Arjun lal

• Mar 19th, 2019

Bank and creditors are real accounts

Sonali Avinash Gawade

• Mar 14th, 2019

If we open bank account in sbi bank by depositing cash..... then it is personal acc or real acc ?

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TDS deducted by the Customer and deposited in central govt.account through receipt is an income or expenditure or what?

kathirvel

• Feb 16th, 2018

TDS will be deducted by buyer from service provider ( Not a seller ). TDS is liability from buyer point of view so this TDS will be deducted from service provider and paid to govt.

Praveen M

• Dec 2nd, 2015

Take a Example Interest income Rs. 10000, Received Rs. 9000 and TDs deducted Rs. 1000 Make following adjustments
1. Less. Rs. 10000 from P/L balance (being non-operative income credited to P/L)
2. Add: Rs. 9000 to Cash from investing activity (bring cash flow from interest)

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Do not explain just defination........ answer should contain example

Suyash Shah

• Sep 12th, 2017

Product is an object which, in itself, is static & does not involve time as one of its dimension. On the other hand, process is continuous & essentially implies time as one of its ingredients. So, the cost of product is arrived per unit & that of process is arrived per unit time.

Jitender Chhabra

• Oct 1st, 2015

Product Costing mean sum of all cost incl. Material (Direct), Labour (Direct/Indirect), all Overheads (factory overheads, selling & distribution overheads, admin overheads etc..) which are involved to...

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i want to know right enrtry of this question

DEBTORS 10000/-
DISCOUNT ALLOWED 1000/-
RECEIVED BAL 4000/-
REST OF AMOUNT BAD DEBTS

Shahnawaz

• Jul 24th, 2017

DR - Discount allowed 1000 + Cash/Bank 4000 + Bad Debt Expense 5000
CR - Accounts Receivables 10000

Amaed Ahmed

• Dec 3rd, 2016

(1) in Payment Voucher
Cash / Bank A/c ............ Dr Rs. 4000/-
Discount Allowed A/c ..... Dr Rs 1000/-
To, Debtor A/c ..............Cr Rs 5000/-

(2) In Journal Voucher
Bad Debts A/c DR .......... Rs 5000/-
To, Debtor A/c Cr ........... Rs 5000/-

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FAISHAL kHALIL

• Jun 7th, 2017

An accounting method whereby the costs associated with producing a good or service are recorded only after the good or service is actually produced, completed or sold

Jenny Vakharia

• Sep 19th, 2016

Back flush costing is a costing system tailored to just in time production systems. It contrasts with traditional costing systems that use sequenticial tracking to record purchases and movements of co...

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why while calculating deprecation we do not consider the change in prices of the machinery in the market i.e fluctuation in prices in market? As we consider the accounting period one of the concepts

Hamayun

• Mar 31st, 2016

According to the international accounting standards we take the value of an asset whichever is less either market value or actual value.

jayaprakash mc

• Aug 12th, 2015

We have to account for all anticipated losses but not profits. If the usefulness of the asset has gone down due to technical or behavioral changes, we are at liberty to provide additional deprecation. How ever we should not consider appreciation in market value.

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What is meant by Debtors Reconciliation. Explain in detail about it

Subhajit Dutta

• Sep 5th, 2015

Please help to get Debtor Ledger reconciliation details with a example (ledger copies)

JANINE BARR

• Oct 31st, 2011

A debtors reconciliation is to ensure that the balance brought forward and the closing balance tally. Reconcili payment and invoices

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Sadiq

• Nov 23rd, 2014

Cash basis = Received / paid cash on the spot (only cash transactions)

Accrual basis includes cash as well as on credit. (receivable and payable)

Deepthi

• Oct 27th, 2011

Cash basis accounting is when record in books once we receive cash in hand/bank or when we make payment in cash or through bank but accrual basis once we accure the income we record in the book irrespective of whether we received or not.

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If some one tell me in the interview how to make purchase entry ? pl tell me the answer.

khan

• May 3rd, 2013

Purchase A/c dr
to creditor A/c

Susanta Ku. Mohapatra

• Oct 17th, 2011

1. Go to Get way of Tally
2. Press V (Short Cut Key)
3. Press F9 (Short Cut Key)
4. Type - Purchase A/c. Dr
Cash/Bank A/c. Cr. (if Cr. purchase then type name of the comp.)

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siva

• Jul 30th, 2012

Turn over is capitalization of company or business concern for particular period or total sales operations figure in company

Susanta Ku. Mohapatra

• Oct 17th, 2011

Total Sale of year or a period is called turn over.

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Dasari Santhosh

• Jun 20th, 2012

Debit note:when the goods are returned to the supplier, a debit note is sent to him indicating that his a/c has been debited with the amount mentioned in the debit note. Credit note: the customer whe...

jk latha

• Nov 30th, 2011

Debit note is an note which is issued from the customer/ party for short/rejetcted matl amt.

Credit note is an note which is also issued by the customer /party for excess matl reced amt.

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What is meant by Three Way Matching Concept. Which is related to Invoice, Purchase order, Voucher, Vendor

gns.ravi

 Profile Answers by gns.ravi Questions by gns.ravi

• Apr 10th, 2012

3 Way matching means : - Matching the invoice with PO and GR at the same time,
2 Way matching means :- Matching the invoice with PO.

the above two are the matching concepts in AP process

Faisal Azim

• Jul 13th, 2011

Three Way Matching Means invoices ,Delivery and purchase all are same no any difference

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Based on Internal Revenue Service rules, what criteria distinguish a consultant from an employee?

Jeff Lippold

• Mar 26th, 2012

Answer is simple. A "contract" employee is working through a staffing firm and usually work short term specialty assignment. 6 to 9 month is average length of a "contract" employee. "Direct Hire/Pe...

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Explain the process of cost reporting

Lokesh M

 Profile Answers by Lokesh M Questions by Lokesh M

• Feb 7th, 2012

Cost report displays cost analysis results with details regarding average cost against revenue allocated for product / service, along with weighted average costs.

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What is cost control? what are the duties of a cost controller?

Lokesh M

 Profile Answers by Lokesh M Questions by Lokesh M

• Feb 7th, 2012

Cost control is a process that is followed in order to reduce the overall cost of production / service which results in not only saving more but also ensures competitive strategy. Cost controls ensur...

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What is Control Accounting? What is the use of it?

Lokesh M

 Profile Answers by Lokesh M Questions by Lokesh M

• Feb 7th, 2012

A control account represents a summary of general ledger. It helps us to keep the general ledger free of innumerable transaction details. However the details of all transactions will still be maintai...

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LC - Letter Of Credit means a guarrantee given by the bank during the course of International Business

snehal

• Oct 18th, 2011

Letter of credit are often used in international transaction to ensure that payment will be received due to the nature of international dealing including factor such sa distance differing loss in each country

lulu

• Dec 15th, 2006

Its a gurantee given by the bank onbehalf its client

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vimala.s

• Sep 27th, 2011

It is the reconciliation of balances between branch to branch transactions or branch balances with Head office balances. For the transaction between the inter branch or with HO, generally there is del...

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vasudeo007

 Profile Answers by vasudeo007 Questions by vasudeo007

• Aug 18th, 2008

Costs are bifurcated into 2, Fixed cost and variable cost. In fact the third category also exist which is Semi variable cost.Fixed costs are those costs which do not vary with the production level. Li...

ramm.30

 Profile Answers by ramm.30 Questions by ramm.30

• Jun 12th, 2008

Variable cost varies with level of out put but the per unit cost of variable items is fixed.eg: production of "x" no. of units where the cost varies with no. of units produced.

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What is meant by EOQ?

Lakshmikanth Dandu

 Profile Answers by Lakshmikanth Dandu Questions by Lakshmikanth Dandu

• Jan 27th, 2011

Economic order quantity refers to the quantity to purchased every time so as to minimize total of two types of costs associated with purchase. The size of the order for which the total of ordering costs per annum and carrying cost per annum are minimum is know as the eoq.

kl_krupa

 Profile Answers by kl_krupa Questions by kl_krupa

• Oct 3rd, 2010

Economic order quantity is the level of inventory that optimises the total inventory holding costs and ordering costs.

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