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project: comprehensive project of any sole proprietorship business. this may state with journal entries and their ledger postings, preparation of trial balance. expenses, incomes and profit (loss), assets and liabilities are to be depicted using pie chart / bar diagram.(minimum 25 transactions

Posted by Priyanshi Pal 2 years, 10 months ago

CBSE > Class 11 > Accountancy

2 answers

Ehathisham Ul Haq 11 months, 2 weeks ago

answer please

9Thank You

Ariyan Keshri 10 months, 2 weeks ago

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95Thank You

ANSWER

Neha Mishra 2 years, 10 months ago

Expenses refer to those costs that are incurred to earn revenue for the business. It is incurred for maintaining profitability of the business. It indicates the amount spent to meet short-term needs of the business. It is shown in the debit side of the profit and loss account or trading account.

1Thank You

Himanshu Pandey 2 years, 11 months ago

@Riya Pal for more details and better understanding ........Jb koi entry trace ni hi pati.. Jaise bank me paise aye lekin pta ni hai k konsi party se aaye to kuch time k liye suspense account me daal dete hai Jb clarity aa jati to relevant account me post kr dete hai

2Thank You

Purvansh Gupta 2 years, 11 months ago

Suspense accounts contain entries where there are uncertainties or discrepancies. For example, if an individual makes a deposit but accidentally writes down an account number incorrectly, that money will be housed in a suspense account until the error is corrected.

Ritika Sharma 2 years, 11 months ago

As per schedule showing the item of difference between the bank statement and the bank column of cash book is known as bank reconciliation statement...

3Thank You

@Arun Kumar The father of modern accounting is Italian Luca Pacioli, who in 1494 first described the system of double-entry bookkeeping used by Venetian merchants in his Summa de Arithmetica, Geometria, Proportioni et Proportionalita.

0Thank You

@Ratnesh Mahto Accounting can be defined as a process of reporting, recording, interpreting and summarising economic data. The introduction of accounting helps the decision-makers of a company to make effective choices, by providing information on the financial status of the business.

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