Miscellaneous Degree Bookkeeping Question

by NILESH
(SURAT,GUJARAT,INDIA)

Miscellaneous Degree Bookkeeping Question

I have B.E DEGREE not B.TECH. So will I be able to do M.TECH or I would have to do M.E.?

CPU

by raj
(thane)

What is CPU?

Coffee

by Lupe
(Houston, TX, US)

Under what category does coffee fall under?

Thank you for your question about coffee. If the coffee expense is provided for staff in the office you can deduct it as an Office Expense or Employee Benefit Expense.

IAS 16

by Toivo Laurence
(Tanzania)

a) a company buys an aircraft for Tshs 9,ooo,ooo.under civil aviation rules, the aircraft requires a major inspection every 3 years at a cost of Tshs 200,000.three years after the purchase it undegoes its fist major inspection. the cost in relation to the inspection amounted to Tshs 220,000.
b)On 1/6/20009, a company spent Tshs 100,000 to replace the wall lining of one of its two furnaces. the furnace had been acquired six years previously and had a carrying value, at 1/6/2009, amounting to Tshs 420,000 of its amount, Tshs 20,000 relating to the original walll lining.
REQUIRED:
Explain how each of these matters should be accounted for in accordance with the requirements of ias 16.

Jesus 20th Century

If jesus were a 20th century American rather than a 1st century Galilean Jew, where do you think he would choose to go and with whom would he associate? what might he be saying and to whom he be saying it? how might he respond to the many churches that claim to be his disciples in the world today? how do you think he would respond to people of religions other than christianity and people who are not religious at all?

myob

I work in a cafe and the lady owner pays alot of her suppliers with cash. how do i enter thse reciets into myob?

The money is not her personal funds the money just comes from the shop takings.

Narration

by mwalye
(zambia)

What is a narration?

Hello Mwalye,

Thank you for your question.

Narration is the act of telling a story or giving an account of something

New Signage

by Pam McDonald
(Brownwood, Texas)

I have put a down payment of $670.50 on a new back-lit sign. I will pay $212.66 for 36 months.

I was told to expense the payments and at the end of 36 months, to depreciate it.

I am uncertain as to how to enter this (these) transactions. Will you help?

Hello Pam,

Thank you for your question.

Are you putting the signage into immediate usage? Typically, you start depreciation when the asset is put into use not at the end of the loan. In your case, I believe you can start depreciating the full price of the asset as long you record the loan at the time of the initial payment. For example:

Your initial payment of 670.50 would be recorded as:

CR 670.50 Cash
DR 670.50 Signage (asset)

While your outstanding loan of 7655.76 (212.66 multiplied by 36 months, assuming no interest) would be recorded as:

CR 7655.76 Signage Loan Payable
DR 7655.76 Signage

This would give you a new asset total of 8326.26 to start depreciating the year you put it into service.

Meanwhile, your loan payments each month until paid off would be recorded as:

CR 2551.92 Cash
DR 2551.92 Signage Loan Payable

If you would still like to expense the payments and depreciate at the end of the 36 months you would do this as follows:

The initial transaction would still be:

CR 670.50 Cash
DR 670.50 Signage

Then each payment would be recorded as:

CR 212.66 Cash
DR 212.66 Signage

And at the end of 36 months, when the signage account balance reaches 8326.26, you would start depreciating.

Provision For Future Obligation

by Sundar
(Australia)

I shall thank you to advise me on the following.

Last financial year $500 was provided to meet the auditor's fee and other contingencies. The entries were

Dr Contingent Expenses $ 500.00
Cr. Provision for Contingent Expenses $500.00


This financial year $ 300.00 was paid as Auditor’s fees (relevant to last financial year). How should the entries be?

Quarterly

How do I know when the quartely starts and ends?
Is it January thru March 1st quarter, Feb thru April 2nd quarter etc?

Questions

Rajaram quit his job and started woodcraft comopany ( Service Firm) The transactions of the business for september are as follows.

Sep 1 Began Business by investing cash Rs 10000 in exchange of 1000 shares
4 Paid two month Rent in advance for a shop Rs 2000
5 Bought Equipment for cash Rs 1200
7 Bought Supplies on Credit Of Rs700
10 Recd For remodelling a Kitchen Rs 8600 ( Revenue From Service)
14 Paid for Advertisement that appeard in local newspaper Rs 1400
17Recd for Furnishing an office room 11.200 ( revennue from service)
23 Billed customers for work done other than cash Terms Rs 13.100
25 Piad wages to assistant Rs 1500
28 Paid electricity charges Rs 240
29 Recd part payment from custoerms Billed on 23 Sep Rs 4,800
30 Declared and paid a dividend Rs 2500

Journalise above transaction and post to necessary ledger account and create trial balance.

Quick School Question

On August 4, Sanders provides services to Frederickson for $5,000, terms 3/10, n/30. Frederickson pays for the services on August 12. What amount would Sanders record as revenue on August 4?

Research

1. Can you describe a typical day of a bookkeeper?
2. What advice would you give someone thinking entering this field?
3. If you had to do it all over, would you stay in your field?

Roadway and aba's

Can roadway renovation on a farm be classed as agricultural building allowance?

Sage 50

by IAN
(LINCOLN .UNITED KINGDOM)

In sage 50, where do i find the suppliers payment wizzard, and which box on the suppliers window do i bring the payment wizzard up.

also i would like to know how to edit new customers to an nominal account. i would appreciate it very much if you would reply. thank you. IAN.

sarika

by sarika singh
(hyderabad)

I want to ask that how I know that my accont is correct or not and my cash is credit and bank a/c in debit and at the time of cash entries it is showing that negative balance in cash and I bought cash in business on interest what is the entry?

Small Chapters Under One Large Umbrella

by Janice
(North Carolina)

We are a growing networking group that has now branched off into another chapter. We see this growing even further and new chapters branching out all over. Our question: How do we set up our bookkeeping to accomodate new member registration to the umbrella account while allowing each individual chapter to maintain their own checking account? Can the same EIN number be used for the over riding account as the smaller accts?

Term of Overcast?

by Kelly marvell
(Spilsby lincolnshire uk)

What does the term overcast mean???

The Killer of Newspaper

by Cody Terrell
(Chesapeake,VA,USA)

What is the ultimate killer of the newspaper business?

TWC

by Jenny
(Houston, TX usa)

I work for a company in texas. we are required to pay taxes to the texas workforce commission which have not yet been done. My question is, what would these taxes be coded as?

uiz 1

Transfered 1700 from the bank to cash what side would I put the transaction debit or credit?

Valuation

Two partners owned one business and then brought in a 3rd partner and purchased a similar business and restructured ownership and debt of previous company.

I would like to see if you could halp me assess a value to each partner. Whether it be net worth or however you would normally look at the situation.

A B C

Bus. Est. Value
& Work. Cap. 748,480 1,590,520 0

Bus. Debt. (162,240) (344,760)
-----------------------------------------

New Purch. &
restructure +1,590,520 +1,632,000 +408,000
(1,590,520)

New Debt
Restucture (492,240) (1,586,760) (217,000)

Cash Outlay (80,000) (170,000)
-----------------------------------------------------------

What Do I Do When Im 14 Years Old And Pregnant?

by Maddie
(California)

I'm pregnant and I'm 14 years old. What do I do? I don't know how to tell my parents and can something go wrong?

Hi Maddie,

Bless you! I can understand if you are feeling scared and confused. I am really glad that you are asking for help.

The best way to tell your parents is to be honest and direct. The sooner the better as you need and diserve emotional support with what you are going through.

It is always best to be seen by a medical professional when you are pregnant to insure that everything is going well with you are you child. They will also be supportive and offer you lots of valuable advice.

Please let your family know right away take care of yourself sweetie!