Compare and contrast the accounting procedure followed by a
sole trader and a partnership firm.

Answer Posted / sonali

In partnership firm P/L Appropriation a/c is prepared in
sole partnership it is not required..

Is This Answer Correct ?    3 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

where we use the convetion of conservatisam in real life??

1578


what is circuit filter?

1497


Why you choose commerce faculty & not science or Why you are in commerce & not in science ?

1678


Comments Elements in accounting

1404


my boss (Managing Partner of a firm) promoted along with his wife a private limited company. he and she spent some Rs. 75,000/- (approx) for the promotion of the company. i know that they usually fall under the head of preliminary expenses. but after receiving the certification of incorporation of the company how shall i repay them to the promoters i.e. what is the accounting entry in the books (initial books of accounts) for the expenditure incurred. they have kept in hand 5,00,000/- each to meet the expenses and they were allotted shares of equal to the amount. can i allot shares for a consideration of cash from and excluding the preliminary expenses. can i take cash towards the share application money (being the cash more than Rs. 20,000/-) as the company has not opened a bank account yet. please give me the detailed answer with journal entries that can be entered in tally. thank you.

1516






Expand----------MTSC

1723


what is the procedure of interview question in genpact

1782


EXPAND_________SEB

1566


What si the differance between REVENUE and PROFIT?

1485


HOW CALCULATE ADVANCE TAX ? PLEASE EXPLAIN IT ?IN CASE OF FIRM, IF WE PAID FIRST INSTALMENT OF ADVANCE TAX.

1601


Hi Im Arun D. I m short listed for Karnatka bank interview. Can anybody share ur experiences regarding Bank interview of karnatka bank which was held on dec for Clerical post. Please help me I f u can. thanx in advance

1510


WHAT IS GENERAL LEDGER HOW MANY TYPES OF IT, AND WHEN GL WILL USE IN WHICH SITUATIONS DESCRIBE ME

1603


What is the definition of LOSS. Give the formula if any.

1708


My BASIC Salary is 18,000

1264


Hello Everbody....this saturday i attended the interview of times job fair...were capgemini has called me for technical round ..I am bcom graduate with tally an SAP FICO....Can any body help me ... I wan to know what is this technical round...An what they may ask me ......if any body have question an answer kindly send to my id ..that is damudi123@yahoo.com....or contact me to my number ..+919900410314.Or any body have friends working in capgemini bangalore?Please i need urgent help...thnak you with regards adnan hasan

1952