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Answer Posted / ansar
the liablity like what r the outstanding & we should to pay something called liablity.. etc
supplier outstanding , make any loss of provision.
ex: car loan " car" is assets" but "loan" is like liablity
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A motor car purchased on 1 apr 10 worth rs 10000 taking a loan from bank of rs 8000. Emi will b 500 pm inclusive of interest rs 100 pm.all repayments are done by bank overdraft. Prepase bshEet & P&L as at 31 mar 10
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