FinAdvantage Executive Accountant Interview Questions and Answers

Q1. Screening process
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Journal entry for trade happening

Q1. Accounrting Journal entry for purchase return
Ans. 
A purchase return journal entry is made to record the return of goods purchased from a supplier.
• Debit the accounts payable or trade payable account

• Credit the inventory or stock account

• Include any applicable taxes or discounts in the journal entry

• Ensure the entry is properly documented with the date, description, and amount

• Example: Debit Accounts Payable $1,000, Credit Inventory $1,000
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Q2. How's your excel skill?
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Q1. Journal entry of porchase
Ans. 
A journal entry of purchase records the acquisition of goods or services by a company.
• Debit the asset account for the cost of the purchase

• Credit the accounts payable account for the same amount

• If the purchase was made with cash, credit the cash account instead of accounts payable

• Include any applicable taxes or discounts in the journal entry

• Example: Debit Inventory for $1,000, Credit Accounts Payable for $1,000
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Q2. Purchase DR. GST dr. To party name account
Ans. 
This is a journal entry for a purchase transaction where the GST is also included.
• The purchase account is debited for the cost of the item purchased.

• The GST account is also debited for the amount of GST paid.

• The party name account is credited for the total amount paid.

• For example, if the purchase cost is $100 and the GST rate is 10%, the journal entry would be: Purchase DR $100, GST DR $10, Party Name CR $110.
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Q1. Self introduction
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Q1. Payroll depreciation asset purchase
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Q1. Communication skills, acounting skills
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Final Accounts, TB, Balance sheet

Asked to Solved a Final Acoounts problem.

Q1. Questions about accounting knwoledge Like Jornal Entries, Ledger, Cash book, Petty cash etc. Asks about your courses and working knwoledge.
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