How to Calculate Balancing Allowance, Balancing Charge & Capital Gain?

How to Calculate Balancing Allowance, Balancing Charge & Capital Gain?

The calculating balancing allowance, balancing charge and capital gain the terms are most import to know every commerce background student.

A balancing allowance is a type of capital allowance which can be given under several of the allowance codes when an asset is disposed of or the business comes to an end.

SI #Cost Price $WDV $Sales Proceeds $AmountComment
A) $ 90,000.00 $ 60,000.00 $ 50,000.00 $10,000.00  Balancing Allowance
Balancing Allowance

A balancing charge is the opposite of a capital allowance, which reduces the amount of profit you have to pay tax on.

SI #Cost Price $WDV $Sales Proceeds $AmountComment
A) $ 90,000.00 $ 60,000.00 $ 50,000.00 $10,000.00  Balancing Allowance
B) $ 90,000.00 $ 70,000.00 $ 80,000.00 $(10,000.00)   Balancing Charge, Capital Gain Nill
Balancing Charge

Capital gain is an economic concept defined as the profit earned on the sale of an asset which has increased in value over the holding period.

SI #Cost Price $WDV $Sales Proceeds $AmountComment
A) $ 90,000.00 $ 60,000.00 $ 50,000.00 $10,000.00  Balancing Allowance
B) $ 90,000.00 $ 70,000.00 $ 80,000.00 $(10,000.00)   Balancing Charge, Capital Gain Nill
C) $ 90,000.00 $ 70,000.00 $100,000.00 $(30,000.00)Balance Charge, Capital Gain $10,000.00 ($100000-$90000)
A)Bank (Sales) $ 50,000.00
Accu. Dep.90000-60000 $ 30,000.00
Loss on Sales $ 10,000.00
Machinery $ 90,000.00
B)Bank (Sales) $ 80,000.00
Accu. Dep.90000-70000 $ 20,000.00
Machinery $ 90,000.00
Gain on Sales $10,000.00
C)Bank (Sales) $100,000.00
Accu. Dep.90000-70000 $ 20,000.00
Machinery $ 90,000.00
Gain on Sales $ 30,000.00
Balancing Charge $30,000.00 but Maximum is $20,000.00

The Industrial Revolution In The World

The Industrial Revolution In The World

The Industrial Revolution began in Great Britain and spread to Western Europe and the United States within a few decades. It was the transition to new manufacturing processes in the period from about 1760 to sometimes between 1820 and 1840. The first industrial revolution evolved into the second industrial revolution in the transition years between 1840 and 1870.

Fashion Industrial

The industrial revolution and regulation to monitor new industries did not happen simultaneously. Employment generation for the increasing population was the main challenge of that time. People in large number came to the towns from the countryside for job as the rate of unemployment was getting high to higher in the first phases of the industrial revolution.  With the huge scarcity of employment, for the first generation of workers from the 1790s to the 1840s ,workers who were around 80% of total number of the people had very limited or no power to bargain with their new employers on wages, work hours or working conditions. Working conditions were very tough ,unbearable and tragic-10 to 14 working hours a day, six days a week, no safety hazards, no paid vacation or holidays, no financial compensation for any injury, and of course no time and opportunity for recreation. Rather the owners used to fine the workers who left of remained absent from their jobs to ensure uninterrupted work-flow in the factories.

Spot Remove Chemical Removing the Garment Spot

Spot Remove Chemical Removing the Garment Spot

Spot remove chemical removing the garment spot is a common process in RMG sectors for removing the Garment spot. When a garment product start his process in different process, some spot is involved in that process. The testing and inspection process by quality checking time, they are finding the spot as quality issue, For that reason, Spot lifter or spot remove chemical is most essential of garments sector.

Here, you will know about how to use different type of chemical to different way and purpose and spot.

Si No. Product NameWeightUOMRateUse & Instruction
1M. R. L250ml340To remove machine ink, oil spot or any normal spot. Rub using a brush using two to three drops. Used on any colored fabric.
2M. R. S250ml280Highly effective for lifting yellow spots. Apply two to three drops of M, R, S by the fingers of the hand and the yellow spot will go away. Rinse with clean water. Caution: Under no circumstances should M, R, S be used on colored fabrics.
3M-2250ml250Can be used for rust stains and any hard stains. Cannot be used on colored fabrics.
4B. T. S250ml330Pen ink, brick gum can be lifted, rub with a brush using two to three drops. The print spot can be picked up. Can be used on any colored fabric.
5Moon Spot Cream250ml320 
6M-১ &420ml420Functional for removing rust spots on any fabric and can be used on any colored fabric. When using M-1, if the cloth turns yellow, wash it with moon spot cream. If the yellow color does not go away using vanix cream then that cloth is no longer usable.
Spot Remove Chemical Removing

Product & Price List of Company GSR Chemical:

SL. NO.Name of ProductQuantityUnit Price
01.G.S.V Cream200 gm280.00
02.G.S.V cream Plus200 gm350.00
03.S.Rival250 ml280.00
04.S.Rival-2250 ml350.00
05.TSR250 ml180.00
06.TSR Plus250 ml550.00
07.R-1250 ml350.00
08.ISV250 ml250.00
09.R-11100 gm60.00
10.Zee Water1 Litre350.00
11.Zee Water Plus1 Litre420.00
12.Seagate1 Litre410.00
13.Seagate-21 Litre610.00
14.PSV250 ml350.00
15.PSV-2250 ml450.00
16.T.C Powder1 kg60.00
Spot Remove Chemical Price List

ITP (Income Tax Practitioner) Exam Question and Suggestion

Tax Deduct at Source Non-rasident

ITP (Income Tax Practitioner) Exam Question and Suggestion is most important to every student who are attained in ITP examination. Today I like to share with you about basic question of Accounting, Bangla & English of ITP examination. The Accounting, Bangla & English question are bellow-

Accounting- i)                   Definition of Accounting, ii)                 Describes the feature of gift, iii)              What is the transaction, iv)                What is the equation of accounting transaction, v)                 What is the double entry system, vi)               What are the procedure of double entry system, vii)            Describe the circle of Accounting, viii)          Describe the  modern procedure of debtors and creditors and also the equation, ix)               What is the meaning of journal, x)                  Definition of journal, xi)               What is the meaning of ledger and it’s definition, xii)             Difference between journal and ledger, xiii)          What is the definition of trail balance, xiv)           Why the trail balance is equal in both side, xv)             What is the meaning of contra entry with double entry, xvi)            What do you mean by final accounts, xvii)        What is the Authorized Capital and Paid up Capital, xviii)      Difference between Share and Stock


Bangla- i)   Bakka Songkochon/Akothai Prokas, ii)   Beporith Shobdha, iii) Ukti, iv)  Karok, v) Pad, vi)  Bachon, vii)  Beram Chinno, Joti Chinno, Chead Chinno, viii)   Sondhi, ix)  Somarthak Shobdha, x)  Latter, xi)   Application, xii)  Vabsomprosaron, xiii) Sarangsho, xiv)  Essay,

English- i)  English to Bengali, ii)   Bengali to English, iii)  Essay, iv)  Paragraph, v)  Letter/Application, vi)               Translation, vii)  Free Writing, viii)  Composition, ix) Grammar (Voice, Narration, Transformation of sentence, Degree)
I think so, the above topics are helpful for you, if you likes the suggestion please subscribe by chennal SaifSafe from Youtube

Target and Actual Job Costing Analysis of Garment Sectors

Target and Actual Job Costing Analysis

Target and Actual Job Costing Analysis of Garment Sectors is most important to make decision to known actual profit of organization. The job costing in garments sector or manufacturing company are used tow types of polices. One of them are details calculation as per below. Here i am express “Analysis of Target Profit oriented report” and “Actual Costing Report” to management for make decision to safe liquidity in the preparation process.

Target and Actual Job Costing Analysis of Garment Sectors:
Order Qty:10000Pcs
FOB $                                         5.00Pcs
FOB $                                    50,000
Materials 60%On FOB
FOH26.50%On FOB
SOH3.50%On FOB
Profit10%On FOB
Actual Cost:
Materials Cost $                                    30,000
FOH $                                    13,250
SOH $                                       1,750
Profit $                                       5,000
Standard Cost Sheet
Target Oriented ReportActual Report
Month Jan-18Month Jan-18
Sales2500Pcs $  12,500.00Sales 2500Pcs $    12,500.00
Less:
Materials Cost60.00% $    7,500.00Materials Cost60.00% $       7,500.00
FOH26.50% $    3,312.50FOH26.50% $       3,312.50
SOH3.50% $        437.50SOH3.50% $          437.50
Profit10.00% $    1,250.00Profit10.00% $       1,250.00
Month Feb-18Month Feb-18
Sales3000Pcs $  15,000.00Sales 3000Pcs $    15,000.00
Less:
Materials Cost60.00% $    9,000.00Materials Cost60.00% $       9,000.00
FOH26.50% $    3,975.00FOH26.50% $       3,975.00
SOH3.50% $        525.00SOH3.50% $          525.00
Profit10.00% $    1,500.00Profit10.00% $       1,500.00
Month Mar-18Month Mar-18
Sales4000Pcs $  20,000.00Sales 4000Pcs $    20,000.00
Less:
Materials Cost60.00% $  12,000.00Materials Cost60.00% $ 13,500.00
FOH26.50% $    5,300.00FOH26.50% $       5,962.50
SOH3.50% $        700.00SOH3.50% $          787.50
Profit10.00% $    2,000.00Profit10.00% $        (250.00)
Target Oriented ReportActual Report
FOB $  47,500.00FOB $    47,500.00
Materials60.00% $  28,500.00Materials63.16% $    30,000.00
FOH26.50% $  12,587.50FOH27.89% $    13,250.00
SOH3.50% $    1,662.50SOH3.68% $       1,750.00
Profit10.00% $    4,750.00Profit5.26% $       2,500.00
Actual Vs Target
1 2 3 4 23