Answer Posted / suresh
Business entity concept: It is one of the main accounting
principle of accounting this concept says that Business
should be treated seperately from the properitor or investor
In simple words owner of the business should be treately
sepreatly from the business what ever profits come in to
the business should be taken in company account.
that why capital in liabilities side.
| Is This Answer Correct ? | 10 Yes | 0 No |
Post New Answer View All Answers
How to calculate Term Loan interest and the double entry for Term Loan ? What difference between hire purchase and term loan ??
Explain what is accrual accounting?
How do you prepare mis reports?
What are the difference between Debit Memorandum and Credit Memorandum?
total assets are equal to total liabilities in final accounts ?why?
i got a case study in which theie is a chemical company group which has 12 companies in all, few in Europe and few in USA, my question is should i have only 2 COA as per the standard like US GAAP and IFRS or should i have COA based on country location.
CAN C FORM AND F FORM BE ISSUED FOR SAME JOB WORK CONTRACT CONSIGNMENT
Tell me how many types of business transactions are there in accounting?
What is budget variance analysis?
what is use of cost center category in tally ? why & when use this ? what is benfit ?
Tell us depreciation and its types?
What is an operative accounts?
What is the definition of offset accounting?
The following are the list of Balances of SUNSHINE Company as at 1.2.2012 RM Land and building 450,000. Furniture and Fittings 35,000. Office Equipment 25,000. Motor Vehicles 75,000. Inventory 5,000. Trade Receivables 12,000. Trade Payables 8,000. Bank Loan 200,000. Bank 13,000. Cash in Hand 1,000. Capital 408,000.
bank jobs
