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
During the current year, Mast Corporation expects to produce 10,300 units and has budgeted the following: net income $350,376; variable costs $1,080,800; and fixed costs $105,000

Q. Seasonality in sales? Based upon its operating record the company believes that its business is seasonal. Excluding the result of net sales, new store openings and earnings

want a question of general jouranal , t account ,traial balance , income statement and balance sheet

Is there nay depreciation needed to perform when the revaluation model is applied to the asset?

Q. What is Fixed cost? Fixed cost -- a cost that doesn't change as sales volume changes (in the short run.) Fixedcosts generally include such items as rent, interest, depreciat

The book of Deven Verma could not be tallied. The account transferred the difference of Rs. 1.270 in the suspense account on the debit side. the following mistakes were found later

XYZ plc provides engineering and consultancy services to the oil and gas industry.  Over the past few years, they have incurred expenditure of £1m researching and developing a new

what is the implication of applying accounting concepts wrongly

Can you give me a more simple definition of Mutual Confidence and give me an example of a situation of it

A time of 12 consecutive months used by an organization to account for and report the results of its operations.