Why profit is a liability and loss is an assets
- 20 Answers
- 103203 Views
- Banesco Seguros, FactSet Systems, IIM, South Indian Bank, I also Faced
- E-Mail Answers
Answer Posted / k.kutty
A counter question is there. Why Share capital is a
liability? Profit is supposed to go the proprietor who
invest the money. So the place of a profit is there where
share capital is. Loss is not actually an asset like land,
furniture, stock or other intangible assets. Due to the
mechanisam of the Balance sheet and a loss always has a
debit balance it appears in the part of Asset side.
| Is This Answer Correct ? | 46 Yes | 10 No |
Post New Answer View All Answers
what do u mean by arrear basic or arrear hra?
is there any chance for confilcts between an accountant and a sales executive ? If yes how do you resolve the same as an accountant ?
Which entry we pass self entry like cash withdraw for ourself
Workers name-Madhu Saha.Pay structure,basic-5850,HRA-1350,CCA-900,TRAV.ALLOW.900.DEDUCTION-PF-702.ESI-150,P.TAX-90.WHAT IS THE EXTRACT IN PF,ESI,IN BALANCE SHEET & sALARY IN p/l A/C . iS IT POSSIBLE THAT PERSONS'S NAME SHOUL COME I P/L
In sales what rule applicable
why are you selecting for the controlling area same company code?
Difference Between Revenue & Capital Expenditure (Give an Example of each )
From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
What is share,Bond, sharecapital, Budgeting, BRS, CA, CL, WC, WACC, Depreciation, types of Depreciation, B/S, CF items and some transactions and Preference Share capital, Equity Share Capital , Debenture and practicle Questions to solve and tell there itself whether the co's good for investing etc..like opinion for problems to find out how good one is with basics.
how many schedules are there in accounting?
In IGATE, 2 yrs bond for fresher and reverent experience 1 year bond. First z essay writing. “Unforgettable movement ur life” Tiz in ITPL IGATE stopping
What is the difference between income statement & Profit&loss A/c?
is it necessasary to make a partnership deed
in what form is crr kept in RBI?
Expand--------TOS
