Written on Dec, 04, 2011 by in | Leave a comment

Any claim for money against the assets of a business firm is called liability. Liability is a financial obligation of an enterprise other than owner’fund.  Liabilities is a legal debits of the firm. It means that the firm has to settle the liability either after paying money or render services or to transfer the goods to another person or persons …

Written on Dec, 04, 2011 by in | Leave a comment

When some money is deposited with any third person for some specific purpose that is called deposits in business terms. The security may be deposited for the following purposes in a business firm:- 1. Security deposits for electricity. 2  Security deposits for water 3. Security deposits for telephone. 4. Security deposits for sales tax. 5. Security deposits with suppliers. 6. …

Written on Dec, 04, 2011 by in | Leave a comment

When a business firm gives any loan to its employees or to its sister concerns or to its directors then this loan is shown in asset side of the balance sheet because it is recoverable in future as per the terms of conditions of loans given. Normally, a company other than finance company should avoid of giving the loans. Of …

Written on Dec, 04, 2011 by in | Leave a comment

When a company needs some funds for its working capital or to purchase some fixed assets or for some other purposes,  it has an option to take loan from open market. But the person who gives the loan to a company, would like to have some written proof regarding the interest rate, date of payment of interest and repayment of …

Written on Dec, 04, 2011 by in | Leave a comment

Any profit that arises in a company in special circumstances is called capital reserves. In other words, any profit or gain that arises other than routine business activities is treated as capital reserves. Following are the example of capital reserves:- Profit prior to incorporation of company:- Every limited company is legal and independent entity and does not come in to …


Related pages


performa of trial balanceshare premium account in balance sheetpurpose of sinking funddefine cash receiptstally erp learningtally trial balancedebtors account receivablesales ledger account formataccrued income examplessundry expenses meaning in hindisundry debtorhow to create suspense account in tallydebit voucher formatbank overdraft in balance sheetpurchase return debit noteledger in accounting exampleincome tax slab 2013-14tally trial balancetally for beginnerspost closing trial balance containshow to check tds deductedpetrol expenseshra exemption computationerrors not affecting the trial balancecontra account examplewhat is meaning of gratuityformat of p&l accountlimit for tds deductionredemption hindi meaningwhat is sinking fund in accountingmiscellaneous expense journal entrymeaning of sundry debtorsexamples of miscellaneous expensesdiscount received journal entrycommuted value definitiontally software meaningsundry debtors accountredemption hindi meaningrevenue received in advance journal entrybank account reconciliation exampleinventory in tallyjournal voucher formatsundry creditaccounting ledger notebookif tds not deductedstationery defthree golden rules of accounting with examplesales voucher formatshareholders fund in balance sheetadvance salary paid journal entryreceipt voucher definitionnarration in bankingfinal accounts proformatax slabs for ay 2012-13tax slab for assessment year 2013-14salary to partners in partnership firmhow to calculate bank reconciliation statementtds deductedwhat is tds in income taxinterest on income tax disallowedsynonym for sundrywhat does sundry meantrial balance sumsaliases means in hindihinkhoj question bankdebtors meaning in tamilaccounting for non profit making organisationsincome tax india e paymenttds on saving accountvouching of expensestax rate 2013-14slab rates for ay 2013-14trading profit and loss account format in excelwhat does sundry meansingle column cash book examplecan individual deduct tdscash book example 2 columns