Answer Posted / g.ravi
Bookkeeping (also book-keeping or book keeping) is the
recording of all financial transactions undertaken by an
individual or organization (including a corporation or
legal person). Bookkeeping is "keeping records of what is
bought, sold, owed, and owned; what money comes in, what
goes out, and what is left." Bookkeeping is part of the
accounting cycle, and bookkeepers' work is closely related
to that of accountants.
Two common book keepings are
Single entry and Double entry
Single entry uses only income and expenses accounts
recorded primarily in a revenue and exp.journal.Use in
small business.
Double entry book keeping requires posting of each
transactions twice(debit and credit)
| Is This Answer Correct ? | 32 Yes | 1 No |
Post New Answer View All Answers
How exchange rates are maintained in sap
How you implemented a chargeback system?
what is mba tell me the more benefits in mba
You use the accounts approach for parallel valuation in a new G/L system. If you used the ledger approach instead. Which objects would be different? ( any 3 answer) Chart of accounts Financial statement version Depreciation areas Asset classes Leading ledger
my boss (Managing Partner of a firm) promoted along with his wife a private limited company. he and she spent some Rs. 75,000/- (approx) for the promotion of the company. i know that they usually fall under the head of preliminary expenses. but after receiving the certification of incorporation of the company how shall i repay them to the promoters i.e. what is the accounting entry in the books (initial books of accounts) for the expenditure incurred. they have kept in hand 5,00,000/- each to meet the expenses and they were allotted shares of equal to the amount. can i allot shares for a consideration of cash from and excluding the preliminary expenses. can i take cash towards the share application money (being the cash more than Rs. 20,000/-) as the company has not opened a bank account yet. please give me the detailed answer with journal entries that can be entered in tally. thank you.
What is the difference between Deffered Tax Assets & Deffered Tax Liabilities
what is audit mean? what is vouching? how to finalize the account? what is the meaning of + cast < as per last year auditor’s a/c ^ as per ledger JV journal voucher PV payment voucher AJV authorised journal voucher APV authorised journal voucher RV receiving voucher PCV petty cash voucher CPV cash payment voucher DN debit note DO delivery order PO purchases order CN credit note PS policy schedule RPS renewal policy schedule B bill Cx cross check nCx cannot cross check CB cash bill L list/letter SRF stock requisition form R report OR office report INV invoice DS deposit slip AB assessment bill Re receipt ECF entertainment claim form ATRF air ticket requisition form
You are given the following information in respect of a company: Fixed cost –Rs.13,000 Variable cost –Rs.14,000 Net profit –Rs.3,000 Net sales-Rs.30,000 Find out: a>BEP b>The profit for sales volume of Rs.50,000 c>The volume of sales to make a profit of Rs.10,000
What is PE ratio formula ?
how there prepare bank interview
What is Going Concern, What is Dual Entry , What is Business entity and what are the names of Stock exchanges and currency of some countries, stock market related questions, Exchange rates, Banks and other informations
How does the accounting treatment of a partner's salary differ from that of an employee's salary in a partnership?
about tally erp9
What do you mean by Green-shoe option?
What is the difference between Balance Sheet , Chart Of Accounts and trial Balance?
