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Examples each for golden rules of accounting
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Answer Posted / suresh
salary is nominal account
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I renders interior Services, consider one project cost Rs.500000/- Scenario 1 - Material purchased on my Firm Name Material - 300000 -300000 On party behalf Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit Scenario 2 - Material purchased by client Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit In both Profit is same Rs. 50000/-. which is beneficial for me in terms of turnover or tax matters. and if I have to raise a bill to party as per both scenario, how it will affect bill and tax, where will I suffer loss?
Explain me by saying, perpetual or periodic inventory system; what do we mean?
Proprietor paid amount of Rs. 11060/- for car insurance. Pass Journal.
Please give me a suggession to calculate the T.D.S,E.S.I,P.F, From salary which is in gross Rs. 15000/.
Is it legal for an organization to keep two sets of accounting records; one for tax and one for book? Why or why not?
Tell me what would you say are the most important qualities of an account manager?
what is share application money pending allotment?
List the type of transactions entered in journal proper.
how to do asset appreciation in sap?
"A" has two divisions of "B" and "c".In our system we have two vendor accounts of B&C.We have received one Non PO invoice of B and posted wrongly in C and its got paid.While reconciling the account we got this error is happend.We contacted the C and asked for refund.But C said,he transfer internally the amount directly to B and he will not refund the amount.How we will settle this entry in our books. If we reverse the entry...there is one invoice needs to be reverse and payment doc needs to be reverse..how we can settle this in our books...
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