Interested to Buy Any Domain ? << Click Here >> for more details...
why the profit of a company is shown on the liabilities side
in the balance sheet
- 4 Answers
- 7274 Views
- I also Faced
- E-Mail Answers
Answer Posted / jitu
as profit is ultimately available for the owners and thats
why if we record capital on liability side so profit also
recorded on liability side
| Is This Answer Correct ? | 6 Yes | 0 No |
Post New Answer View All Answers
Your grandfather is 75 years old. He has total savings of Rs.80,000. He expects that he live for another 10 years and will like to spend his savings by then. He places his savings into a bank account earning 10 per cent annually. He will draw equal amount each year- the first withdrawal occurring one year from now in such a way that his account balance becomes zero at the end of 10 years. How much will be his annual withdrawal?
Do you know what is double-entry accounting? Explain with an example?
Hai i have completed MBA in HR(major) And Marketing (minor). Now applying FInance if it possible please tell me
Difference between depreciation according to cost principle and matching principle
Do you know offset accounting?
Account for letter of credit in the books?
X, PURCHASE HOUSE PROPERTY IN 2005, RS 400000,AND SALE IT IN2010, RS 1800000,IF X HANDICAP, AND IN 2008 MADE SENIOR CITIZON, HOW CALCULATE IT?
1. The following data is available. Determine the Break Even point in Sales: Sales : $1,800,000/- Fixed Expenses : $ 375,000/- Variable Expenses : $ 1,200,000/-
What is meant by balancing?
A firm had the following Balances on 1 January 1994: (i) Provision for bad and doubtful debts Rs 2,500 (ii) Provision for discounts on debtors Rs 1,200 (iii) Provision for discounts on creditors Rs 1,000 During the year, bad debts amounted to Rs 2,000, discounts allowed were Rs 100 and discounts received were Rs 200. During 1995 bad debts amounting to Rs l,000 were written off while discounts allowed and received were Rs 2,000 and Rs 5,000 respectively. Total debtors on 31 December, 1995 were Rs 48,000 before writing off bad debts, but after allowing discounts. On 31 December, 1995, this amount was Rs 19,000 after writing off the bad debts, but before allowing discounts. Total creditors on these two dates were Rs 20,000 and Rs 25,000 respectively. It is the firm’s policy to maintain a provision of 5% against bad and doubtful debts and 2% for discount on debtors and a provisions of 3% for discount on creditors. Show the accounts relating to provisions on debtors and provisions on creditors for the year 1994 and 1995.
on what rate depreciation will be calculated?
If we started new project of Housing with Construction linked payment plan . How can booked our revenue or Sales .
Hello Sir, My Name is Shoaib, I am Novice in Accounting Field. I want to learn the simple & step by step, procedure to final my company account. Please Help
how will rectify the error in trial balance.
Sales Invoice 50000/- fully profit , management want profit for this year should be appear in P&L A/c and B/S 25000/- only and remaining 25000/- profit retain for the next year What will be JV for this year and next year?- Thank you
