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Answer Posted / sanjaya kumar parida
golden rule is the general rules for posting the transaction
in the book of account.there is a specific rules for
personal,real and nominal account.such as
for personal-dr the receiver and credit the giver
for real-debit what comes in and credit what goes out
for nominal-debit all expenses and losses where as credit
all income and gain.
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lic (life insurance corporation)how much he or she as to deduct income tax on his gross annual salary. please give with examples
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Plz Ask from me New Accounting Questions.
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please send me banking question on my email ID as I have been selected for state bank of india .my email ID is sawant.supriya51@gmail.com
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.
HELLO FRIENDS I WANTED TO THAT IS DUPLICATE KEY MAKING CHARGE IS UNDER THE HEAD OF GENERAL EXPENSES
How to treat company managers personal expenses met by company if he is not taking salary from company and in future salary will be payable after deducting all personal expenses (salary amt will be decided only at paying year). pass journal entries
