Q:- 1 What are the different in trading and non trading a/c? and what the uses of single entry system and Double entry system? sir i request you to please explain to me by example.
Ganesh Mule from India
Answer : Trading account is used in buying and selling business and not trading account is used in service sector where we make profit and loss account only.
Q:- 2. Can tally be used for business made for hire of inventory on days base where unit shall be rs/day/unit please guide how can be the entry made in for different godown renting the inventories to different parties getting material on hire for different days
S.G. Patel from India
Answer : I think we can give godown for renting not inventory. Are you sure inventory is on renting. Please tell me first. If godown for renting, you can pass the voucher entry of receipt in tally.
Q:- 3. How would I be able to locate practically where is the amount of Reserves shown in balance sheet?
Kanchan from India
Answer : Reserves will go to the liability side in balance sheet.
Q:- 4. How does one account for provision for depreciation?
Brian from Zimbabwe
Answer : If we are interested not to deduct depreciation from asset every year, we transfer every year's depreciation of fixed asset to a account that account is called provision for depreciation account and when we will sell that particular fixed asset we will deduct all the total amount of provision for depreciation from that asset for calculating profit or loss on that asset.
Q:- 5. What is the relationship between required rate of return and coupon rate on the value of a bond.
Vaidesh from India
Answer : I think coupon rate on the value of a bond is the interest rate for bearer bond but rate of return is market rate. Not sure, soon, I will update exact.
Q:- 6. How to make entry in tally A/Cs for goods lost by rain in trading A/c?
H.K.K. from India
Answer : Just pass the voucher entry in journal voucher Dr. will lost by rain and credit either stock or purchase account.
Q:- 7. My Company is Labour Contractor we supply labour to other companies. we provide advance salary in cash so i would like to know which group should be given to Advance Salary? & after payment of monthly salary how advance should be deducted from salary account
Amit from India
Answer : No need to create any group, just pass the voucher of payment when you pay and receipt when you receive money from party. Ok
Q:- 8. Please help me by answering this, in Internet from where i can get videos related to company accounts, costing and management accounting. general law videos. Please some1 help me with answer thanks u
Prasad from India
Answer : Visit my svtuition channel on youtube and search law videos on youtube and choose the option playlist and you will surely find good videos.
Q:- 9. How to take confirmation of balance letter in Tally 9 without printing date on the letter.[In tally we are getting confirmation of account]
Mala from India
Answer : I could not understand, what you want to ask. Please explain clearly.
Q:- 10. Hello Sir, I saw this website through google search engine. This is very helpful to every those person who want to know to have about additional knowledge in account. My question is i face my interview on 24th May-2011 there they asked me question- do you know how to make financial report, budgeting,& company reconciliation whether it has its own branches or not And also how to make E-Return filing of TDS TCS ST EXCISE or VAT? Which documents are required for return filing if it make manually or online? And how can i face my Interview if I want job in MNC's ?
KRISHNA KANT from India
Answer: Thanks dear for your words. Do regular study of all these topics and one day, you will surely perfect in these topics. My best wishes are always with you.
Q:- 11. Sir, I am working as an accountant in a construction Co.I want to purchase simple & easy Taxation book including TDS,VAT,Income Tax etc.Pls suggest a book
Sheeba T.J. from India
Answer : You can buy any book. But study more than one author's book.
Q:- 12. What is the difference between bonds, shares and stock?
Sam from Ghana
Answer : If you buy bond, it means you give loan to company. If you buy shares, you give capital to company. If you buy stock, it means you have given capital in some groups of shares.
Q:- 13. Discuss the objectives of costing?
Prasun from India
Answer : Costing is useful for calculating correct cost.
Q:- 14. when a new partner enters in the firm and brings a part of cash of his actual goodwill then whether we have to debit new partners capital account or current account according to the recent amendments in goodwill??????????? and why???????
Anchal Bansal from India
Answer : I will soon answer your question in your email after taking some reference, please wait. Thanks for your patience.
Q:- 15. can u let me know the treatment of normal loss and abnormal loss of stock in the HO, branch and combined income statement..i would appreciate if u could provide the formal of the income statement as well..thanks for ur help^^
Yat Kunt from Malaysia
Answer : Normal loss can increase the cost of stock in HO, branch and stock mention in combined income statement. But we treat abnormal loss as the loss of business and will show it in income statement's operating expenses side.
Q:- 16. I hv no que. Regarding the topic.......but i just want to take permission for using the content ..May i use ?
Abhi from India
Answer: Of course, you can use any content for reading and printing.
( Important Note : Video solution can be seen at here)