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Answer Posted / arun kumar
Quick assets are those assets which can be converted into
cash quickly
Calculation of Quick Assets
Quick Assets= Current Assets-(Inventories+Prepaid Expenses)
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What is Summarising
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What is the Assets & Liabilities?
Clasify capital
Prepare a trial balance from the following :- Particulars Amount Particulars Amount Rs. Rs. Purchases 8225 Premium on lease 1200 Wages 1025 Loan on mortgage 2500 Sales 12450 Plant & machinery 2000 Arun's capital 13500 Provisn for doubtful debts 300 Stock on 1/1/98 1500 Sundry debtors 16550 Salary 410 Trade charges 200 Rent & taxes 162 Bad debts 200 Sundry creditors 2572
Distinguish capital and revenue expenditure
1.explain the accounting concepts ? 2.what are the objectives of preparing a trail balance ?
Expand-------SNAT
outstanding expenses, prepaid or unexpired expenses
