Answer Posted / laymanblog

Debit Balance of P&l a/c means the loss incurred by the
company in an financial year (Expenses are more than Incomes)
this is usually debited(-) to Reserves and Surplus in
Liability side. But it is in practice to show it in Asset
side, where in future this figure is written off on incomes
pouring in. This is done to show a better Financial statement.

How does accounting contribute to the community?

1116

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By saying, perpetual or periodic inventory system; what do we mean?

1197

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What does the standard journal entry includes?

1064

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Can salary paid to promoters before incorporation be taken as a part of pre-incorporation expense? If yes how is the TDS part to be dealt with?

2653

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I want to know accounting information in oracle apps projects costing module. i.e Which account is cr and which account db. Please help me.

2143

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What is the difference between a provisions and reserves?

1066

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Debit Card Come Under Which group in Tally 9?

1918

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Explain what is account receivable?

1085

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Mention what are things will not be included in a bank reconciliation statement?

1157

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Tell me what is public accounting?

1067

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service tax calculated on agreement value or market value whichver is higher for builders?

2316

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1.recivable and payble 2.pf,tds,esi

2048

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Scheme is given by a company to his distributors on sale of goods, what is the treatment of this scheme distributors hand Direct income or indirect income

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Do you know what qualities and skills make an account manager successful?

1116

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What is service tax & excise?

1110

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