Answer Posted / pratik mishra
The value of tangible goods (can be touched like furniture, computer etc.) getting decreases day by day as it is purchased from a place. It is calculated after the Financial Year ends or when a business wants to sell the specific asset.
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
Define the term material facts in accounting?
PLEASE CLEARLY EXPLAIN WHAT IS MEANT BY TDS,CST,ADVANCE TAX,PF,PT,ESI.CLEARLY AS IF EXPLAINING TO LAY MAN
How much mathematics knowledge is necessary or required in accounting?
'Talk me through an example of how you have used data to improve your teams productivity.'
What are the three factors that can affect your cash flow and business profitability?
Describe yourself briefly why you are outstanding for this post "Finance Coordinator"?
Define balancing in accounting?
what is a grn in terms of accounting ? what is a grnthroughpo in terms of purchase order? what is a direct grn?
What is the networth percentage observe by banks
Explain what is double-entry accounting? Explain with an example?
Can you please explain the difference between differentiate between consignor and consignee?
Explain what makes a successful account manager?
Cheque rs 1400 received from Charles in settlement of a debit of rs 1500 returned dishonored
The following transactions relating to ABC Ltd for the month of 20x1 a) Services performed in relation to income recieved in advance total $1500 b)Supplies expense includes $400 of supplies that are still on hand at 30 June c)Interest accrued on the bank loan is 750 d)At the end of june paid rent for 3 months (June, july Aug) $6000 e)Credit sales for the month of June 2009 amounted to $50000. Past expierence shows that around 1.5% of net credit sales are written off as bad debts. XYZ ltd, previously notified ABC ltd that they have gone bankrupt, will be able to pay $1000, which was recieved at the end of the month. The provision of doubtful debt has an opening balance of $800. f) The owners of ABC Ltd wish to revise the balance of the provision of doubtful debts account to $3500. g) Depreciation of one year on the delivary van is $1500. h) On 30 June 2009, ABC Ltd sold an item of equipment for $40000 cash. The cost of equipment was $50000 and had a accumulated depreciation balance of $2000 REQUIRED: Prepare the relevant adjusting journal entries for the month of June 20x2
hi to all.... what is the treatment for Work-In-Progress in Tally...please answer for it as early as possible... thanks & regards
