Define PARTNERSHIP
Answer / sarat
when two or more person start his business investing
capital with the aims to share his profit and bearing all
the risk of losses is known as partnership
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If a company purchase the goods for rs. 100 and intends to Sell it for 200. What is the journal entry for this?
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DEAR ALL, HOW TO ACCOUNT THE SALARY ADVANCE A/c. I HAVE TAKEN AN ADVANCE OF Rs.25000/-. I HAVE DEBITED SALARIES ADVANCE A/c AND CREDITED THE PETTY CASH A/c in TALLY. I dont't know whether it is correct or not. If correct, in my individual ledger no entry is reflected. Alternatively, if I debit my self and credit petty cash a/c it is reflected in the P & L Account, but it is not an expense. and not reflected in the balance sheet, but reflected in P & L. I think I need to put a journal entry. Like debiting the salary account and crediting the salary advance account. Is this correct or not? Can any one help me please. my mail add: cdvijay100@yahoo.co.in or kmlnkml@live.com