Answer Posted / libin kulamuttom

In copany's book the entry
will be:
By cash
To capital
[Here the busines is liable to
pay tha amount to the owner]
At the same time the owner
will also prepere his own
account.There the entry will
be:
By cash
To loan from mr.x
[here the owner is liable to
pay the amt to Mr.x personally]

Types of errors in account

1616

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What is the objective of the balance sheet?

1196

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There is no item category assigned to account

2178

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in insolvency we have to prepare deficiency account but why we do not prepare this account as per general principle i.e Dr Cr To By etc , and deficiency account is which account?

5089

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Tell us what is the abbreviation for the accounting terms debit and credit?

1121

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Which kind of transactions are not recorded in the books of account?

1846

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I purchased a machine and finance it by bank with the amount 1900000 and bank apply the finance charge 440000 for 3 years finance how to pass this entry still machine value is 2200000 is finance charge is interest (indirect exp.) pls help me.

1783

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At the time of advance tds deducted 2% contract which was wrong but when we adjusting the adavace tds deducting 10% rent how can we adjusting that amount

1464

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i have selected jr. accountant/ auditor in ssc graduate level 2008 scheme b. but i have not yet received deptt. memo and also appointment letter. when it will be come??? how much time???

1965

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if a sole proprietor pays his firms insurance policy , How it should treated in books of accounts? whether it should be treated as investment? or indirect expenses?or drawings?

1547

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What are the effects when intangibles and tangible assests decrease

2169

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Do you know overhead in terms of accounting?

1102

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What are the steps to take before you approve an invoice for payment?

1169

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i had taken one year gap in completing my graduation bcom should it be considered as backlogs i dont have any kt or anything else i have passed all exam in one trial

2059

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If a promoter has purchased an asset on behalf of the company before the incorporation of the same then what will be the accounting treatment to record the asset in the books of company

1572

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