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what balance does fixed assets show?
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Answer / satyaki_raju@yahoo.com
Assets whether fixed or current always show adebit balance
| Is This Answer Correct ? | 7 Yes | 3 No |
Answer / rajesh.m
Fixed assets will show Net Book value i.e
NBV = Gross book value - Depreciation
| Is This Answer Correct ? | 7 Yes | 4 No |
Answer / chandu
fixed assets shown in the balance sheet net present values of assets.
npv = fixed assets - depreciation
| Is This Answer Correct ? | 1 Yes | 0 No |
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42. G.Simkins sends back stock to J.J. Fabrics (a supplier), having originally purchased it on Credit. J.J. fabrics issued a Credit note for the value of these goods. In simkins’ books, the double entry for this transaction should be. a) Debit : J.J. Fabrics; Credit purchases b) Debit : purchases; credit J.J. Fabrics c) Debit : J.J. Fabrics; credit purchase returns d) Debit: purchases returns; credit J.J Fabrics.
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The following Trial Balance was extracted from the books of Chetan.Do you think that it is correct? If not,rewrite it in the correct form. Debits Rs Credits Rs ------------------------------------------------------------ Stock |8250 | Capital |10000 Purchases |12750 | Sales |15900 Returns outward |700 |Returns inwards |1590 Discount received|800 |Discount allowed |800 Wages & salaries |2500 |Scooty |1750 Rent and rates |1850 |Carriage charges |700 Sundry debtors |7600 |Sundry Creditors |7250 Bank Overdraft |2450 |Bills payable |690
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