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You have been asked to ready a bill for services. What information should be contained in the bill?
Ans) Service Provider's Details (i.e) Organization name and address.
Service Receiver's Details (i.e) Organization name and address. Details of the service (i.e) for eg: Advertisement charges/Dying charges Tax (i.e) Service Tax on total chargeable amount and cess or sur-charge on service tax. And if there is any Expenses or abatements incurred by the service receiver less all those things and determine service Tax and the cess for the balance amount.
Q. Define Gains and Losses? Gains are raise in equity net assets from peripheral or incidental transactions of an entity as well as from all other transactions and other events
what is accrued revenue
Q. Explain Merchandise in transit? Merchandise in transit is merchandise in the hands of a shipment company on the date of a physical inventory. As stated above buyers should
The beginning capital of the business totals $4,000. If the net income for the period totals $14,000 and the withdrawals by the owner total $3,000, what will be the new capital b
State about the Cash payments journal A special journal used to record any payment of cash. There would be a check number given to be recorded in journal as well. Source docume
It is reduction of taxes where from the income is produces and regarding services to be taxed there are about 120 services which are taxed in India for provision of service tax
Establishing the Change Fund Change Fund (asset) is debited and Cash is credited. Only time this fund would be used is if the fund is established or increased, just like Pet
Q. FIFO under perpetual inventory procedure? FIFO under perpetual inventory procedure in perpetual inventory procedure the ending balance in the Merchandise Inventory account r
Fund flow deals with transaction within financial year (One year) while Cash flow Statement record only the cash transaction.
Provide an argument for including or not including current liabilities in the cost of capital calculation
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