What is Asset& Liabilities?
What is depreciation And define methods.
what is BRS and when we can use .
Explain Acconting concepts & principles.
General entry for paybles.
What is dividend?
Answer Posted / aman vohra
Assets denotes those items which generate benefit to an entity in the coming future. Whereas, liability is the money payable in respect of arranging Assets or incurring expenditure.
Depreciation is the amount of amortization of fixed assets, due to normal wear and tear on account of changes in environment, regular use etc. Depreciation is calculated either on Straight line method or the WDV method. Under Straight line method, the total cost less salvage value is divided with the number of accounting periods, in which the asset is expected to give benefit. Under WDV method, depreciation is computed on an derived percentage on WDV at the beginning of each accounting period.
BRS refers to the Bank Reconciliation Statement. This statement explains various items resulting in difference between book balance and bank balance.
There are several accounting concepts and accounting principles. Generally, Historical cost concept is used and the accounting is done under GAAP, IFRS etc.
Journal entry for payable is as follows:-
Dr. Asset/ Expense Account
Cr. Provision for expense/ payable A/c
Dividend is the amount of profit divided among the shareholders in a limited liability company.
| Is This Answer Correct ? | 3 Yes | 0 No |
Post New Answer View All Answers
how to do the recurring entries or steps to follow that
WHAT IS CORPORATE ACTION?
What's the meaning of Preferential Creditor?
With a 600 credit score, how to improve my credit rating score?
can u let me know how the bankers calculate interest on O.D.account
What elements of your job do you find most difficult
Straight line method to using Indian company names
Expand-------ANTS
if sale aganst c form interstate sale.when i file the return party not give me c form then give by our company wich type panelty give me detail?
WHAT TYPES OF ESSAYS ARE GIVING IN BANK OF AMERICA? CAN ANY ONE HELP ME
what is differred tax liability? explain in detail with some example.
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
Can anyone give comparative data of NPA(non performing assets) of nationalised banks or BANKS IN INDIA for the last 5-10 years if possible with bifurcation substandard doubtful loss asset
post pscwb question and answer for accounting paper I & II for govt.officers departmental examination.
EXPAND______________ICT