Answer / shreya

Payments that will be assigned as expenses in a later
period, but that are paid in advance and temporarily set up
as assets on the balance sheet.Ex:Tax avoidance and tax
evasion


Money that a company receives from a customer as prepayment
for some good or service. A deferred liability is listed on
a balance sheet as a liability until the good or service is
delivered. This is because the company would have to return
the money if it does not keep its end of the bargain as
promised. A deferred liability is also called a deferred
credit or deferred revenue.Ex:Deftax

Answer / ammu

liablity means the state of being liable that in the sense
all expenses and losses.
Assets are the profits which we have in the particular
business or the firm.
Ex: Machinery, furnitureetc.

Honda car dr 11556 purchase 25/08/2010 to bank cr 4100 to loan cr 7456 Installment paid upto 31/7/2012 @ 207/-pm (total 4761/-) Loan Bal. 2695/- Car was cancelled due to accident in June-2012. Finance company refunded 6656/-(15/08/2012) Total accumulated depreciation was 5202.318. what will be the Car write-off entry..??

2 Answers  

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journal entries for money received from RBI by the banks IN CASE OF INSUFFICIENCY

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Give example of an intangible Asset that is depriciable

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salary payable deduct tds entry

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a purchase of Rs.750 from raghubir has been debited to his account.purchase account has been correctly debited.

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What are non performing assets in banking?

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