Awesh Darekhan

• Sep 13th, 2017

Accounts is the process of recording business transaction (journal,ledger,trail balance,trading a/c,P/L A/C)

Finance is an art and science of managing money

Akshay Raut

• Dec 18th, 2016

Accounting: Is the art of writing the day to?day transaction in books of accounts.

Finance: How to raise money & funds for company

Answer Question  Select Best Answer

What is the diffrence between Travelling and Conveyance

Chinchu

• Sep 1st, 2017

Travelling expenses means expenses related to travel from one place to another place by person for the purpose of business.

Conveyance means expenses related to travel from place of living to Office or workplace and return to place of living.

Chinchu

• Sep 1st, 2017

Travelling expenses means expenses related to travel from one place to another place by person for the purpose of business.

Conveyance Means the expenses related to travel from the place of living to office or workplace and return to place of living.

Answer Question  Select Best Answer

Ramesh bought the machinery for 100000 and annual depreciation is 10% on diminishing value method,11 month he sold the machine for 20K. Pass the appropriate journal entries..

Jasir

• Jul 26th, 2017

Depreciation a/c dr 9,167.00
Cash a/c dr 20,000.00
P/L a/c dr 70,833.00
To Machinery a/c 100,000.00

UMA

• Jun 24th, 2016

Cash A/C 20,000
P/L A/C 15337
machinery A/C 35,337

Answer Question  Select Best Answer

favas pakkada

• Jul 8th, 2017

A bank reconciliation statement is a summary of banking and business activity that reconciles an entitys bank account with its financial records. The statement outlines the deposits, withdrawals, and other activity impacting a bank account for a specific period

rajesh

• Jun 28th, 2017

It is a statement which shows difference between passbook and cashbook

Answer Question  Select Best Answer

Why do we record salary provision, although we know the exact amount of salary payable?

Shubhi tiwari

• May 21st, 2017

For preparing salaries and wage bills

Nelson

• Aug 30th, 2016

If the salary incurred and settled for current month, than there is no need of providing the provision, we have to pass provision in case if salary incurred in current month and settled in next or sub...

Answer Question  Select Best Answer

What is General Ledger Reconciliation?

Rajesh

• May 17th, 2017

The general ledger is the main accounting record of the company. Consequently, general ledger reconciliation is the process of ensuring that accounts contained in the general ledger are correct.

VIRENDER KUMAR

• Apr 7th, 2017

General ledger account balances with other independent systems, statements, and reports, to verify that the balances are correct and accurate

Answer Question  Select Best Answer

Mr.x purchased a building for 55 million dollars and took depreciation on it for complete 39 years and now his son want to sell the building but as he claimed the amount for complete 55 million through out the years. On what basis now he need to sell the building. For only 55 Million or For How Much?

veena

• May 9th, 2017

55 million dollors and above

Answer Question  Select Best Answer

nave een

• Feb 21st, 2017

CST (Central Sales Tax) is a form of indirect tax imposed only on goods sold from one state to another state, which particularly takes into account that the buyer and the seller needs to be in two dif...

Manjunath

• Dec 28th, 2016

When we are selling goods to another state, CST is applicable
GST is applicable all over India and same VAT rate will be applicable

Answer Question  Select Best Answer

Where do you put non current lease payment on a statement of cash flow?

samanth

• Feb 12th, 2017

It is a statement depicting change in cash position from one period to another period

steadyshot23

 Profile Answers by steadyshot23 Questions by steadyshot23

• Mar 18th, 2010

You put the non current lease payment in the financing Activities.

Answer Question  Select Best Answer

How would you do the Debtors & Creditors Reconciliation manually?

What are the steps you do for Debtors & Creditors Reconciliation manually?

I want to know TDS will be collected in what percent. Service Tax in what percent generally they will collect. And other taxes also.

Manjunath.kotagi

• Dec 4th, 2016

For service rendered invoice we need to deduct TDS, if vendor Pan# 4th letter is P we have to deduct 1% on base amount, if 4th letter is C or F or any, we need to deduct 2% TDS, if the invoice related...

Answer Question  Select Best Answer

What is Account Payable and Account Receivable Reconciliation?

Aman pal (Amit bhagel S.P)

• Sep 15th, 2016

PERSONAL A/C
-DR.is the receiver
-CR. is the giver.

NOMINAL A/C:
-All expense & losses are DR.
-All income, profit & gain are CR.

REAL A/C:
-DR. whats come in.
-CR. whats goes out .

manish kumar

• Apr 28th, 2016

Personal A/C - debit the receiver
Credit the giver
Real A/C - debit whats comes in
Credit whats goes out
Nominal A/C - debit all expenses &losses
Credit all income & gains

Answer Question  Select Best Answer

A person conducts business of cell phone but unfortunately some cell phone is damage and are not able to sales.

He recorded this loss in books of account through this below general entry of loss amount.

Cost of sales account (Dr.)
Inventory account (Cr.)

Is the above entry correct or not?
If not then tell how will you record...

Salah

• Aug 26th, 2016

If the damage is immaterial, the JV is right but if it is material then you must raise another JV.

Answer Question  Select Best Answer

What actually is a nominal ledger. I agree that a NOMINAL ACCOUNT includes all the profit losses purchase and sale But As a nominal accounts are kept inside nominal ledger, my accounting book has included CAPITAL as being in nominal ledger. Please explain what actually is it. What is the difference between nominal ledger and nominal nominal account. and how capital is in nominal account.

How do you calculate Redundancy payment?

What GL accounts are impacted during a typical Order to Cash process? During the Sales Order stage, the Fulfillment stage, Invoicing Stage, etc.

How to pass a JV when we receive bill including service tax? How to close this a/c?

Rajesh

• Mar 12th, 2016

2nd Jv is wrong
Service tax liability A/C Dr
To, Bank A/C Cr

Amitabh Singh

 Profile Answers by Amitabh Singh Questions by Amitabh Singh

• Apr 21st, 2009

Service Tax would be credited by debiting the vendor's A/c bill wise for the whole time period of say one month or one quarter etc. and at the time of payment the Service Tax A/c would be debited by crediting the payment source A/c say Bank or cash.

Answer Question  Select Best Answer

AMIT KUMAR SINGH

• Jan 17th, 2016

If an asset is purchased during the financial year and it is not been put to use even for a single day, then the depreciation cant be claimed. If its been use even for a single day then the depreciation should be charged for 180 days.

Navjot Singh

• Oct 7th, 2015

The assets which is used for business purpose in the previous year then we can claim depreciation otherwise we cant.

Answer Question  Select Best Answer

Describe a time when you had to handle a complex financial project with tight deadlines that required precision?
Application of relevant laws, codes & regulations ?
Auditing principles & practices ?
Analysis & reporting of financial data?