Can anybody tell me the placement of the following ledgers
in the Trial Balance
1.Loans and Advances
2.Interest on Capital
3.Customer Deposit
4.Preliminery expenses
5.Insurance claim
Answers were Sorted based on User's Feedback
The general principle is all incomes and liabilities will
come under credit side of the trial balance.
All assets and expenditure will appear under debit side of
the trial balance.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / mr. roshan dahal
it seem that the question asked is about Trial balance of
Insurance co. nature or may i say finance corp.
so keep in find a funda for simple understanding.
1.What you will have to pay in future or some one is
claiming on you is liability hence Credit of Trial balance
in your question it might be Ins Claim.
2.Loan And Advances made by you to other : Dr.
3.Loan And Advances taken by you from other : Cr.
4.Interest on Capital is to be paid by you hence your
liability what i xplained earlier : Cr.
5 Customer deposit is your liability hence Cr.
6.Prweliminary Exp is exp u made it earlier during your
business estab hence gives u enduring benifit so Assets :
Dr.
these answer could have been more simpler than i explained
but the most important thing is understanding the prob .
and there is no short cut to a good results.
for more help please do mail me @
kshankingfishersmailbox@rediffmail.com
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / anil gautam
particular
1.loans and advances cr.
2 intrest on capital cr.
3.customer deposited dr.
4.prelimery exp. dr.
5 insurance claim cr.
| Is This Answer Correct ? | 2 Yes | 2 No |
In Tally what do you mean by cost centre?
5 Answers Hindustan Unilever Limited, Wipro,
EXPAND___________NBFCS
kindly given the example of contingent liabilities.
expand L R
one question dr mean debit cr mean credit but cr full form credit but dr full form debit that mean debit not word dr what the answer
shares & debentures ?
What is the safety of margin?
What is contingent liability and contingent asset and provision in respect Accounting Standard?
When we are using the DEPB licence for duty adjustment 100 %, there is no cash payment to customs. If i am a trader and registered with excise, Can we avail the modvat credit and pass on to customers?
What Are The Characteristics Of Modern Accounting?
EXPAND___________LTTE
What is FBT?(freingh benefit tax)