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Departmental Accounts 8.000 1.000 44.400 You are required to prepare Departmental Trading and Profit and Loss Account for the year ended 31st March.000 Labour . C: Closing Stock ` 8.000 4.000 8.918 Working Notes: Calculation of Unrealised Profit on Closing Stock: Dept.500 750 1.000 1.000 By 6.11.000 3.000 22.s`
Unit 1 : Departmental Accounts (A) Write short notes on: Question 1. Basis of allocation of common expenditure among different departments. (4 marks) (Intermediate–Nov. 1998) Answer While preparing department accounts, expenses should be allocated among the different departments on the basis of the following
8. Departmental Accounts Learning Objectives After studying this chapter, you will be able to: ?. Allocate common expenditures of the organization among various departments on appropriate basis. ?. Deal with the inter-departmental transfers and their accounting treatment. ?. Calculate the amount of unrealized profit on
Departmental Accounts are accounts relating to the several departments or sections of a business drawn up with a view to ascertaining their individual performances. A business may . Allocate the following further expenditure as you think best and append notes stating the basis selected for each item. Establishment Rs
Working Notes: i. Salaries and wages are to be allocated first between show room and; workshop in the ratio of 3:1. i.e. Rs.18,000 and Rs. 6,000. Work shop salaries are to be charged to Dept. Z. ii. Since Dry cleaners and Dumpsters are sold at show room, salaries are to be allocated to Dept. 'X' and Dept. 'Y' respectively in
INTERMEDIATE. STUDY NOTES. INTERMEDIATE : PAPER - 5. FINANCIAL. ACCOUNTING. The Institute of Cost Accountants of India. CMA Bhawan, 12, Sudder Street, Kolkata - 700 016 Branch and Departmental Accounts. 8. Royalty and Departmental Accounts: Trading Account; Profit & Loss Account. (c). Calculation
CHAPTER 1 NOTES. PAGES 12-16. • Departmental Accounting System: an accounting system showing accounting information for two or more departments o Gross Profit is calculated for each department. • Merchandising Business: a business that purchases and sells goods o May have two types of equipment:.
Feb 18, 2018 Discussion. ca final new syllabus audit notes. sir my attempt is on Nov 18 If any one have PDF notes of quality review audit please mailed me anmoltiwari023 gmail com
Oct 11, 2014
The main advantages of departmental accounting are as follows: 1. A separate set of books may be kept for each department, including complete stock accounts .. Working Notes: Calculation of Unrealised Profit on Closing Stock: Dept. B: Closing Stock. ` 14,000. Cost element transferred from Deptt. A. ` 14,000 x. 18,000.
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