Answer Posted / k.anantha narayanan

It is nothing but pre-opening expenses.Pre-opening expenses is cost incurred in the formation of a firm and advertising,promotional activities,employee training etc.,before the firm can open doors for business.It is also called start up expenses.

Give a brief explanation of the fundamental accounting concept of prudence

2172

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2083

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while passing a journal entry we rite dr. for the a/c to be debited but why don't we write cr. for the a/c which is credited and instead write 'TO'??

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define bank Draft

2356

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how to calculate IT? if bank intrest:1036 , long term capital gain:448841 short term capital gain :894 , income from rent 225000, and income from other source 347478, Advance tax paid 25000,lic 101508, medicliam 6990 and tds recd.25000

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2145

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2216

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Why in a cash book receipts are debited while the same if received in our books recepits are credited. Why does cash book have a rule to debit receipts and credit payments. For example if am paying the cash that i owe the company or firm i debit in my books(cash) on the debit side and should credit in the cash book but i cant do that cash book take receipts on the debit side as per the general . please clarify many thanx in advance

2564

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