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A company pays rates annually/yearly in advance on 1 April every year. $4000 is paid by them on 1 April 2009 and $4800 on 1 April year 2010. The company's accounting year end is 31 December.
What is the charge for rates in the 2010 income statement?
a) $4000
b) $4200
c) $ 4600
d)$4800
A light truck is purchased on January 1 at a cost of $27,000. It is expected to serve for eight years and have a salvage value of $3,000. Calculate the depreciation expense for t
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.”
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procedure followed in government system of accounting in india
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