Answer / arun kumar

according to this concept business is treated as seprate
person or entity, based on this concept captial is treated
as liability to the business, based on this concept we pay
intrest on captial

Answer / vm

business entity concept explains that business is purely a
different entity...It has separate legal existence of its
own.

Answer / jagadish reddy

this concept says that"business entity is a
separate identity apart from its owner.
business transactions are recorded in
business accounts & his personal
transactions are recorded in his personal
book of accounts.

Answer / sravan

According to this Concept
Business is different from Person(Owner).
This Concept will create Separate Status to Business.

Answer / devi

According to this concept, it should be noted that only business transactions should be taken into the account. Personal transactions should not be clubbed into this. eg: Proprietor's Insurance Premium. This premium is a life of the proprietor's and it is completely personal so it comes under "Drawings" account.

Expand ------BSP

1 Answers  

I am a student of ICWAI (Intermediate). I looking for some information about Rayalty and Hire Purchase.

8 Answers  

A company staff's visa procedure's expenes are treated as indirect expense or not. please give the journal entry and tally posting.

2 Answers  

Expand-------ACDR

1 Answers  

Tell me the General entry for provision for bad debts?

19 Answers   Capita, JMD Group, JPMorgan Chase, LR, State Street,

what is the procedure for issuing th C form

0 Answers  

From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.

0 Answers   Ignou,

Expand ________BSF

2 Answers  

what is method of deperciation?

2 Answers  

What is RTGS system and when it was formulated and who?

2 Answers  

give journal entries for the following jan-1 started business with cash 50000 & loan 80000

14 Answers   Ascent,

is TDS is applicable on purchase of geo textile fro outside state c.s.sarmah Assam

1 Answers