Interested to Buy Any Domain ? << Click Here >> for more details...
How do you calculate closing stock? Which important steps do
you take while valuation of closing stock.
- 4 Answers
- 8377 Views
- Jordan, TATA, I also Faced
- E-Mail Answers
Answer Posted / raju
Closing Stock=openging stock+Purchases-sales
| Is This Answer Correct ? | 18 Yes | 2 No |
Post New Answer View All Answers
WHAT ARE THE LIMITATIONS FACING ACCOUNT CONCEPTS AND CONVENTIONS?
what are the different methods of teaching share and debenture to pre degree students
A firm had the following Balances on 1 January 1994: (i) Provision for bad and doubtful debts Rs 2,500 (ii) Provision for discounts on debtors Rs 1,200 (iii) Provision for discounts on creditors Rs 1,000 During the year, bad debts amounted to Rs 2,000, discounts allowed were Rs 100 and discounts received were Rs 200. During 1995 bad debts amounting to Rs l,000 were written off while discounts allowed and received were Rs 2,000 and Rs 5,000 respectively. Total debtors on 31 December, 1995 were Rs 48,000 before writing off bad debts, but after allowing discounts. On 31 December, 1995, this amount was Rs 19,000 after writing off the bad debts, but before allowing discounts. Total creditors on these two dates were Rs 20,000 and Rs 25,000 respectively. It is the firm’s policy to maintain a provision of 5% against bad and doubtful debts and 2% for discount on debtors and a provisions of 3% for discount on creditors. Show the accounts relating to provisions on debtors and provisions on creditors for the year 1994 and 1995.
Tell me do you possess any knowledge about accounting standards?
How to pass an general entry for materials which are stored in warehouses??????
Tell us how can you define departmental accounting?
Tell me under the accrual basis of accounting, when revenues are reported in the accounting period?
What is the entry for closing stock value reduction?
Do you have any idea about gst?
Sales Invoice 50000/- fully profit , management want profit for this year should be appear in P&L A/c and B/S 25000/- only and remaining 25000/- profit retain for the next year What will be JV for this year and next year?- Thank you
is we can prepare any account for partnership in tally
Discuss the consistency concept in accounting
why accounting is important in business?
Why in SAP external number range should be selected for depreciation posting . any specific reasons for that explain me? Raj
sIR, DEAR SIR, WE ARE PREPARING EXPORT INVOICES AT THE TIME OF INVOICE PREPARATION WE MENTIONED EXCISE, EDN CESS AND SH EDN CESS AMOUNT ALSO IS IT CORRECT ARE NOT BUT I THINK WHEN MATERIAL SOLD EXPORT EXCEMPTION FROM EXCISE, EDN CESS AND SH EDN CESS WHICH EVER IS CORRECT. PLEASE CLARIFY MY DOUT. ADVANCE THANKING YOU,
