31.52% stake along with NTPC as equal partner in JV company‚ RGPPL at Dabhol which operates largest gas based power generation facility in the country and is also setting up 5 MMTPA LNG terminal. Keeping in mind the requirement of growth and consolidation as well as opportunities arising out of New Exploration Licensing Policy (NELP) of Government of India‚ the company has moved into upstream of gas value chain i.e. Exploration & Production and currently has
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double entry accounting system‚ a business transaction affects at least two accounts and the debit and credit amounts recorded for the affected accounts must be balanced. These transactions will be recorded in the appropriate books of accounts. Business entities develop a chart of accounts‚ a list of account titles with their corresponding account codes that the business will use in recording and posting in the books of accounts and in reporting in the financial statements. Double entry system:
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CHAPTER 2 DOUBLE ENTRY SYSTEM AND BALANCING OFF THE LEDGER OBJECTIVES. At the end of the chapter reader is expected to understand - what a double entry system is - peculiarity of double entry system in accounting. - how a transaction can be posted in order to adhere with double entry system. - what make up a ledger - how ledger can be balanced up. INTRODUTION To make a relevant disclosure of transaction in accounting sense‚ it is necessary to open up all the items affected by a transaction
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Cash 9‚800 3‚920 3‚920 5‚880 120 6‚000 13-3 Bob Anderson‚ 2004 13-4 Notes Payable April 1 Journal Entry ? Trucks Cash Notes payable Debit 30‚000 Zero Interest-bearing Note Written promises to pay a certain sum of money on a specified future date. No such thing as 0% interest‚ always “impute a rate” if the stated rate is different than a reasonable rate. Credit 4‚000 26‚000 Any entry required at April 30 ? Interest expense 260 Interest payable ($26‚000 x 12% / 12) Example -On May 1‚ the
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Adjusting Entries Yvenie Desire ACCT205-1203A-11 June 9‚ 2012 Adjusting Entries Welcome to the company and as an accounting clerk for the department you will be working a lot with the accounting department and with me. I will be mentoring you on certain aspect of accounting and what needs to be done. First we’ll get started with why adjusting entries are necessary. “Adjusting entries ensures that the correct amount of revenues and expenses are recorded in a specified time period.” (Editorial
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journal entries. We will discuss the importance of the journal entries. Next‚ we will talk about their effects on the financial statements. Finally‚ we will summarize what we have learned about journal entries. A journal entry is the record of financial transactions recorded into a journal. This journal gives details about all the financial transactions of a business and tells which accounts these transactions affect. The transactions are initially recorded in the journal using the double-entry or single-entry
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ECO-561 Week- 5-TEAM PAPER Recommendation for pricing strategy‚ product differentiation and barriers to entry during Trough: U. S. economy entered its 10th recession in late 2007 since 1950 and still recovering from recession in 2010. The rise and decline in the level of activity are called business cycles. Business cycles occur because disturbances to the economy of one sort or another push the economy above or below full employment. Four phases of business cycles are Peak‚ recession‚ trough
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Acquisition of legal subsidiary in bankruptcy According to the fact of this case‚ Parent Co. (Parent) wholly owns Poor Son Co. (Poor Son) as a legal subsidiary‚ and both of them all nonpublic companies. However‚ in January 2007 Poor Son filed a voluntary bankruptcy under Chapter 11 of the U.S. bankruptcy code because of its inability of meet obligations as they became due. Then‚ Parent claimed the loss of control of Poor Son and deconsolidated Poor Son from its financial statement. Through the
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Barriers to Entry & Exist: A case study on Singapore Power. Singapore Power was first created to take over the electricity and gas business of the state provider‚ the Public Utilities Board in 1995 and was once considered as the only electricity company in Singapore. However‚ in 2001‚ Singapore Government took further steps in industry reform: separation of the natural monopolies (i.e. grid) from the competitive domain (i.e. generation and retail) in order to encourage competition and drive firms
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Introduction to Book-keeping Fill in the blanks in the following sentences from the selection of terms given at the bottom of the page. 1 The recording of accounting data is known as . 2 A change in the position of a business‚ i.e. the transfer of value from one to another‚ is a . 3 A person to whom money is owed for goods is a . They have given the firm ___________. 4 A person who owes money to the firm is a . They are in ______ to the firm. 5 Resources supplied by the owner is called ____
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