Category Archives: Accounting Solutions
Bank Reco in Excel Sheet
Hello Sir,
I requested you to Please forward me the excel sheet of Bank Reco if you have any in a Perfect manner with explanation.
Thanks & Regard,
Ajit Singh from India
Ajit Singh, there is not need of any excel sheet for learning of bank .
Is Depreciation a Direct or Indirect Expense
DEPRECIATION IS A DIRECT EXPENSE OR INDIRECT EXPENSE
WHY DEPRECIATION DEBITED TO P&L A/C
WHY NOT DEBITED TO TRADING A/C
Prakash from India
Prakash, any expense which is connected directly to the production or purchase, will be the direct expense. Any expense or cost which is not connected .
FORMAT AND HOW TO PREPARE STATEMENT OF AFFAIRS FOR LIQUADATING A PRIVATE LIMITED LIABILITY COMPANY
KINDLY AVAIL ME THE FORMAT FOR PRAPARING STATEMENT OF AFFAIRS FOR THE LIQUADATION OF A PRIVATE LIMITED LIABILITY COMPANY IN NIGERIA. I WILL APPRECIATE IF ANYONE THAT HAS BEEN PREPARED BEEN SENT TO ME FOR REFERENCE PURPOSE.
OLORUNJOO BAMIDELE from NIGERIA
Olorunjoo Bamidele, Statement of Affairs is .
Clear the Doubt of Journal Entry on Recovering Bad Debt
Dear Sir, there is one big doubt... you said that when account receivable,which is written off and after some time its recovered, in such situation.... as per you entry.... > cash/bank dr to a/c receivable as per my opinion.... > Cash/bank dr to bad debts.
Ankit from India
Ankit! I am trying .
Calculation of Cost of Capital
Mambo Ltd. Intends to raise sh 4800,000 from the different sources as shown
below
Sh.
Ordinary share capital(per value Sh.20) 2,400 000
8% preference shares capital (per value 12) 960,000
18% Bank Loan 840, 000
20% debentures of sh 100 each 600, 000
Total 4800 000
Additional information:
The .
Confusion in journal Entries
I am confusing in passing the entries pls advise me in simple manner.
Gururaja from India
Dear Rajas Guru, I am writing 2 tips, I hope, you will get idea for passing journal entries.
1st Tip : You should understand that journal entry is just one file which you have to keep in two place. Suppose, .
Need to Make Cash Budget Based on Following Data
Dear Sir ..I m from shimla doing PGD in Project management from Hyderabad University. Please solve the following problem based on the below data asap.
Jan Feb Mar Apr May June P October November December Total Sales of the previous year Sales forecast
Receipt Rs.
E October 1,20,000 January 80,000
Sales .
Journal Entry of Payment and Discount Allowed
Question : Mr. A paid Rs.1950 by cheque to y & co. allowed a discount of Rs. 50
Chiranjit Baardhan from India
Solution : Chiranjit! A has paid Rs. 1950 to Y, it means, Mr. A has taken something from Y. Y allowed discount as reward. So, this discount is the income of A. Y gets benefit .
Bad Debt Expense
At the end of 1st year of operations company has a closing balance of receivables amounting to Rs. 15,00,000.00. The company has a policy of 10% to cover risk against its receivables.
What will be the amount for which the entry will be recorded.
umer from Pakistan
Umer, we deduct new provision .
Entry of Purchase
Bought goods of the list price of 6000 from khanna bro. less 15 percent trade disc. and 2 percent cash disc. and paid 40 percent price at the same time.
Rajeev Kushwaha from India
We do not record the trade discount. We just deduct the trade discount and then we pass the voucher entry. In your .
Prof. Vinod Kumar has received the post graduate degree in Commerce from ...