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Answer Posted / shalini
IT REFERS TO UNCERTAINITY, IT IS ASITUATION TAHT MAY OCCUR
OR MAY NOT OCCUR
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Hello Sir, My Name is Shoaib, I am Novice in Accounting Field. I want to learn the simple & step by step, procedure to final my company account. Please Help
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I am a Leaving Cert Student. From Solutions to exam questions etc. I know what to do with the following adjustment but I cannot explain why. A thypical Adjustment is: A building is acquired for €60000 plus VAT at 10%. The amount paid to the Vendor was entered in the Buildings Account. No entry made in the VAT account. Could you explain why the VAT amount is deducted from the VAT amount in the TB? And why it is sometimes an Asset in the BS. Thank you, Mary
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