Goods/Stock purchased or sold being returned is quite a common practice in business. This may be on account of a number of reasons like defects in goods‚ quality not matching the requirement for which the buyer purchased it‚ the buyer not needing the stock‚ etc. This happens both in case of goods purchased as well as goods sold by the organisation. Where the goods sold are being returned we call it "Sales Returns" and where goods purchased are being returned we call it "Purchase Returns"
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AEREN FOUNDATION’S Maharashtra Govt. Reg. No.: F-11724 AN ISO 9001 : 2000 CERTIFIED INTERNATIONAL B-SCHOOL SUBJECT: ACCOUNTING Total Marks: 80 N.B. : 1) All questions are compulsory Q1) ABC Ltd. Produces room coolers. The company is considering whether it should continue to manufacture air circulating fans itself or purchase them from outside. Its annual requirement is 25000 units. An outsider vendor is prepared to supply fans for Rs 285 each. In addition‚ ABC Ltd will have to
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company issue a share having face value of Rs 10 at Rs 8 Give two examples of ‘Capital receipts’. Give two circumstances in which sacrificing ratio may be applied (1) (1) (1). (1) (1) Show how you would deal with the following items in the final accounts of a club: (3) Debit credit Prize fund Prize fund Investments 1‚20‚000 Income from Prize fund Investments Prizes awarded 9000 Q7. 1‚20‚000 12000 A‚B and C are partners sharing profits and losses in the ratio of 1 : 2: 3. They have omitted interest
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Food Packaging Worksheet: Nutrient Claims‚ Nutrition Facts‚ and Ingredients This worksheet can help you learn how to read food packaging. What you will need : • This worksheet • A food package that includes nutrient claims‚ nutrition facts‚ and a list of ingredients • A handout that includes criteria for specific nutrient claims (ie‚ low sugar‚ reduced sodium‚ etc) Food item: Smoked Whole Almonds Great Value Brand How many servings are in this package? 16 What is the measurement
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Corporation SWOT analysis for 2013. For more information on how to do SWOT analysis please refer to our article. Company background Name | Microsoft Corporation | Industries served | Computer software‚ Electronics | Geographic areas served | Worldwide | Headquarters | U.S. | Current CEO | Steve Ballmer | Revenue | $ 73.72 billion (2012) | Profit | $ 16.97 billion (2012) | Employees | 94‚000 (2012) | Main Competitors | Apple Inc.‚ Google Inc.‚ Samsung Electronics Co.‚ Ltd.‚ International
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MINOR PROJECT REPORT ON INFLUENCE OF PACKAGING IN BRAND SELECTION IN TOOTHPASTE INDUSTRY SUBMITTED TO: SUBMITTED BY: Mr. Paramveer Singh Ashish Garg (LECTURER) BBA (B&I)‚ III -SEM
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profit and unappropriated profit. what is the accumulated profit and why do accountants and bookkeepers use different names for the same thing? (6 marks) Accumulated profits is profits that are not paid as dividend but is transfered over to the accounts for the next year. Also can be used to reinvest in the core of the business to help pay off debts or to purchase a capital asset. The reasons why accountants and bookkeepers use different names for the same thing is because bookkeepers are the people
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Chapter 2 Worldwide accounting diversity Chapter Outline I. Considerable differences exist across countries in the accounting treatment of many items. These differences can result in significantly different amounts being reported in the financial statements prepared by companies using different GAAP. II. A variety of factors influence a country’s accounting system. A. Legal system – in code law countries‚ accounting rules tend to be legislated; common law countries tend to have
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IMPROVED REWARDS AT WORK 1 Running head: New and Improved Rewards at Work New and Improved Rewards at Works HRM 533 Total Rewards Dr. Mary Ann Wangemann Strayer University
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Transactions Show Journal entries to record the following transactions. Post them into appropriate Ledger Accounts and then extract a Trial Balance on 31st December‚ 2012: 2012 Jan 1st: Commenced business with cash Rs 1‚00‚000. Jan 10th: Bought office equipment worth Rs 40‚000. Jan 25th: Purchased goods worth Rs 25‚000; less 10% trade dis. on credit from Rahul. Feb 4th: Purchased office stationary worth Rs 500. Feb 9th: Paid premium for fire insurance Rs 5‚000 Feb 20th: Sold goods on
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