Ed Ventures E-Learning Account Assistant Interview Questions and Answers

An aptitude test is beneficial for assessing knowledge.

Q1. What is the process for preparing a balance sheet and a profit and loss account?
Ans. 
The process for preparing a balance sheet and a profit and loss account involves gathering financial data, organizing it into categories, calculating totals, and analyzing the results.
• Gather financial data including assets, liabilities, and equity for the balance sheet.

• Organize the data into categories such as current assets, fixed assets, current liabilities, etc.

• Calculate totals for each category to determine the ove...read more
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Q2. What is the process for preparing a revenue account?
Ans. 
The process for preparing a revenue account involves recording all income earned by a business during a specific period.
• Gather all relevant financial documents such as sales invoices, receipts, and bank statements.

• Calculate the total revenue earned by adding up all income sources.

• Record the revenue in the appropriate accounting software or ledger.

• Ensure all revenue is accurately categorized and any adjustments are made...read more
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Q1. Give an example of a customer dispute in making payment
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1 hour and topics accounting

Q1. Tell me about yourself
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Accounting related questions, financial statements and p and l Ifrs

Q1. With the team lead mostly accounting related questions
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Q2. Intangible assets, effect of changes in forex ,asset accounting revenue accounting
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Q1. Journal entry for prepaid expenses
Ans. 
Journal entry for prepaid expenses involves debiting Prepaid Expense account and crediting Cash or Bank account.
• Prepaid expenses are expenses paid in advance but not yet incurred.

• To record prepaid expenses, debit the Prepaid Expense account and credit Cash or Bank account.

• Example: Journal entry for prepaid rent of $1,200 would be: Debit Prepaid Rent $1,200 and Credit Cash/Bank $1,200.
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Q2. Journal entry for dividend
Ans. 
Journal entry for dividend involves debiting retained earnings and crediting dividends payable or cash account.
• Debit retained earnings to decrease equity

• Credit dividends payable or cash account to show payment to shareholders

• Dividends are not an expense, but a distribution of profits

• Journal entry: Debit Retained Earnings, Credit Dividends Payable or Cash
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Q1. Tell me about yourself
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Q2. This question is usually the first question in an interview, and it is a way to break the ice. You should answer this question by giving a brief overview of your education, work experience, and skills. You...read more
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