Answer Posted / ranjit kumar padhy

1. Finalization of balance sheet is to close the balance
sheet after preparing the profit and loss account
considering all adjustments & provisions i.e.
depreciation of fixed asstes, provision for doubtfull debts,
provision for deffered tax and other expances. first of all
prepare all ledger accounts and trial balance after prepare
trading a/c and profit&loss a/c after we have finalize of
balance sheet.The profit or loss should be transfer to
capital Account
2.It is prepared as per standard Format for showing details
of condition of organization
3. Two side of balance sheet one is liabilities and second
is assets. liabilities side include capital, loans &
advances,provision & reserves, current liabilities and
assets side include fixed assets, current assets,
preliminary expances.

You use the accounts approach for parallel valuation in a new G/L system. If you used the ledger approach instead. Which objects would be different? ( any 3 answer) Chart of accounts Financial statement version Depreciation areas Asset classes Leading ledger

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Total numbers of companies listed on stock Exchange?

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Short Answer on __________Revenue

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Expand-------ACNS

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Transfer nett profit of Rs 325000/- to Reserves and Surplus

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Is interest of a business unit Operating Expense or Non Operating Expense

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What will be entry pass in tally if TDS paid by Credit Card.?

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