what is mean by accounts

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what is mean by accounts..

Answer / kalpna

ACCOUNTANCY IS A SYSTEM WHERE WE KEEP & SUMMREISED DETAILS
OF DAY TO DAY TRANSACTIONS OF THE BUSINESS.

Is This Answer Correct ?    6 Yes 1 No

what is mean by accounts..

Answer / kolawole

Accounts is the way of keep records of money spent and recieved

Is This Answer Correct ?    3 Yes 0 No

what is mean by accounts..

Answer / ram

accounts is a process.
which one is involves in all business or company
transactions called accounts.

Is This Answer Correct ?    3 Yes 0 No

what is mean by accounts..

Answer / shankar_285

accounts is mean by maintain books,p&l accounts,balance sheet, schedule etc......,

Is This Answer Correct ?    5 Yes 3 No

what is mean by accounts..

Answer / anchit saxena

accounting is the requirement for all of the business
entity so every business entity keeps maintain their books
of accounts on accrual basis without maintaining of
accounts we can't get a clear picture of the concern.

Is This Answer Correct ?    1 Yes 0 No

what is mean by accounts..

Answer / riyasdeen

accounts means recording of company transaction records
like expenses and losses

Is This Answer Correct ?    1 Yes 1 No

what is mean by accounts..

Answer / banoj kumar swain

IT IS A STATEMS WHERE ALL THE TRAANSACTION WERE EXPLAINED
IN TERM OF DEBIT AND CREDIT

Is This Answer Correct ?    1 Yes 2 No

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Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.

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