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 .

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 .