Interested to Buy Any Domain ? << Click Here >> for more details...
Whatis the Journal entry for advance payments and advance
receipts from Debtors and creditors
- 14 Answers
- 143913 Views
- I also Faced
- E-Mail Answers
Answer Posted / afsal
for advance payment
advance a/c dr
cash a/c
for advance receipts
cash a/c dr
advance a/c
| Is This Answer Correct ? | 0 Yes | 2 No |
Post New Answer View All Answers
KINDLY PROVIDE ME RBI OFFICER SCALE B QUESTION PAPER (PREVIOUS)
what is finance what is bpo why do u want join a BPO types of process in BPO Company's
What is DECR And for wt it is used?
EXPAND_________SEB
AN ESTIMATE OF ASSETS AND LIABILITIES ON AGIVEN DATE
What is PE ratio formula ?
what type of questions are asking for fund administration???
Expand-------IETF
Plz send me the questions that could be asked in an interview for a Bank Clerical job to suja_aln@yahoo.co.in. Thank you.
The cost equation y= $0 + $1.60x represents which type of cost? Variable, Fixed, or Mixed
What Settlement details are required on the delivery instruction slip?
2. You are required to prepare a Profit & Loss Account for the year ending 31st December, 2007 and the Balance Sheet on that date. The Trial Balance of XYZ Ltd. for the year ended 31st December 2007 is as follows:- Trial Balance of XYZ Ltd. as on 31st Dec. 2007 Debit Balances Rs. Credit Balances Rs. Materials used 3,50,000 Sales(including 2% Sales tax) 9,18,000 Cost of Labour 1,50,000 Sale of Scrap 100 Stock, finished and work in process on 31st December, 2006 50,000 Rent received 2,000 Wages : Factory Staff 15,000 Discounts 2,750 Directors Remuneration 50,000 Recovered against fire claim re : Stock 5,000 Salaries : Clerical Staff 75,000 Capital : Equity 25,000 Insurances : Workmen’s Compensation 1,500 Preference- 9% 8,000 General, fire etc. 2,000 Creditors 1,56,000 Directors’ Life Insurance 1,500 Provision for Taxation 1,05,000 Maintenance : Buildings 1,000 Profit & Loss Account 13,750 Plant and Machinery 12,500 Rent and Rates of premises and hire of plant 20,000 Heat, Light and Power 15,000 Experimental and Laboratory Expenses 10,000 Canteen Expenses 5,000 Staff Welfare expenses 2,500 Motor Expenses 12,500 Professional Charges 2,800 Postage and Telephone 3,500 Books, Printing and Stationery 11,000 Sundry expenses 10,000 Carriage and Packing on Sales 3,300 Discounts 5,000 Debtors 1,78,000 Freehold Property 50,000 Plant and Machinery 12,500 Fixtures and Fittings – Offices 3,500 Office machinery and Equipment 3,000 Motor Car and Van 6,500 Stock of materials on 31st Dec. 2007 1,20,000 Bank 38,000 Sales Tax Paid 15,000 12,35,600 12,35,600 Depreciation is to be provided at the following rates: Plant and Machinery 10% Fixture and Fittings 05% Office Machinery, etc. 10% Motor Vans and Cars 25% The stock of finished goods and work in progress as on 31st December, 2007 was Rs. 35,000. Provide for preference dividend and ordinary dividend at 10%. The total taxation liability is estimated at Rs.1,50,000 of which Rs. 75,000 relates to the current year. Debtors include Rs. 10,000 deposited as security against government contracts. The Works Manager is paid partly by salary and partly by a commission; he is entitled to a commission of 5% on the amount by which the surplus in the factory cost exceeds 20% of the sales for the period. Charge the commission if any in the Profit and Loss Account.
Why do you want to work for us?
If its is declared by auditor that business is not going concern that what journal entry will be pass?
what is dieerence between capital cpapital structure
