What are the contemporary applications used in AP/AR?
What is Form No. 8E ? Explain in what situation Form No. 8E can be issued.
what is miscellaneous expenses & why they carry forward every year
Latest Answer: Miscellaneous expenses are the petty expenses, which every business incurr in their day to day transaction, these could be refreshment expenses, conveyance, postage etc. for accounting these expenses are generally debited to single account i.e. miscellaneous ...
Is it Possible to negotiate a LC with Duplicate copies? LC its mentioned its posible and consigne wants the original documents? What are its consequences
How can we caluculate HRA, DA, DP in taxation.
Formely Tax Accounting is stated as upper level accounting, how can we demonstrate it?
What is the difference between financial account and financial statement
Latest Answer: Financial Account is an Individual ledger of an account (Ex: Sales A/c, Purchase A/c, Vendor A/c, Customer A/c), whereas Financial Statement is a final picture of an organisation like Profit & Loss Account and Balance Sheet ...
Why always Liabilities are on left side and Assets on right side in Balance Sheet?
Latest Answer: It is nothing but convention.In United States they mention Assets on left and Liabilities on the right side.Vasudeo ...
Using Periodic inventory system: debit creditMerchandise inventory 7/1/05 32,000Sales 380,000Sales returns 12,000purchases 240,000 purchase discounts 6,000purchase returns 10,000freight-in
Why do we prepare Trail Balance?
Latest Answer: Trial balance will show Net balances of all accounts irrespective of nature of account such as Assets, Liabilities, Income and Expenses. Once the Credit and Debit balances of a Trial Balance will tally then onle we can proceed for Profit & Loss A/c ...
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