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What is the basic accounting equation?


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when we compare to bank statement with the our pass book the enteries are opposite why this happens?

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While closing books for the year end, We had Closing stock which is inclusive of VAT(i.e Cost price + VAT), What is the treatment of this Closing Stock in the P&L and BS , is Closing Stock Shown Inclusive of VAT (ie. Cost price +VAT) or, without VAT (ie. Cost Price)

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Diffeence between cash book and cash account?

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