Questions and Answers of Financial Accounting For Managers

Identify different categories of accounts and the rules for debits and credits.
Classify the following accounts as real, personal or nominal: 1. Bank Account 2. Furniture Account 3. Salary Account 4. Cash Account 5. Rent Outstanding 6. Bank Overdraft 7. Capital
Analyze the following transactions and pass necessary journal entries: 1. Goods sold to RS & Company for ₹ 450,000 on credit on 10th April 2017. 50% of goods returned by them on 18th April 2017
Kong Fuser Ltd prepares its financial statements on financial year basis. How would the following transactions during the year 2017–18 affect the Profit and Loss Account and Balance Sheet of the
What is the purpose of preparing Trial Balance? Explain its structure.
The followings balances were extracted from the books of Snow White & Co on 31st December 2017. You are required to arrange them in a Trial Balance. Particulars Purchases Capital Inventories
Dare Devil & Co is a small scale manufacturing unit. It procures semifinished goods and sells them after further processing. The trial balance and additional information as on 31st March 2017
Nominal accounts are closed out at the end of the accounting period whereas personal accounts and real accounts are carried forward to the next accounting period. Why?
Roney, a fresh management graduate has recently joined Seven Wonders & Company. He was asked by the Chief Accountant of the firm to prepare the Trial Balance for the year ended 31st March 2017.
Sun Pharmaceutical Limited is a leading pharmaceutical company of India engaged in research and manufacturing of drugs. It has over over 40 stateoftheart manufacturing sites spanning 6
What is EVA? Traditional approaches to measuring ‘Shareholder’s Value Creation’ have used parameters such as earnings capitalization, market capitalization and present value of estimated future

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