Interested to Buy Any Domain ? << Click Here >> for more details...
what is the Finalization?
- 2 Answers
- 5294 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Finalization of Accounts is the process of preparing the
Profit and Loss Account for an Accounting / Financial period
(Month, Quarter, Half yearly, Annual,etc.) and Balance Sheet
as on the last day of that Accounting / Financial period
with relevant notes and schedules.
In other words it's process of summarising the business
transactions during a financial period to know the quantum
of profit made or loss incurred during that period and the
position of assets and liabilities at the end of that period.
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / felsy
finalization is the process of preparing profit&loss a/c,
which help to know whether the company has made profit or
loss for the financial period, and to prepare the
balacesheet to know the financial possition of the business
on the end of the finacial period
| Is This Answer Correct ? | 1 Yes | 0 No |
What are the documents to be sent along with the stock sent by courrier to other branch. Its only internal transfer. Will it be enough if we dispatch by Delivery challan?
What is the Special provision for computing profits and gains of business of civil construction
3 Answers GET Engineering Construction,
What is income tax? How is it calculated?
WCT Exemption limit ?? Pl explain on which items WCT is applicable.
how to bifurcate service tax & swachh bharat tax from total tax amount. i.e. If Tax Amount is Rs.28.50/- then Service Tax = ? & Swachh Bharat Tax = ?
how many percentage tds we have to deduct at a bill with heading "being our professional charges towards supervision of local sampling and analysis of rapseed meal
What is export under ribet notification number
What is commercial tax? and what comes under commercial tax? What are the Provisions relating to it?
i wanna p.y tax assistant exam question paper Please send this as earlier as.
Ganesh & Gopal joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Ganesh 90000 Withdrawals of Gopal 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.
How to file the CST return and which form is use.
0 Answers Bharat Bazar, Skyline,
WHAT IS THE TDS RATE ON FREIGHT
7 Answers ABC, Chartered Accountant, Ramky, Spk Software, VS,
Audit 
