why we are considering the net profit as liable in balance
sheet
- 5 Answers
- 7184 Views
- I also Faced
- E-Mail Answers
Answer Posted / manojjain1525
there are sum generally accepted accounting principles and
in those principles there is one self entity concept it says
that the business is treated as self entity ( individual
person)and the proprietor is the one who provide cap to
business and whenever there will be profit that profit will
be treated as the liability of the business hence the net
profit is always shown in the liability side of the balance
sheet.
manojjain1525@gmail.com
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
Explain accounting 101?
What does a demo/presentation need to be effective?
What is meant by partitioning?
What is the journal entry of building rent and TDs payment?
what is cost center & cost categories in tally
sale cycle
Please give me a suggession to calculate the T.D.S,E.S.I,P.F, From salary which is in gross Rs. 15000/.
What is royalty reserve?
What is the difference between provision and reverse?
In tally when accounts with inventory ,when working in units of measurement under this after creating unit ,if we want to change the unit due to some mistake why does the cursor does not stop in the decimal field? And why the used units do not get deleted in the alter section?
how to calculate forefeiture of share when over subcription
Define trade bills?
Detail your responsibilities in accounts receivable
What are the characteristic features of financial accounting?
I TRANSFERRED A STOCK OF RS. 100.00 FROM HEAD OFFICE DELHI TO MFG. UNIT OFFICE AT HARYANA AGST FORM F.AT BRANCH GOODS ARE PROCESSED AND ADDED VALUE OF RS. 80.00 AND TRNF BACK TO DELHI HEAD OFFICE FOR RS. 180.00 AGST FORM F FROM HARYANA . AND HEAD OFFICE SOLD THIS TO PARTY AT RS. 200.00 . I WANT TO KNOW HOW TO MAKE ACCOUNTING ENTRIES IN BOTH BOOKS HEAD OFFICE AND BRANCH OFFICE. TO SETTEL ACCOUNT AND TO CONSOLIDATE THE BOOKS AT THE END OF YEAR.
