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?

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 !!

Dear All
Pls suggest at what value C-Form issued?
Basic Amt+cst=gross
Basic Amt+ Exices + cess +cst=gross
Basic Amt+ Exices + cess + freight +cst=gross

As an investment advisor you have been approached by a client called Ramesh, who wants some help in investment related matters.
Ramesh is currently 45 years old and has Rs 6, 00,000 in the bank. He plans to work for 15 more years and retire at the age of 60. Ramesh’s present salary is Rs 4, 00,000 per year. He expects his salary to increase at the rate of 12% per year until his retirement.
Ramesh has decided to invest his bank balance and future savings in a portfolio in which stocks and bonds will be equally weighted. Assume that these proportions will be maintained by him throughout. He also believes that bonds will provide a return of 7% and stocks a return of 13%.
Once Ramesh retires at the age of 60 he would like to withdraw Rs 5,00,000 per year from his investments for the following 15 years as he expects to live up to the age of 75 years. He also wants to give Rs 10, 00,000 to his children at the end of his life. How much money would he need 15 years from now?
How much should Ramesh save each year for the next 15 years to be able to meet his investment objectives spelt out? Assume that the savings will occur at the end of each year.
Suppose Ramesh wants to donate Rs 2, 00,000 each year in the last 3 years of his life to a charitable cause. Each donation would be made at the beginning of the year. How much money would he need when he reaches the age of 60 to meet this specific need? Ignore the tax factor to answer these questions.