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Ask QuestionPosted by Shubham Jha 6 years, 6 months ago
- 2 answers
Yogita Ingle 6 years, 6 months ago
Financial accounting is the field of accounting concerned with the summary, analysis and reporting of financial transactions pertaining to a business. This involves the preparation of financial statements available for public consumption.
Posted by Yash Bhardwaj 6 years, 6 months ago
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Posted by Tophan Rajput 6 years, 6 months ago
- 1 answers
Banak . 6 years, 6 months ago
Posted by Manpreet Kaur 6 years, 6 months ago
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Posted by Shweta Singh Shweta 6 years, 6 months ago
- 1 answers
Aadharshini Sudha 6 years, 6 months ago
Posted by Disha Sukhani 6 years, 6 months ago
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Posted by Sweksha Rani 6 years, 6 months ago
- 1 answers
Sanjeev Kumar 6 years, 6 months ago
Posted by Sumit Kashyap 6 years, 6 months ago
- 3 answers
Posted by Sumit Kashyap 6 years, 6 months ago
- 1 answers
Ashwini Tiwari 6 years, 6 months ago
Posted by Diya Mittal 6 years, 6 months ago
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Posted by Tanisha Asrani 6 years, 6 months ago
- 1 answers
Posted by Ameen Mohd 6 years, 6 months ago
- 1 answers
Sia ? 6 years, 6 months ago
The expenses incurred in acquiring a Fixed Asset or improving the capacity of an existing asset, resulting in the extension in its life years is known as the Capital Expenditure like Furniture, Building etc. On the other hand, the Expenses incurred in day to day activities of the business are known as revenue expenditure like salaries, rent etc.
Posted by Ritu Rawat 6 years, 6 months ago
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Posted by Tarun Tripathi 6 years, 6 months ago
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Posted by Tanush Agrawal 6 years, 6 months ago
- 1 answers
Purva Dhammi 6 years, 6 months ago
You must find all the entries related to m/s singh and co and then this que could be solved.
for example -
Amount due to m/s singh and co is Rs. 40,000
And discount availed is Rs. 400
So the journal entry will be as under ---
M/s singh and co. Dr. 40,000
To cash/bank a/c 39,600
To discount received a/c 400
Explanation-
M/s singh and co is debited because he is the received.
Cash or bank a/c is credited because cash is going out.
Discount received is credited because it is a gain.
Posted by Naman Jain 6 years, 6 months ago
- 0 answers
Posted by Amit Kumar 6 years, 6 months ago
- 1 answers
Posted by Ashok Aman 6 years, 6 months ago
- 1 answers
Sia ? 6 years, 6 months ago
Capital is the wealth in the form of money or other assets owned by a person or organization or available for a purpose such as starting a company or investing.
Posted by Jayant Arora 6 years, 6 months ago
- 2 answers
Sia ? 6 years, 6 months ago
Owner's equity represents the owner's investment in the business minus the owner's drawings or withdrawals from the business plus the net income (or minus the net loss) since the business began.
Posted by Riya Riya 6 years, 6 months ago
- 2 answers
Ashwini Tiwari 6 years, 6 months ago
Sia ? 6 years, 6 months ago
A creditor is an entity or person that lends money or extends credit to another party. A debtor is an entity or person that owes money to another party. Thus, there is a creditor and a debtor in every lending arrangement.
Posted by Dhrub Das 6 years, 6 months ago
- 1 answers
Gaurav Raj 6 years, 6 months ago
Posted by Mukund Choudhary 6 years, 6 months ago
- 1 answers
Sia ? 6 years, 6 months ago
In case goods are not insured the total loss should be shown on the credit side of the trading account. The same amount should be shown on the debit side of the profit and loss account. If goods are insured and insurance company admitted the claim, the total loss should be credited to the trading account, amount claim not admitted by the insurance company is debited to P&L account andclaim admitted is shown on the asset side of balance sheet
Posted by Ishita Dhir 6 years, 6 months ago
- 2 answers
Sia ? 6 years, 6 months ago
Assets means something which is giving benefit today and will continue to give benefit in the future. As debtors means the one from whom the money is to be collected or the people who owe money to us as they were given benefit from us (example credit sales) are termed as debtors.
Posted by Ishita Dhir 6 years, 6 months ago
- 1 answers
Yogita Ingle 6 years, 6 months ago
Bank overdraft is a liability. Bank overdraft is a negative bank balance which refers to excess money as compared to the amount deposited, has been withdrawn from the bank. Account. The business organisation has to repay the excess money withdrawn from the bank, and hence it is a liability for the business.
Posted by Avtar Singh 6 years, 6 months ago
- 0 answers
Posted by Naveen Parnwal 6 years, 6 months ago
- 1 answers
Yogita Ingle 6 years, 6 months ago
(1) Two or more individuals or enterprises, either private or government, owned or a foreign company joining together through participation in equity capital for achieving a common target and mutual benefit is known as joint venture.
(2) Joint venture involves pooling of resources and expertise as well as sharing of risks and rewards by these enterprises.
(3) These enterprises agree to join together for the expansion of business, development of new products or for penetrating into new foreign markets.
(4) Joint ventures are formed either for long-term projects or for short-term projects.
(5) The basic purpose of joint ventures is to attain a strong position for both the enterprises.
Posted by Adarsh Kapoor 6 years, 6 months ago
- 0 answers
Posted by Rahul Kumar 6 years, 6 months ago
- 1 answers
Diksha Rathor 6 years, 6 months ago
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Saloni Jain 6 years, 6 months ago
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