Question { TCS, 3317 }

where will lostv appear in balance sheet?

Answer

Loss will be displayed on liability side under Profit & Loss
A/c as Current Year Profit/Loss +/- Last Year Profit/Loss.
Calculate as per Profit/Loss.

Question { 3443 }

What is investment banking?

Answer

Investment banking includes a wide variety of activities,
including underwriting, selling, and trading securities,
providing financial advisory services, and managing assets.
Investment banks cater to a diverse group of stakeholders –
companies, governments, non-profit institutions, and
individuals – and help them raise funds on the capital
market. They perform the following major functions for their
customers:
• Serve as trading intermediaries for clients
• Lend and invest banks’ assets
• Provide advice on mergers, acquisitions, and other
financial transactions
• Research and develop opinions on securities, markets, and
economies
• Issue, buy, sell, and trade stocks and bonds
• Manage investment portfolios

Question { Syntel, 8017 }

when we debit any party in our account?

Answer

When business sells/provides goods or services for cash,
Cash A/c has to be debited because cash is coming in. Rule
of Real A/c : Debit what comes in.

When business occurs expenses/losses, it has to be debited.
Rule of Nominal A/c : Debit all expenses & losses.

When business sells/provides goods or services on credit,
the person/firm has to be debited as the person/firm is
receiving goods or services, so the the person/firm is
receiver. Rule of Personal A/c : Debit the receiver.

Question { KPSC Karnataka Public Service Corporation, 37328 }

what type of acounts is share application account

Answer

Share Application A/c is Personal A/c as the share is
capital for business received by the owner of business or
any other person. So the person investing in the business in
the form of share is giver. Rule of Personal A/c : "Debit
the receiver, credit the giver" is applicable.