what is fictitious account?
- 5 Answers
- 22658 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / rakesh kumar prasad
fictitious assets are those assets those do not have
physical form or existence and they can not be touch or
feel. These are not the real assets. These are the items of
such expenses and losses which have not been written off in
full.it only includes the assets having the nature of
deffered revenue expenditures viz, deffered advertisement
expenses, discount on issue of shares or debentures. These
are the assets out of which benefit or profit for more than
one accounting year is available.
examples,
preliminary expenses,
under writing commission,
discount on issue of shares or debentures etc
| Is This Answer Correct ? | 9 Yes | 0 No |
Answer / sumitra.raghavan
asset which are of intangible nature which do not have any economic value these asset are due to be written off example discount on issue of shares
| Is This Answer Correct ? | 5 Yes | 1 No |
Answer / sanoop as
FIctitious asset is asset which can not been seen,but exist in the busiess
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / sahana.m
Fictitious accounts are accounts of the expenses and losses
which a concern incurs , and incomes and gains which a
concern earns in the course of its business
| Is This Answer Correct ? | 4 Yes | 3 No |
Answer / afzaal raza
fictitious assets is such asset which don't have market value. like discount on issue of shares and debentures, Preliminary expenses etc.
| Is This Answer Correct ? | 0 Yes | 0 No |
Golden Words Of Accounting?
Sanjay Ltd invited applications from the public for the issue of 10,000 equity shares of Rs. 10 each at a premium of 20%, payable Rs. 3 on application; Rs. 5 on allotment including premium and the balance in two calls of an equal amount. Applications for 15,000 equity shares were received. The directors allotted 10,000 shares to all the applicants on pro-rata basis adjusting the excess application money towards allotment. All money due on allotment and calls were received. Give journal entries to record the above transactions in the books of the company. Also show the balance sheet.
What is the rate of penalty charged when the given Vat Cheque dishonoured?
What is a Pay Group
cost of lease=20,000.refundable deposits 2000 (after 4 years).annuity value for 4 years @5% is .2820.find the net charge to p&l a/c
What is Accruals ? How it is treated in finacials
What GP resew of balance sheet taking.
i am a registerd Dealer in Delhi i have Purchase Some Capital goods can i take inpute vat banifit if yes pls spacifie.
WHAT IS RATE OF SERVICE TAX 2014-15
why we used D1, C4 & C form ? pl. ans me in detail.
Entry of vehicle loan paid some margin money and other amount financed by bank and repayment of bank loan?
What is call option and put option?
Audit 
