libilities accounts come under what type of accounts(under
real, nominal or personal) if its nominal, generally
nominal will not come in balance sheet, why we shown in
balance shhet?
- 1 Answers
- 3427 Views
- I also Faced
- E-Mail Answers
Answer Posted / prasant m
Liabilities is a Nominal accounts,your second q is why it is
comes under Balance sheet,where as my view first we should
know why we need to prepare Balance sheet?
to find exact position of business at the year ending,how
much assets value excess over liabilities or how much
liabilities excess over assets,by that we can find what is
the business value at year ending.
| Is This Answer Correct ? | 4 Yes | 1 No |
Post New Answer View All Answers
Explain why retained earnings have an opportunity cost associated?
What are the benefits ofparticipation in a depository?
IS ACCOUNTING MBA AND FINANCE MBA SAME OR DIFRENT
while i creating a main asset master there is a error called process being terminated? pls send the solution
Classify bank account, stock of stationary account, returns inward account ou$tstanding rent account and capital account into real, personal and nominal account.
Provision of Bad Debts is made in compliance with the convention of -----------
Why in a cash book receipts are debited while the same if received in our books recepits are credited. Why does cash book have a rule to debit receipts and credit payments. For example if am paying the cash that i owe the company or firm i debit in my books(cash) on the debit side and should credit in the cash book but i cant do that cash book take receipts on the debit side as per the general . please clarify many thanx in advance
Expand MNS
Explain Cash Basis of accounting
someone plz plz plzz.. send me the sample papers for SBI clerical xams... i need it very badly..
What is the journal entry for Call and a Put option both in the books of buyer and seller
what is the step in preparing the schedule of audit? can someone explain for me?
i want report country wise with invoice number for gl account
what is the difference between Assets Allocation & Security selection?
Dear Friends, Please help me with the below, I am new to the current company and newly accountant. My question is, In Balance sheet, Cash in Drawer is showing excess amount and I could not tally it with sales. Please guide me how do I need to tally CASH IN DRAWER? I don't want to reconcile. I only want to tally. Please help. Thanks in advance.
