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Manisha Jhingran 8 years, 7 months ago
Because, as per accounting equation concept and dual aspect concept, our total liabilities must be equal to total assets, Now in opening entry, if total liabilities stand higher than total assets, it indicates some more asset should be there, which is taken to be goodwill.
Alternatively put, a business may be able to avail more credit beacuse of tghe name, fame and image (goodwill) it has developed for itself in the market.
Posted by Bhawani Singh Rathore 8 years, 7 months ago
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Manish Gandhi 8 years, 7 months ago
Debtors are individuals from whom business owed money due to credit sale to them.
Posted by Versha Choudhary 8 years, 7 months ago
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Deepika Sengar 8 years, 7 months ago
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Manisha Jhingran 8 years, 7 months ago
Cash Book is for cash transactions only. no credit transactions can be recorded in it.
Posted by Ani Boro 8 years, 7 months ago
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Posted by Sonu Kumar 8 years, 7 months ago
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Manisha Jhingran 8 years, 7 months ago
Honoured our own acceptance means payment made against the cheque that businessman issued.
For example, if you give a cheque to someone, and when the amount is deducted from your bank account, the cheque is said to be honoured
Posted by Sonu Kumar 8 years, 7 months ago
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Manisha Jhingran 8 years, 7 months ago
Could you be more specific about what you want to know?
Journal Entry?
B's A/C Dr.
To Sales A/C
Posted by Akash Kumar 8 years, 7 months ago
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Prakash Tiwari 8 years, 7 months ago
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