs as a result of which the firm would qualify to be declared as a sick industrial unit. The auditor raised objection to this change in the method of depreciation. The objection of the auditor is justified because (a) Change in the method of depreciation should be done only with the consent of the auditor (b) Depreciation method can be changed only from WDV to SLM and not vice versa (c) Change in the method of deprecation should be done only if it is required by some statute and change would result in appropriate presentation of financial 6 statement (d) Method of depreciation cannot be changed under any circumstances
Q1.How depreciation deffer from depletion? Q2.show the main benefit from calculating and recording depreciation.
