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a companys assets minus its liabilities is
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Answer / rakesh
a companys assets minus liabiliaties is capital.
| Is This Answer Correct ? | 19 Yes | 3 No |
Answer / middevenkatesh
assets-liabilities=networth or owners equity
| Is This Answer Correct ? | 10 Yes | 0 No |
Answer / reeben
If the company is a sole propritership , it is the owner's
equity.If the company is a corporation , it is the stock
holders' equity
| Is This Answer Correct ? | 5 Yes | 0 No |
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DEAR ALL, HOW TO ACCOUNT THE SALARY ADVANCE A/c. I HAVE TAKEN AN ADVANCE OF Rs.25000/-. I HAVE DEBITED SALARIES ADVANCE A/c AND CREDITED THE PETTY CASH A/c in TALLY. I dont't know whether it is correct or not. If correct, in my individual ledger no entry is reflected. Alternatively, if I debit my self and credit petty cash a/c it is reflected in the P & L Account, but it is not an expense. and not reflected in the balance sheet, but reflected in P & L. I think I need to put a journal entry. Like debiting the salary account and crediting the salary advance account. Is this correct or not? Can any one help me please. my mail add: cdvijay100@yahoo.co.in or kmlnkml@live.com
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