Over or under provision of what is taken to profit and loss account as profit or
loss at the time of termination or sale of Assets?
Answer Posted / shivametpelly
fluctuating rate of mkt price
Refer AS10
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
What are the characteristic features of financial accounting?
payment voucher for advance salary
What are the 5 basic accounting principles?
sir I heard from some body that he received more money than requested in an ATM.Is it possible, if yes what is the remedy ?
Tell me an example of a tough decision that you had to make?
Tell us do you possess any knowledge about accounting standards?
I am a Leaving Cert Student. From Solutions to exam questions etc. I know what to do with the following adjustment but I cannot explain why. A thypical Adjustment is: A building is acquired for €60000 plus VAT at 10%. The amount paid to the Vendor was entered in the Buildings Account. No entry made in the VAT account. Could you explain why the VAT amount is deducted from the VAT amount in the TB? And why it is sometimes an Asset in the BS. Thank you, Mary
Which forms in use in service Tax, Excise duty and Vat for the return.
What does overhead mean in regards to accounting?
What will be the journal entry of purchase and sale for ac purchased for 40000 vat 5% sold for 45000 vat5%
i am indrani,iam siting for a/c assistance post of muthoot finance..so my question is what kind of question they may ask related to a/c or finance?or other than subject what question can be asked like why do u want to join this co etc.. ?
The following information is extracted from the audited books of accounts of a chain of food stores for the period ended 31st December 2015. Revenue Statement (Trading and Profit and Loss Account for the year ended 31st December 2015. BWP’000 BWP’000 Sales 460 Cost of good sold (220) Gross profit 240 Wages 50 Other expenses 30 (80) Net Profit 160 Note: The purchase figure included in the cost of goods sold of P255 000. Balance Sheet as at 31st December 2015 BWP’000 BWP’000 Fixed Assets 400 Current assets: Stock 80 Debtors (trade) 120 Bank 400 ----- [600] Current liabilities: Trade creditors 300 ------ [300] 300 Net Assets 700 ==== Financed by: Share capital 600 Revenue reserves 100 ------ 700 Shareholders Funds 700 ===== Required: (a) Calculate the following accounting ratios: (i) Current ratio (ii) Acid test ratio (iii) Stock turnover (in days) (iv) Debtors turnover (in days) (v) Creditors turnover (in days) (vi) Return on capital employed (ROCE) (vii) Gross profit percentage (viii) Net profit percentage (b). Give a brief comment on the performance of the company, based on the above ratios.
what is the difference b/w carpet area,covered area and build- up area and how it is calculated.......
How to calculate Gratuity & when it's applicable to employee after three years or Five years?...
How can you define departmental accounting?