Interested to Buy Any Domain ? << Click Here >> for more details...
where outstanding debts being Rs 48000 and 20% considered to write off .
pass jounal entry.
- 2 Answers
- 3772 Views
- Kalyani Forge, MCom, I also Faced
- E-Mail Answers
Answer Posted / dipti
bad debts a/c dr
outstanding debts a/c
| Is This Answer Correct ? | 0 Yes | 2 No |
Post New Answer View All Answers
why assets are shown at their historical cost price but not at their current price bcoz we are following historical cost concept. but this will not reveal correct financial position of the business.give reason
Can share warrants issued by the company be considered as potential equity shares? If yes, then will it be considered for calculating dilutive EPS?
Do you know balancing in accounting?
Pass the journal entry: rent outstanding
what is the right process for input credit of Service tax. and on which service i can take credit.
Explain what is balance sheet?
on what rate depreciation will be calculated?
Explain what is bank reconciliation?
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.
Explain accounting 101?
Tell me do you think there is any difference between inactive and dormant accounts?
What accounts are to be debited and credited in this case o
whether allowances will be included in calculating esi from gross salary
Journalise- opened a saving a/c with S.B.I. ?
Explain the accounts payable cycle
