How to Finalized Accounts? Please Guide.
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Answer / rupaun barua
After completing the recording of financial transaction,
all adjusting entries will have to be recorded in the
ledger and finanally a Balance Sheet will have to be
prepared by taking ledger balances.The Balance Sheet is
called the end product of Accounts.
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WHAT ENTRY PASSED IN BOOOKS OF ACCOUNT IF INVOICE BILING AS UNDER :. SUB TOTAL = 428325.45 VAT @12.5%= 53540.68 Additional vat 1%= 4283.25 ORDER DISCOUNT = (9722.99) ROUNDED OFF = 0.39 -------------------------- NET AMOUNT = 476426.00
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