Treatment in accounts, Accounting Basics

Assume in Balance sheet Furniture is given @ rs.1200000. and an adjustment tells that half of the building is used for residential purpose... then what is treatment in accounts?

Ans) only 600000 worth of building is used for office purposeso only 600000 will be displaying in the balance sheet as the building used for residential reason will not be given as it is personal

 

 

Posted Date: 3/30/2013 3:16:39 AM | Location : United States







Related Discussions:- Treatment in accounts, Assignment Help, Ask Question on Treatment in accounts, Get Answer, Expert's Help, Treatment in accounts Discussions

Write discussion on Treatment in accounts
Your posts are moderated
Related Questions
most consrvatism way of lower cost method

Liquidity Ratios (Short Term Solvency Ratios):   These Ratios calculate the capability of the firm to meet its current obligations. They point out whether the firm has enough li


GAAP that is Generally Accepted Accounting Principles encompass the conventions, rules and processes necessary to explain accepted accounting practice at an exact time........gener

Q. Describe about Cash role in balance sheet? Cash includes deposits in banks obtainable for current operations at the balance sheet date plus cash on hand consisting of un-dep

Has accounting become too interesting? In recent years, accounting has become front-page news and has been a key talking point among those connected with world of business. Reg

what accounts go into a balance sheet

Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.

A lobster catcher spends $12 500 per month to maintain a lobster boat.  He plans to catch an average of 20 days per month during lobster season.  For each day, he must allow approx

Q. Sales returns affect both revenues and cost of good? When a company sells merchandise to customers then it transfers the cost of the merchandise from an asset account that i