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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
define accounting.Briefly explain the accounting concepts which guide the accountant at the recording stage.
Accounts payable subsidiary ledger Accounts are designed to show balance owed to every creditor. Liability accounts generally have credit balances. Accounts are not assigned nu
After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $673,400, and Allowance for Doubtful Accounts has a balance of $11,90
Remedies of overtrading
Case Study : Briana Hope has had a long-standing love affair with technology and an appetite for apps. She believes that business owners that are not taking advantage of apps to
contractee account is it an assets account or expenses Account
what is going concern concept
The Dividends account increases (debited) as well as an asset cash decreases (credited) by USD 3000. Transaction 15 brings to a close the analysis of the Micro Train Company transa
Adjusting Journal Entries = These are the entries which are not recoded and is to be adjusted at the end of the year .For example; Supplies in hand Supplies expense A/C Dr. and
Based on the financial statements for Jackson Enterprises (income statement, statement of owner's equity, and balance sheet) shown below, prepare the following financial ratios.
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