Financial State...

At the end of the year $$2008-09$$, the ledger of a firm shows following balances prepare their balance sheet.

On 1st October, 2011, a municipal tax of Rs. 1,000 may be paid for one year. If accounts are made up-to 31st March, 2012, taxes for six months (from 1st April, 2012 to 30th September, 2012), Rs. 500 will be treated as prepaid.
What is the journal entry to record the effect of above transaction ?

Carriage Inwards is shown in the statement of profit and loss under ___________ .

The primary objective of the trading account is to show the __________.

Trading account is a _________ account.

All accounts related to goods and direct expenses are recorded in ___________ account.

What is the journal entry for recording Outstanding wages ?

All items of revenue concerning current year - whether received in cash or not - and all items of expenses - whether paid in cash or not - are considered in which account ?

Control of management of the company mainly vests in hands of __________ .

A Profit is earned if _________.