Interested to Buy Any Domain ? << Click Here >> for more details...
why we are considering the net profit as liable in balance
sheet
- 5 Answers
- 8893 Views
- I also Faced
- E-Mail Answers
Answer Posted / shiva
According to Accounting Standards, we should treat,
Business is separate from Enterpenuer. the Net profit,
which is gained by from the business in the Patriculat
peroid after provisions for some reserve. this net profit
should share to the Partners or share holders. so, this is
laibility and should shown in the laibility side to add to
the capital.
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
Q1.How depreciation deffer from depletion? Q2.show the main benefit from calculating and recording depreciation.
What do we mean by purchase return in accounting?
Mohan sold goods on 1st sep 2009 for the rs 200000/- to sohan immediatly accepted a 3 month bill.on the due date sohan request for the renewal of the bill for further peirod of two month .mohan agree to pay interest @9% per annum to be inculuded in the new bill . determine the amount of new bill?
What are trade bills?
What is Bank Reconciliation Statement? How to calliculate in tally erp9.0?
India me ,suppose that hmare pass 190000 Rs hai,to kitna tax lgega,or kis heshab se lgega,
Is it legal for an organization to keep two sets of accounting records; one for tax and one for book? Why or why not?
Where should tds received should show in balance sheet?
Why in SAP external number range should be selected for depreciation posting . any specific reasons for that explain me? Raj
What are the basic assumptions in accounting?
1.recivable and payble 2.pf,tds,esi
What would greater impact a firms valuation, a 10% reduction in revenues or 1% reduction in discount rate?
How many accounting standards are currently published?
Tell us what is your proudest accomplishment?
Who created snapit accounting?
