Answer / amjad

EQUITY

Equity is the capital or fund raised by the company through
public for it finincal need because at the bigger level all
of fund cannot be taken as a loan due to heavy interest
rate which bank charges so company goes for a public
offering by issuing shares in the market with the
guidelines giving by sebi ( security and exchage board of
india )a company cannot raised fund in excess of paid up
capital specified in the memorandam and article of
association.

Single Entry

Single entry system of accounting is that system of
accounting where an entry as single effect only unlike
double entry system having double effect it use by small
business because details are not required, the primary
bookkeeping record in single entry is cash book in which
only income and exp are recorded in short it does not serve
the purpose of accounting

Answer / amarjeet singh

In Single entry system of accounting only one effect of an entry is recorded. It is used by small business units because details are not required by these units. For example if goods are sold on credit to Ram Lal for Rs 5000, it will be recorded in the books as Rs 5000 receivable from Ram Lal.
The primary bookkeeping record in single entry system is cash book in which only Receipts and Payments are recorded.

what is three equity security data points

1 Answers  

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Define partitioning in accounting?

0 Answers  

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adams a debtor for R600 had been declared insolvent and part of his debts has to be written off. The attorneys informed you that an amount of 25c in the rand will be paid and the rest must be written off

0 Answers  

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tell me bill payable head and entry in tally

4 Answers   Reliance, Tally Solutions,

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Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.

0 Answers  

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what is Purchase Book & sales Book?

0 Answers   EDS,

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how to calculate closing stock?

3 Answers  

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In 3 way match.....Order qty is 100 and received 90 and 10 got rejected. But the supplier sent an invoice for 100 qty. what are the steps we need to take in SAP. Whether we need to reject the invoice or process with the 90 qty .please explain with real time.

0 Answers   Genpact,

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Bank charges rs.100 debit/credit only in brs, where u can Posted entry,add or less in as per cash book/passbook

2 Answers   FIC,

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what is the difference between journal entry and journal voucher

3 Answers  

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What is R2R Cycle?

1 Answers   IBM,

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Can salary paid to promoters before incorporation be taken as a part of pre-incorporation expense? If yes how is the TDS part to be dealt with?

0 Answers  

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