Interested to Buy Any Domain ? << Click Here >> for more details...
What is the entry pass if we are given to advance for
employee?
- 5 Answers
- 7968 Views
- I also Faced
- E-Mail Answers
Answer Posted / suri.9393647338
When advance is paid the entry is..
prepaid salary A/c Dr
to cash /bank A/c
(Being salry Advance paid for the month of ***.).
When the payment of actual salary the entry is..
salry A/c Dr
to prepaid salry A/c
| Is This Answer Correct ? | 5 Yes | 2 No |
Post New Answer View All Answers
2. A budgeted profit statement of a company working at 75% capacity is provided to you 2 below, Sales 9,000 units at Rs. 32 Rs. 2,88,000 Less: Direct materials Rs. 54,000 Direct wages 72,000 Production overhead: fixed 42,000 variable 18,000 1,86,000 Gross profit 1,02,000 Less: Administration, selling and distribution costs: fixed 36,000 varying with sales volume 27,000 63,000 Net profit 39,000 You are required to: (a) Calculate the breakeven point in units and in value. (b) It has been estimated that: (i) if the selling price per unit were reduced to Rs. 28, the increased demand would utilise 90% of the company's capacity without any additional advertising expenditure, and (ii) to attract sufficient demand to utilise full capacity would require a 15% reduction in the current selling price and a Rs. 5,000 special advertising campaign. You are required to present a statement showing the effect of the two alternatives compared with the original budget and to advise management which of the three possible plans ought to be adopted, i.e., the original budget plan or (i) above or (ii) above. (c) An independent market research study shows that by spending Rs. 15,000 on a special advertising campaign, the company could operate at full capacity and maintain the selling price at Rs. 32 per unit. You are required to: (i) Advise management whether this proposal should be adopted.
in what circumstances it is mandatory to calculate the goodwill.
What are the columns of a journal?
Under the accrual basis of accounting, when revenues are reported in the accounting period?
Do you know what is a cpa?
Describe yourself briefly why you are outstanding for this post "Finance Coordinator"?
Is it legal for an organization to keep two sets of accounting records; one for tax and one for book? Why or why not?
Tell me what is the general classification of accounts that usually ledger account involve?
what are cost accounting and its applications?
Tell me different branches of accounting?
what are the different types of expenditures considered for the purpose of accounting?
Tell me about an invoice discrepancy you discovered and how you resolved it
Does the accounting system appear to facilitate one specialty from financial, auditing, or cost managerial or tax accounting over the others?
What are the steps to take before you approve an invoice for payment?
Tell us what do you believe should be an important quality of an account executive?
