Dear Sir/Madam

Opening debtors- Rs.50,000
Total Sales- Rs. 50,000
Cash received from debtors- Rs.30,000
Cash Sales- Rs.15,000
Sales Return- Rs.3,000
Bad Debts- Rs.7,000
Bills received from customers- Rs.15,000
Debtors at the end will be

(a) Rs.1,40,000 (b) Rs.1,30,000
(c) Rs.1,20,000 (d) Rs.1,50,000

What is the answer and how to calculate?

Dear Sir/Madam

R%ajesh of Ramnagar sends out goods costing Rs.2,00,000 to Gopal of Gujarat 3/5th of the goods were sold by consignee for Rs. 1,50,000. Commission 2% on sales plus 10% of gross sales less all commission exceeds cost price. The amount of commission will be

Ans: Rs.5,454.54

Please tell how to calculate?

Dear Sir/Madam

Debit balance as per cash book of Shyam enterprise as on 31.3.2006 is Rs.1,500. Cheques deposited but not cleared amount Rs.100 and Cheque issued but not presented of Rs.150. The bank allowed interest amounting Rs.50 and collected dividend Rs.50 on behalf of ABC enterprises. Balance as per pass book should be

Ans: Rs.1,650

Please tell how to calculate?

How can we treat the following situation, how it appears in accounts and what is the effect in the quantity and value of stock?

Sample raw material received from a party outside india through courier and all the expenses relating to it are met by the party who send the material.

Can any one provide details about IAS of various corresponding AS.
Foe Eg. AS-3 is cash flow statement and IAS -7 belongs to cash flow statement.

And is india is going to change from Accounting Standard to International accounting Standard?

TOP URGENT

Dear Team,

While calculating the net worth, whether we need to deduct the outside liabilities & unsecure loans from the assets?

Please anyone provide us with the Travel Agent/Tour Operator companies Annual Report???

1.opening balace of bat and balls is Rs. 1500
2.purchase during the year of bat & balls is Rs. 710
3.depreciation on bat & balls is 50%
4. sale of old bat & balls is Rs. 50
QUERY is that sale of old bat & ball should be treated as income and credited to income and expenditure account or treated as capital receipt, if yes/no than WHY?
if it is a capital receipt than whr we have to post it in the books of accounts of NPO.

I'm going to attempt C.P.T. Dec. 2010(2nd attempt) soon. Its been very long that I've been only preparing accounts since I was very weak in it. Now when the exam is near, I ask myself that am I really prepared ?
So I ask the experts the same query !

How do I know if I'm prepared for the C.P.T. exam's Accounting paper ? I study on my own.

Following is my preparation:

I know the basics very well.. Assets, Liabilities, Capital, Expenses & Incomes increase decrease.
Concepts-Assumptions
Book keeping is nicely done.

I know how to issue, forfeit, re-issue shares & over subscription..
I'm a bit confused in partnership when it comes to Joint Life Policy..

Depreciation's last part remains..
Consignment, Joint Venture & Inventories have so many different type of sums & this part is confusing me.

Do help !!

WORKING CAPITAL DIVERSION IS USING SHORT TERM SOURCE FOR LONG TERM PURPOSE.THE FINAL RESULTS IS THAT THE UNIT BECOMES SICK AND THE BANK LOAN BECOMES NPA. OTHERWISE,THE CC LIMITS DIVERTED FOR LONG TERM PURPOSE SHOULD HAVE BEEN BROUHT IN BY THE BORROWER.THIS TRANSACTION IS NOT BEING ACCOUNTED FOR AND NOT REFLECTING IN THE BALANCE SHEET AS THE AMOUNT OF CC LIMITS USED BY THE BORROWER FOR LONG TERM PURPOSE.AS A RESULT, THE USER OF THE BALANCE SHEET IS GIVEN WRONG IMPRESSION. WHY THE WORKING CAPITAL DIVERSION SHOULD NOT BE BROUGHT TO THE BORROWER'S BALNCE SHEET? SO THAT FURTHER RISE IN BANKS NPA CAN BE PROTECTED.