Furniture is Destroyed in Fire ??
Where it will effect in Balance sheet ??
Answers were Sorted based on User's Feedback
Answer / guest
furniture is effect asset side isto deduted old furniture
Is This Answer Correct ? | 11 Yes | 3 No |
Answer / syed rizwan ahmed
Debit "Exp. & Revenue Summary A/c
Credit "Furniture A/c"
Effect on Balance Sheet
Fixed Assets decreases (Assets Side)
Retained Earning decreases (Liabilities Side)
Is This Answer Correct ? | 3 Yes | 1 No |
Answer / jeevan kamble
there should be 2 effects!
1. P&L A/C debit site
2. asset side (less from furniture )
Is This Answer Correct ? | 2 Yes | 0 No |
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
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