Interested to Buy Any Domain ? << Click Here >> for more details...
what is mean by preliminary balance sheet and how did
prepare the balance sheet
what is the meaning of single entry & double entry system
- 1 Answers
- 10899 Views
- I also Faced
- E-Mail Answers
Answer / sankaranarayanan
Preliminary expenses is an expenses which is incurred by the company before the registration of company, like legal charges, registering fees, etc, whatever the expenses which has been spent by the company to start the new company is called preliminary expenses, later it can be written-off.
It is shown on the assets side of the balance sheet in the last part.
Single Entry system is an incomplete system of recording the transactions, it has been mainly maintained by sole trader(small level business), it will affect only one side.
Double Entry system is an complete system of recording the transactions, there is a debit always there will be credit.
| Is This Answer Correct ? | 4 Yes | 1 No |
What is an adjusting journal entry?
how to prepare brs statement for company in tally
Tell me what would you say are the most important qualities of an account manager?
Can it be possible to transfer FCRA funds to an ngo who don't have FCRA registration no.
Define scrap value in accounting?
Tell me the stages of double entry system?
What is the treatment of loan and its interest in trading profit and loss ,balance sheet
How to make payment for single invoice and multiple invoices
What are the four classifications of bad and doubtful debts as per the context of the bank?
what is different between accouts receivable and billing?
steps for finalisation of accounts and related entries
goods with drawn by proprietor for household expenses
Audit 
