Answer / aqeel raza

The bunch of accounts is called ledger, its main function is to provide end result of amount as to balance in debit or in credit. If balance in general ledger which consists on assets, liabilities and owner’s equity, as asset is debit means to have or to receive, liabilities is debit means to pay the amount to whom the debit taken and owner’s equity is credit means to have the amount of investment. The balances in temporary accounts; expense and revenue; are ended on calculation of profit and loss which is transferred to general ledger account.
The main function of maintaining ledger is to provide end balance of all accounts to next stage as to trial balance.

Dear sir, please tell me how to calculate p.f ( provident fund)?

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in reply of sreedapa answer ,suppose for the m/o march telephone expense is Rs.800 and for the m/o april Rs.200 For this we will pass tthis entry : Telephone expenses Dr 800 To Tel expenses payable 800 Telephone Expenses Payable Dr 800 to Bank/cash 800 (For the m/o march) And for the m/o april, we will make the provision in the m/o March Telephone expenses Dr. 200 To Telephone Expenses Payable 200 Plz advice

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sold private car for rs 4,000 and bought a new one with proceeds for bussiess plus rs 5.000 from office cash what will be the journal entry

8 Answers   Genpact,

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sale cycle

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is goods in transit will be liable for entry tax ?

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How can do it TDS in accounts?

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