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i buy machine 70% cash 30% installments.i have charged 100% cost to asset and capital so when i pay first installment i debit installment expense and credit bank so my question is
1. Trading account is prepared so as to calculate gross profit or loss, whereas the function of the profit and loss account is to disclose net profit or loss. 2. Trading account
Define Accounting. Briefly explain the accounting concepts which guide the accountant at the recording stage.
The Opening Stock of goods is the stock of goods in hand at the start of an accounting year. It may contain stock of raw material, work-in-progress and finished goods. It appears i
The balance sheet lists assets, capital and liabilities separately. This is an accepted convention about the assets and liabilities are demonstrated in sub groups and listed in the
what all include in company revenue recoganisation
#question STATEMENT OF COMPERIHENSIVE INCOME
Direct expenses comprise all those expenses incurred in bringing the goods to the place of business or trade or in-production process till the goods are placed in saleable places.
You have learned about the business and its proprietor is reacted as separate entities. It implies that separate accounts must be kept in the ledger for recording transactions amon
Q. What do you mean by Accounting Environment? Record keeping in an accounting sense is deliberation to have begun about 4000 BCE. The control, record-keeping, and verification
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