is outstanding items (either expences or incomes) comes in
trial balance? if so how to treat them in financial
statements
Answer Posted / swami madhvendra awasthee
in this case in financial statements outstanding items is
shown only in liability side of balance sheet not in trading
or profit and loss account.
| Is This Answer Correct ? | 4 Yes | 0 No |
Post New Answer View All Answers
Q13. Journalise the following transactions: Proprietor withdrew for private use Rs.4000/- from bank and 6000/- cash. Goods Costing Rs.5000 was burnt by fire. Purchase Machinery for cash Rs.150000/- and paid Rs.2000/- on its Installation. Charge 5% Depreciation on building costing Rs.200000/- and 8% Depreciation on Furniture costing Rs.5000/-. Prepaid Salary Rs2000/- Kapil who owed us Rs20000/- become insolvent and nothing is received from his estate.
what's accounts payable
My BASIC Salary is 18,000
Short Answer on _________Accounts Receivable
my boss (Managing Partner of a firm) promoted along with his wife a private limited company. he and she spent some Rs. 75,000/- (approx) for the promotion of the company. i know that they usually fall under the head of preliminary expenses. but after receiving the certification of incorporation of the company how shall i repay them to the promoters i.e. what is the accounting entry in the books (initial books of accounts) for the expenditure incurred. they have kept in hand 5,00,000/- each to meet the expenses and they were allotted shares of equal to the amount. can i allot shares for a consideration of cash from and excluding the preliminary expenses. can i take cash towards the share application money (being the cash more than Rs. 20,000/-) as the company has not opened a bank account yet. please give me the detailed answer with journal entries that can be entered in tally. thank you.
Expand-------------BRTS
Telly ERP9 is perfect accounting softwear in excise unit.
Is commodities transaction tax a permissible business expenditure? Explain
What part can management policy play in the analysis of cost behaviour?
what is the script forms standard text in fico
Pls Explain Accounting Standered 1,3,11,29
Explain why retained earnings have an opportunity cost associated?
Harpithas due Rs 55000 was settled infull by taking Haris due Rs 12500 in adjustment Pass necessary entry
what is meant by qurum
Short Answer on ___________Appreciation