Accounting and Finance Questions

The types of accounts that appear on the post-closing trial balance are the permanent accounts, Assets, Liability and Owner's capital. Permanent accounts is also called real accounts.

Among the first banks were the Bank of Hindustan, which was established in 1770 and liquidated in 1829-32.

Employees who do not complete their required payroll forms make the payroll administrator's job more challenging. Asking this question allows the applicant to explain how she would handle this to ensure the worker still gets paid.

This question illustrates whether the applicant has experience changing employee income tax withholding amounts. The applicant should be able to describe the necessary forms to use and the process for changing the information in the payroll system.

‘Bill Discount’ is a settlement of the bill, where your electricity bill or gas bill is sold to a bank for early payment at less than the face value and the bank will recover the full amount of the bill from you before bill due date. For example, electricity bill for XYZ is $1000; the electricity bill company will sell the bill to the bank for 10% to 20% discount to the face value. Here, the bank will buy the electricity bill for $900 whose face value is $1000, now the bank will recover, full amount of bill from the customer i.e $1000. If the customer fails to pay the bill, the bank will put interest on the outstanding bill and ask the customer for the payment.

The terms Billable and Non-Billable expenses are normally associated with say a consultancy company where they bill consultants out to their clients. Therefore Billable expenses will be paid by the client whereas Non-billable will be paid by your employer. What's included in both is subject to the contract your company has with their client.

Assets are things which is provide service for long duration it may 3 years 4 years or for long period of time.These items capitalize in our account books and charge depreciation in every year according to these rate it may 20 10 100