Dear Sir/Madam

Thw net effect of all the Nominal Accounts in India?
(a) Profit & Loss A/c
(b) Trading A/c
(c) Capital A/c
(d) Balance Sheet

Please tell which is the answer and Explain?

Dear Sir/Madam

Goods sold to A Rs.40,000; Goods purchased from Rs.33,000. Transfer entry is required for-
(a) 7,000
(b) 40,000
(c) 33,000
(d) 73,000

Ans:(c) 33,000

Please tell how to calculate and how to post the entry?

Dear Sir/Madam

What is the journalentry for Depreciation when provision for depreciation exists?
(a) Dr. depreciation a/c & Cr.Asset a/c
(b) Dr. P&L a/c & cr. depreciation a/c
(c) Dr. Depreciation a/c & Cr. provision for depreciation a/c
(d) Dr. P&L a/c & Cr. provision for depreciation a/c

please tell which is the answer?

Dear Sir/Madam

Acccomodation bill is also called -
(a) trade bill
(b) promissory note
(c) kite bill
(d) bank note

plase tell which is the answer with explanations?

Mr. X obtains loan from bank Rs. 500000 and starts business. Then in the balance sheet will the loan obtained be shown as Capital as on first day Rs. 5 lakhs and Secured loan Rs. 5 lakhs? Please tell me..

Regards,
Devendra

Suppose we purchased a material from outside india @ USD 25 and exchange rate was 45 at that time but at the time of making payment the rate of USD went upto Rs. 46 per $, so how this should be treated in accounts, what will be the accounting entry that is to be passed.

In case of the Integrated system of accounting, how the following shall be treated, following the standard costing:

Suppose at the time of setting up the standards we have taken 100 kg of material say "A" purchased @ 30 per kg. But at the time of actual purchase we purchase 90 kg of material "A" @ 28 per unit and @ "32" Per kg. so how the accounting treatment shall be done.

Sir,

can anyone explain me on above said forms, when it is used in sale transaction and how to get this form from sales tax department.

TDS interest rate?

There are two group company A & B. In this case employee of co.A is working on behalf of Co.B. However employee is under the payroll of Co.A and the same is subsequently reimbursed by Co.B for the salary and other benefits paid by Co.A and Co. B also consider that in its books under payroll. Now for retirement benefits which company is suppose to comply with AS-15? Pls advice