Hi,i went for an interview they asked me why a balance
sheet should tally.can anyone tell me
- 2 Answers
- 4342 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / muhammad arjumand
my name is m.arjumand i am an ACCA accounting technition
the answer for your question is
why B.s should be tally
simple answer is that
as we know from accounting equation that
asset=capital+liability
we can easily say that total asset must be eqaul to the
total capital+liability
if there is no liability then asset will be eqaul to the
total capital wich is also called the Net Asset
| Is This Answer Correct ? | 16 Yes | 0 No |
Answer / umesh kanchan
simple
b/s is a statement of accounts which has to tally because
we practice double entry system
one debit & one credit
| Is This Answer Correct ? | 5 Yes | 0 No |
How can you made payment when bill come from vendor, what is the bills have you check.
How would you encourage team building unit for effeciency in the office?
Why have you applied to our firm?
What is the meaning of Central Excise and State Excise Duty & also want to know differnec between them
I renders interior Services, consider one project cost Rs.500000/- Scenario 1 - Material purchased on my Firm Name Material - 300000 -300000 On party behalf Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit Scenario 2 - Material purchased by client Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit In both Profit is same Rs. 50000/-. which is beneficial for me in terms of turnover or tax matters. and if I have to raise a bill to party as per both scenario, how it will affect bill and tax, where will I suffer loss?
Equipment A has a cost of Rs.75,000 and net cash flow of Rs.20000 per year for six years. A substitute equipment B would cost Rs.50,000 and generate net cash flow of Rs.14,000 per year for six years. The required rate of return of both equipments is 11 per cent. Calculate the IRR and NPV for the equipments. Which equipment should be accepted and why?
Please answer me for the followings 1. i taken an office on January @ rent 28000.00 for one year and i paid 14000.00 as first payment balance will be paid on august. in tally how we post this and under which account especially balance 14000.0 under which account. 2.i have taken a loan from mr. A the amount is 100000.00 on January and the interest i need to pay on march 21000.00 the interest which iam going to pay is liability not a expense and it will be a expense in future, how we can post this also in tally and under which account. please somebody guide me who knows regards niyas es
Rent is direct income or indirect income
in accounting process there is summerizing. what is sumarizing? and an relevant example of summarizing?
how many times we can deposit the old currency in one a/c in the bank
How use Budget in SAP, i want to see the report of variant between budget and actuals.
Knowing what you know now, walk me through what you would do differently to drive even more success?
Audit 
