Answer Posted / sujit

Because, we may get profit in the Trading account but due to the operation activity we might have loss in the manufacturing account, so we call it profit and loss account instead of profit or loss account.

Sales for ABC Company were Rs.150,000 for 2003.The beginning inventory was 30% of the cost of goods sold.The ending inventory was 50% of the beginning invetory.Selling expenses were 10% of sales and absorbed 30% sales.Income taxes were 30% of net income before taxes.

2088

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Expand---------EDP

2487

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describe the most complex challenge that you have faced and how you managed it

2260

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• What is depreciation and the method?

2075

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What are direct income and indirect income

2054

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You use the accounts approach for parallel valuation in a new G/L system. If you used the ledger approach instead. Which objects would be different? ( any 3 answer) Chart of accounts Financial statement version Depreciation areas Asset classes Leading ledger

3411

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I want to know with example of vat & Salestax

2325

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Erection and Instalation charges of Rs 7500 to Lift was debited to repairs and maintenance account. Rectify it

2292

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What is Risk Assessment?

1951

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what do you mean by accounting?Explain the various concepts of accounting and the need for having accounting standards?

2135

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What is the value of inventory as per Financial Accounts (AS2) and as per Cost accounts? Someone told me that as per cost accounts only works costs is considered in CARR while for FA, AS2 is followed with cost or NRV whichever is lowewr? Please explain the difference.

2273

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What is compensation theorem?

3075

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Expand DPCO

2135

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Short answer on Allowances

1975

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is advance against FD or RD is treated as NPA .if EMI is not in scheduled . or classification of npa as per day is is made from sanction date or last payment date of repayment . please suggest me

2248

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