Interested to Buy Any Domain ? << Click Here >> for more details...
How can I pass the journal entry for work in progress for a
construction company for every end of the period and what
should be for next period? I would like to know the debit
and credit should allocated where in an accounting system?
- 3 Answers
- 27923 Views
- I also Faced
- E-Mail Answers
Answer Posted / furqan
we have to look as per instruction given in ias 11
construction cotract where detaied anlysis is given
although
expense DR
wip cr
| Is This Answer Correct ? | 3 Yes | 2 No |
Post New Answer View All Answers
pass the journal as wellas ledger entries off the foll 1st jan :> started businress with cash rs 1,20,000 & goods worth rs 60,000. 2nd jan > cash purchases rs 50,000. 4th jan >cash sales rs 40,000. 6th jan > purchase good's from sonali on credit worth rs 30,000 at 10 % trade discount. 8th jan> sold sood's to komal on credit rs 20,000 at 10% trade discount. 10th jan > paid rent by a cheque rs 50,000. 12th jan > good's worth rs 4,000 lossed by fire. 14th jan > good's worth rs 3,000 withdrawn from business for personal use. 16th jan > good's worth rs 2,000 distributed as free samples. 18th jan > good's worth rs 1,000 exchange for furniture.
service tax calculated on agreement value or market value whichver is higher for builders?
What was the most difficult deal you had to close?
How the Entry passed for Loss of Payment
Hai Experts can any one send me some finance interview questions ,my mail id is c.sujatha2008@gmail.com,please send quickly it's so need.
hi to all.... what is the treatment for Work-In-Progress in Tally...please answer for it as early as possible... thanks & regards
Definition of push down accounting
Tell us did you use accounting applications at your previous companies or prefer working manually?
How to get C forms in online? Plz give me Processor Thanq
how calculate intrest on advance tax ? and penalty on vat?
Please give me a suggession to calculate the T.D.S,E.S.I,P.F, From salary which is in gross Rs. 15000/.
WHAT IS MIS REPORT IN ACCOUNTS ? WHAT IS ITS USE IN ACCOUNTS & GIVE WITH AN EXAMPLE ?
What is the difference between Accruals and Provisions?
I want to know the Payroll Accounting Questions
Do you know what is the importance of team work in this position?
