Answer Posted / sagar

the right answer is debit balance of the p&l a/c is shown as
"ASSET" in the balance sheet.

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.

2204

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EXPAND_________SEC

2172

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From the following find out a. Profit Volume ratio b. Break even point c. Sales for 40% P/V Ratio d. Margin of safety from the sales Rs 3,00,000 e. Net profit from the sales of Rs 3,00,000 f. Required sales for the new profit of Rs 70,000 g. Required sales for the net profit of Rs 70,,000 after tax, the corporate income tax being 40% h. Additional sales required to convert an increase of Rs 3000 p.a. in the sales manager salary Sale 2,00,000 Variable Overheads 1,50,000 Profit 50000 Fixed overheads 15000 Net profit 35000 Sl No Heads of Account Debit Rs Credit Rs 1 Drawing and Capital 750 15,000 2 Stock as on 01.01.2009 69720 3 Bills Receivable and bills payable 1000 1180 4 Returns 300 320 5 Purchases and Sales 4500 8300 6 Wages 70 7 Discount 30 8 Salaries 200 9 Canara Bank Shares 3000 10 Insurance 120 11 Building 3000 12 Furniture 700 13 Debtors and Creditors 600 1300 14 Cash in Hand 470 15 Overdraft at bank 900

2071

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Sensitive field have been defined and customized for vendor master data. For which of the following sensitive fields will an update trigger dual control?(any 1 answer) Currency Account group IBAN VENDOR ACCOUNT NUMBER

2215

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Suppose My received Interest Income is 24934.59 And for the same time my Bank Charge total is 7785.19. Now the total Bank Charge will be deducted from Interest Income and the amount of (24934.59-7785.19)=17149.40 will be withdrawn to deposit in govt. Account.What will be the Journal Entry for 17149.40. Here, Already Bank Charge 7785.40 is Already Debited and 24934.59 is already credited in Journal.

1338

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In case of cement plant we have to capitalizee locomotive engine my question is about the rate of depreciation on SM basis and category in which it should be capitalize?

2080

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distinguish between Bill of Exchange and Promissory Note

2249

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let me know the difference between net cash flow and income

2200

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what is the difference between Tally ERP and SAP FI ECC?

2379

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Short Answer on ______Budget

1902

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I KNOW THAT INSURANCE CHARGES ON PURCHASE OF VEHILE (LIGHT/HEAVY VEHICLES)HAS BEEN CAPITALISED OR NOT.?

1889

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how to maintain E-Commerce companies accounts

1417

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Hi, I am doing Data Entry jobs in Accounts. please let me know "How to maintain Medical stores accounts"?

2167

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Expand---------PCDB

2054

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what is account & what is finance

2181

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