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What is Asset& Liabilities?
What is depreciation And define methods.
what is BRS and when we can use .
Explain Acconting concepts & principles.
General entry for paybles.
What is dividend?
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Answer / sarika
dividend means??
A co which got huge profits will distribute those to the
share holders. it may be in the form of cash or stock.it
may be issued 4 times in a year(4 interims means once in a
quarter)according to percentage fixed by the board of
directors.
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / ravichandra
Hi,
Depreciation is a measuare of the wearing out, consumption
or other loss of a value of a depreciable asset arising from
use, effulaction of time and obsolvence.
Depreciation is a process of allocating the depreciable
asset of an its estimated life of the period.
BRS
Brs means Bank reconcilation statement. its to be prepared
to know the difference between cashbook and pass book. its
to be prepared for monthly one time.
Accounting concepts are very very important in the
accounting. because of every accountant in the world should
have follow the conceps. there are called as gaap. it means
generally accepted accounting principles
these are
- Business entity concept
- money measurement concept
-cost concept.
-dual concept
-going concern concept.
entry for paybles is
SUPPLIER NAME A/C DR
TO CASH/BANK A/C.
| Is This Answer Correct ? | 7 Yes | 2 No |
Answer / aman vohra
Assets denotes those items which generate benefit to an entity in the coming future. Whereas, liability is the money payable in respect of arranging Assets or incurring expenditure.
Depreciation is the amount of amortization of fixed assets, due to normal wear and tear on account of changes in environment, regular use etc. Depreciation is calculated either on Straight line method or the WDV method. Under Straight line method, the total cost less salvage value is divided with the number of accounting periods, in which the asset is expected to give benefit. Under WDV method, depreciation is computed on an derived percentage on WDV at the beginning of each accounting period.
BRS refers to the Bank Reconciliation Statement. This statement explains various items resulting in difference between book balance and bank balance.
There are several accounting concepts and accounting principles. Generally, Historical cost concept is used and the accounting is done under GAAP, IFRS etc.
Journal entry for payable is as follows:-
Dr. Asset/ Expense Account
Cr. Provision for expense/ payable A/c
Dividend is the amount of profit divided among the shareholders in a limited liability company.
| Is This Answer Correct ? | 3 Yes | 0 No |
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