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Mr. A purchased a machinery costing Rs. 1,00,000 on 1st October, 2005. Transportation and installation charges were incurred amounting Rs. 10,000 and Rs. 4,000 respectively. Dismantling charges of the old machine in place of which new machine was purchased amounted Rs. 10,000. Market value of the machine was estimated at Rs. 1,20,000 on 31st March 2006. While finalising the annual accounts, A values the machinery at Rs. 1,20,000 in his books. Which of the following concepts was violated by A? (a) Cost concept (b) Matching concept (c) Realisation concept (d) Periodicity concept.
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sir i want know how to fill vat return
List out some of the accrued expenses and the accounts in which you would record them?
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Hi All, Can any body Explain the End to End Flow of Product Costing in SAP with Integration Point and Journal Entries Involved in the Flow ?
Plz Ask from me New Accounting Questions.
What is compound journal entry?
