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Final Accounts
Accountancy
answered on 06-Oct-21 20:26
What will be the treatment of Provision for Depreciation on Machinery on 1.1.2013 â?¹ 800 in the Credit side of the Trial Balance ?
latest answer
I have no sufficient money
Aditya Birla
CBSE XI
★ 4K+
25
728
Final Accounts
Accountancy
answered on 05-Oct-21 16:06
Some please help me by preparing the Profit and Loss Account.my answer don't match with the real answer given in the book.Gross profit is 28650 and Net profit is 16300. Balance sheet total is 58800.
latest answer
Depreciation on building - Rs. 1,000 to go to PL. This will not impact the balance sheet.
Aditya Birla
CBSE XI
★ 4K+
14
800
Rectification of Errors after preparation of Trial Balance
Accountancy
answered on 04-Oct-21 21:02
Are all my entries correct ?
latest answer
No bro
Aditya Birla
CBSE XI
★ 4K+
10
497
Final account
Accountancy
answered on 05-Oct-21 11:37
What is the effect of this error on final accounts? Purchases include sales return of 10,300 and sales include purchases return of 6,900.
latest answer
Thanks mam
Rakesh Shah
CA Final
★ 5K+
13
3K+
Final account
Accountancy
answered on 03-Oct-21 22:43
What is the meaning of this 'Salaries payable'?
latest answer
It is same as salary outstanding... expense incurred but not paid which is a Liability so dr in p/l and balance sheet Liability side
Rakesh Shah
CA Final
★ 5K+
1
395
BOE
Accountancy
answered on 09-Oct-21 10:25
Suggest this answer by meaning: Davidâ??s acceptance to Samuel for ` 5,000 discharged by a cash payment of ` 1,000 and a new bill for the balance plus ` 100 for interest.
latest answer
Yes. Cancel bill of 5000 B/R A/c Dr 4100 Cash A/c 1000 To B/R A/c 5000 To Interest Income 100
Rakesh Shah
CA Final
★ 5K+
2
418
Account
Accountancy
answered on 06-Oct-21 10:19
Explain the meaning of this full sentence: credit notes at invoiced value of ` 3,000 had been issued to customers in respect of goods returned during that period
latest answer
When you sell goods - you issue an invoice and money is receivable. When goods are returned a credit note issued in favor the original buyers and that credit notes knocks of the receivable in the account of the Debtors. Credit notes are issues for sales returns, discounts given to our debtors etc
Rakesh Shah
CA Final
★ 5K+
2
391
Inventory
Accountancy
answered on 05-Oct-21 10:43
Please explain highlight sentence
latest answer
Adjustments required for Inventory valuation (1) sales returns of next year with Rs.300 mark up included in stock (2) slow moving stocks to be written down by 600 (ie. 1125-526) (3) stock to be written down by 300 to its realisable value (i.e. 1550 -1250)
Sejal Shivani
CA Foundation
★ 5K+
9
415
Inventory Please solve this sum
Accountancy
answered on 03-Oct-21 20:43
Please solve the sum
latest answer
:)
Dhakshana Dhakshana
CFA L2
★ 18K+
13
434
Depreciation Help me
Accountancy
answered on 03-Oct-21 17:21
What should I take as year end for calculating Depreciation? Is it Dec or Mar?? Calander year or financial year friends?
latest answer
Thank you mam
Dhakshana Dhakshana
CFA L2
★ 18K+
2
352