As you know, Selling of goods/ services from ones country to another is export. While, Purchasing goods/services from other countries is import. When import exceeds export it affects in balance of trade. It is also called unfavourable or is .....

There are basically 6 types of subsidiary books. Subsidiary books record the repititive transactions of the co. Purchase Book Purchase Return Book Sales Book Sales Return Book Bills Receivable Book Bills Payable Book These are the types of .....

Purchase and sales are commom transactions of any enterprise. In such circumstances, it is no surprise that sometimes purchased goods can be returned both by us and our customers too. This will give rise to purchase return and sales .....

It is the simplest way of calculating depreciation. In this method, The total value of asset  is divided over the useful life of asset after deductioon of salvage value. It will result in same amount  of depreciation each .....

They can be differentiated on basis such as Distribution Uses/ Purpose Nature  Presentation .....

Bank cash book helps in keeping record of all cash  and banking transactions. In that manner, it helps keeping control over those transactions.. Also it helps to show the current position of cash and bank of the company. These can be the .....

Every reserves of the company are disclosed in the balance sheet of the co. Those reserves which are not disclosed in the balance sheet are the secret reserve. These can be the outcome of understatement of assets or overstatement of .....

This concept says that expenses incurred during one period  should be matchedwith revenues earned during that period. Thus it focuses on adjustments of terms such as prepaid expenses, outstanding expenses, accrued revenue etc. This concept .....

Balance sheet is the final step of final a/c It is prepared after finding the net profit/loss from p&l a/c. It has two sides i.e. assets side and capital & liabilities side. Balance sheet helps to know the financial position of the co. at .....

Trial Balance and Balance sheet can be differetiated on basis such as meaning,  division, objectives, preparation .....

These are the expenses  incurred by the co. to purchase the assets. These assets benefit the co.in the long run. i.e. in more than 1 accounting period. Besides purchase All expenses incurred in any asset before putting it to use is also .....

The errors committed by not performimg the accounting transctions are called errors of omission.  It does not affect in the trial balance. It is arises due to any transctions are not  recorded in the book of original entry or journal but .....

Methods of preparing trial balance is as follows;  a. Total method;   According to the this method, trial balance is prepared by considering total of debit and credit of ledger accounts.  Debit totals of ledger accoutns are .....

Trial balance is a statement of debit and credit total or balance of all the ledgers accounts which is prepared to check their arthmetical accuracy. It is a list of each account that contains total or balances at a specific point in time. It is .....

Start with the balance given e.g. here balance of bank is given. You should be careful to see whether negative balance is given or not. Starting with bank balance, our objective is to find out the cash balance. In such case, Those figures which .....

Start with the balance given e.g. here balance of bank is given. You should be careful to see whether negative balance is given or not. Starting with bank balance, our objective is to find out the cash balance. In such case, Those figures which .....

Here , balnce as per cash book is given but we fiond out the balance as per pass book. we should added the amount of chque isssued but not npresented for payment. Interest allowed by the bank but not recorded in cash book increses the balance of .....

Note that cash discount and cash transactions are not entered in subsidiary books. Other than those are simply to be entered in the format The quantity, rate and amount is mentioned and the total is to be calculated properly. The trasactions with .....

When we  preparing the book of Ram . we should calculates the total purchase amounts of each creditors or persons  respectively. magh1, total shiva a/c is calculated by  the no of items multiply by per price of goods.  e.g. .....

a.  Furniture A/C  is debited because it comes in the business and other side , cash is goes out so cash a/c is credited. b. cash a/c is debited ans furniture a/c is credited when seeling the furniture on cash.  c. depreciation a/c .....

The opening balance of provision  will have a credit balance. The amount of bad debt reduces its balance thus bad debt is debited  in provision for bad debt a/c The closing provision(balance c/d) is the amount of provision created during .....

We should , added the Rs. 12000 and Rs. 4500 with the debit balance as per cash book. And deduct Rs. 4,000 from the balance as per cash book because it reduces the balance of cash .....

Here, bank balnce as per pass book ( overdraft) is given, now we find out the  balance as per cash book as a following ways; we added that amount which deducted the pass book account and we deducted that amount which increses the pass book .....

When we preapre the bank reconciliation statement, we  must identify the effects on passbook and cashbook.   In the above question, balance as per pass book is given.  So, we calculates the balance as per cash .....

Here , balance as per cash book is given.    Now, commission  paid by bank as per standing instructions, which deducted the pass book only so, we deducted the same amount from cash book for balancing the both books. Undercast in .....

In the 2006 year, both machines are purchased. At the last date of 2006, we must  calculate the depreciation amount of each machines and depreciation amount  should be posted in the credit side of machinery amount. In the year ,2006, .....

Here, cost of machine rs. 3,60,000 salvage value Rs. 36,000 Now we clculate the amount of depreciation for each year =  amount to be depreciated / no of useful life  324,000/ 5= ..................  Please calculate the answer .....

Under diminishing method, Depreciation is charged on  the closing balance of asset at the year end. Unlike Straight line which has same amount of depreciation, WDV has different amount of .....

Under diminishing method, Depreciation is charged on  the closing balance of asset at the year end. Unlike Straight line which has same amount of depreciation, WDV has different amount of .....

For rectification .....

For rectification .....

For rectification problems, firstly clarify yourslef about  the correct journal entries and then what the mistake has been done Then make the adjustments by the combined effect of those two correctly debiting/ crediting the accounts or the .....

For rectification .....

In such case, Rectification entry can be passed as: Ashok a/c -Dr 18  To discount allowed a/c .....

Note that cash sales  will have no effect on her account. Its journal is  Cash/ Bank a/c -Dr To .....

Furniture is the asset of the company. It will have a debit balance. When furniture is purchased, the assets of the co. increases. Thus furniture a/c needs to be .....

Mr. H has a debit balance  Thus he is a debtor of the company. When goods are sold to him on credit, His a/c is debited with sales a/c This will increase his balance thus increasing the balance receivable from him. When amount is .....

In the case of purchased goods from A,  goods are received so, we debited the purchase A/C. On the other hand, we purchased goods on credit , so we credited the creditors A/c.  In the case of the goods returned from A , Goods are .....

A. In the case of goods sold on cash , we debited the cash A/C  because we received cash from sale of the goods.  Here, cash a/c is debited with the 40 % of sales value and banks a/c also debited with 60% of total values of sales .....

Jornal entries of above transactions are as follows; a. Furniture received from purchased, so, furniture a/c is debited and cash is goes out so, cash a/c is credited according to the rules of nominal a/c .  b. insurance A/c is debited, .....

Journal entries of above transactions are as follows  a. Bank a/c is debited and capital a/c is credited when starting the new business. b. Purchase a/c is debited because goods are received and cash A/C is credited because cash is gone out .....

While providing journal entries understand the .....

क्रय मुल्य = विक्रय मुल्य - .....

Health is a condition where the person is able to his regular activities like going to school playing games So, to stay healthy Eat healthy food. Always take a .....

Let us write down the given information Mass of the first body(m1)= 30 kg Mass of the second body(m2) =20 kg Distance between them(d) = 10 m Gravitational force(F)= .....

1965 .....

A community is a group of people.  People in the community live together in the same locality.  They have common characteristics.  They have a feeling of .....

उपग्रहलाई पृथ्वीको जियोस्टेसनरी कक्षमा यसरी छोडिएको हुन्छ कि, यसमा लाग्ने .....

Giraffe can live without drinking water for more than .....

Some of the home-related misdeeds are: beating, abusing verbally, discrimination between sons and daughters, lack of healthy foods' lack of medical .....