Answer / meenakshi kuamri

For preparing balance sheet first of we post all entries in
ledger from journal and then those are entered in trail
balance. With the help of trail balance we prepare a trading
account in which make entries of all direct expenses and we
find out gross profit or loss which will be transferred to
P& l account and then all assets and liabilities are entered
in balance sheet

Answer / guest

balance sheet is prepared after calculating all the assets
& liability.

Answer / vijayaraghavan

opening balance
(ADD)
Drawings
(ADD)
Income
(LESS)
Expenditure

What Is Bank Reconciliation ?

2 Answers  

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Please guide in Taxation. I want to know the CHALLAN NO, FREQUENCY OF TAX DEPOSIT,FILING FORM NO, FREQUENCY OF FILING OF ALL TYPES OF TAX(DIRECT & INDIRECT)

1 Answers  

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Your marketing company has been working on a consulting project for a client. Your team has worked on the project for two months, and it is now year-end. The project will be completed by February of the next year, and the client has not yet been billed. For the financial statement, how should project be classified?Should the costs associated with an uncompleted consulting project be classified as a work-in-process asset on the balance sheet or should the cost be expensed on the income statement as a part of the doing business?why?

2 Answers  

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what do u mean by profit prior to incorporation

1 Answers  

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what is MIS report we prepare it?

7 Answers   Genpact,

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why only 6 months interest is charged on drawings

0 Answers  

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what is the differance b/w direct & indirect exp

2 Answers  

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In excise one dealer gives us two invoice. one is only tax invoice and other is duplicate for transporter.and both are are the different serial no so in which bill is posted in accoounting transactions.

1 Answers  

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what is capital reserve

0 Answers   Accenture, Linc Pen,

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Please let me know in which Section we can disallow loss on sale of assets which has been debited in profit and loss account

1 Answers   Genpact,

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Tell me what is “deposit in transit”?

0 Answers  

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Purchase a goods from venkat for cash,it should be credited to Whom

9 Answers   TCS, Wipro,

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