in accounting process there is summerizing.
what is sumarizing? and an relevant example of summarizing?
Answers were Sorted based on User's Feedback
Answer / shishir
Summarizing in Accounting means preparing the Trial Balance.
Lets understand it. When a transaction takes place, we record it in the journal (known as RECORDING), and from there it is posted to the concerned ledger accounts (known as CLASSIFYING). The above process continues till the end of the financial year, at the end of which we BALANCE all the ledger accounts and bring the balances to one place (so we SUMMARIZE) called Trial Balance.
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / shailendra bisht
it is the process of accounting its come after data collecting
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sai pradeep
Accounting is collecting data from relavent source
Is This Answer Correct ? | 0 Yes | 0 No |
what are doucement required under registration of properity firm. give the answer breif
Topic contra entry; How to post cash withdrawn from bank for office work? the journals to be passed?
what are the adjustments and treatment with connection to the profit and loss appropriation accounts and how they do?
How new/innavtive assets are to be treated under IFRS?
In which account does the unpresented cheque will get recorded?
If We Are Purchase Any Service For Ex. Agency Charges From Creditors & Give Or Sale The Same To Debtors; Then How I Open Agency Charges Ledger? What Is The Grouping Of It? Is It Purchase A/c. Or Sales A/c.? And If Its Purchase A/c. Then How I Enter It In Debtors A/c. Or Should I Make Two Different Ledgers With Two Groupings Purchase One And Sales One?
net worth is: 1)total assets less outside liabilities 2)total liabilities plus owner equity 3) current assets less current liabilities 4) total accumulated profit less liabilities choose correct and with deatail.
How to pass VAT retention entry on computer and Furniture
0 Answers Athena, Blue Consulting,
what is the entry for toll gate fee
WHAT ARE THE LIMITATIONS FACING ACCOUNT CONCEPTS AND CONVENTIONS?
what is a difference between Sale as per return or sale as per book.. please explane it..
What is the difference between capital expenditure & revenue expenditure