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Show the rectification entries for the following: (10 marks)
a. The Sales account is undercast by Rs.15,000
b. Goods returned by the customer Mr.X of Rs.5650 has been posted in the Return Inward Account as Rs.5560 and in Mr.X a/c as Rs.6,550.
c. Salary paid Rs.6,000 has been posted to Rent account
d. Cash received from Ram posted to Shyam account Rs.7,000
e. Cash received from Jadu Rs.8,640 has been posted to the debit of Madhu's a/c
Steps in preparing the consolidated balance sheet Step 1 : Prepare the 3 important accounts i.e. cost of control to determine goodwill Group retained profits Mino
Ask question Sean Corp. issued a $60,000, 10 year bond at the face rate of 8% annually on 1/1/X0. The market rate was 10%. How much cash will the bond investors receive at the end
ABC Corportation purchased $15,000 of office furniture by putting down $7000 soqn in cash and the rest on accout
ACQUISITION OF A SUBSIDIARY COMPANY DURING THE YEAR When the holding company acquires a subsidiary company portray during the financial period, and then the approach to preparing
DO ACCOUNTANTS EVER REALLY MAKE IMPORTANT DESIONS?
Accounting concepts The word 'Accounting Concept' is used to denote necessary assumptions and ideas which are basic to accounting practice. The variety of accounting concepts i
what are the activities?
Completely and incompletely constituted trusts In all cases the trust must be completely constituted. A trust is completely constituted when the trust property has been vested
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The twin objectives of inventory management are financial and operational. The operational objective implies that the materials and spares would be obtainable in sufficient quantit
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