what is the different between Liability and owners equities ?

Answer Posted / abilasha

Liability is to responsible for payment but owners capital is different like owners capital is share owed by the propreitor

Is This Answer Correct ?    1 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

What is budget variance analysis?

5892


FROM WHERE I WILL GET PREVIOUS QUESTION PAPER OF JUNIOR ACCOUNTS OFFICER TEST OF B S N L

2575


What are the reasons which cause pass book of the bank and your bank book not tally?

572


In india i did MA BE.d but now i am applying for student visa in australia in masters of professional accounting will i face any problem in interview call that why u change ur course how i ill support my answer

1467


what is the right process for input credit of Service tax. and on which service i can take credit.

1396






What is peach tree accounting?

668


what is bond wash transaction ,when we have to use it, and what is the procedure please help me with examle

1667


under which head should be the p & l appropriation a/c should be opened in tally 9? and how to preapare and display it?

1583


my question is I am finance student I want to know which type of the question are asked by the interwier in interview.

1596


What is bad debt expense?

650


Why we debit expenses and credit incomes ?

1279


From the following particulars taken on 31 December, 1995, you are required to prepare a bank reconciliation statement to reconcile the bank balance shown in the Cash Book with that shown in the Pass Book: (i) Balance as per Pass Book on 31 December, 1995, O/D Rs 1,027. (ii) Four cheques drawn on 31 December but not cleared till January are as follows: Rs 12; Rs 1,021; Rs 98; and Rs 113. (iii) Interest on O/D not entered in Cash Book Rs 51. (iv) Three cheques received on 30 December and entered in the bank column of the Cash Book but not lodged in bank for collection till 3 January next: Rs 1,160; Rs 2,100; and Rs 2,080. (v) Cost of cheque book, Pass Book, etc; Rs 1.50 entered twice erroneously in Cash Book in November. (vi) A Bill Receivable for Rs 250 due on 29 December, 1995 was passed to the bank for collection on 28 December, 1990 and was entered in Cash Book forthwith whereas the proceeds were credited in the Pass Book only in January following. (vii) Chamber of Commerce subscription Rs 10 paid by bank on 1 December, 1990 had not been entered in the Cash Book. (viii) Bank charges of Rs 5 had been debited in the pass book twice erroneously. . . . plz be fast

1596


What do we mean by Redemption of shares and debentures?

1906


What is mean by Asset area?

1797


rate of vat on gold purchase local & o.m.s. & rate of % in sale local & o.m.s.

1251