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What is the accounting treatment for finance lease in
lessee's viewpoint?
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1)What will be the journal entry for these? a) Salary paid to Ganesh b)Sum of Rs 200 realized for sale of old furniture 2)Goods sold on credit for Rs 100
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Why Copyrights,patents,goodwill etc.etc. falls under real account and not nominal or personal account? I know anything which affect trading & Profit & Loss accounts are nominal accounts.And the above do not affect the Trading or P/L accounts but on the other hand they are intangible and neither can they fall under real accounts as Real accounts are those that are not personal and they are tangible. Again in another way if we see, Patents, Copyright ,Goodwill etc. etc. kindoff acts as a representative of a person or a company like in the same way as a Bank or Company name,so they can they not fall under Personal Account??
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