Accounting for ...

Receipt and payment a/c starts with.....

Which of the following would appear as an operating expense in the Profit & Loss Account of a trading firm?

M/s. ABC Associates sent goods worth Rs. $$1,00,000$$ on $$11$$th March on reject or approval basis. Out of these goods worth Rs. $$40,000$$ were accepted by the customers till $$31$$st March and the remaining were still pending with the customers as on $$31$$st March. How would you deal with the goods lying with the customer as on $$31$$st March assuming that the goods were involved @ $$25\%$$ profit on sales.

The Capital of ABC associated was Rs.$$25,000$$ as on $$1.1.2013$$ which rose to Rs.$$55,000$$ by the end of $$31.12.2014$$. The increase in capital of ABC associates may be due to......

Not-for-Profit organisations prepare balance sheets for ascertaining the ________ position of the organisation.

Entrance fees may also be called as _____________.

In determining the income of _________ people use receipts and expenditure account.

Sale of old asset by non-profit organization:

Which of the following is correct treatment of life membership fees received by non-profit organization ?

Life membership fee is a ________________.