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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
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Answer Posted / 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
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