ISSUE OF SHARES AND TYPES OF SHARE CAPITAL ISSUE OF SHARES A company needs money to start a business. IF A person wants to start a business it can start a business as sole proprietorship where he alone do the business and invest his own money but it if needs funds than it can convert …
WHAT IS COMPANY ACCOUNTS BASIC CONCEPT (ACCOUNTING FOR SHARE) If a business is started as a business under such conditions company accounts need to be maintained. What is a company? Definition : “A company is an artificial person created by law having separate legal entity with a perpetual succession and common seal.” A separate …
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Journal Entry of fixed deposit in Accounting Journal Entry of fixed deposit in Accounting What are fixed deposit . When a fixed amount of money is deposited in bank and bank promises to pay interest along with the fixed deposit amount to its customer this amount is called as fixed deposit. In accounting Fixed deposit …
Journal entry of Bad debts and Bad debts recovers in Accounting Bad debts and its journal entry Bad debts When we sold goods on credit and the receiver of goods in future disagree to pay the money of goods he purchases then the party whom we sell goods become bad debts in books of accounts …
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Journal Entry of Interest on capital and Interest on Drawing in Accounting
Journal Entry of Goods loss by fire in Accounting Goods are Nominal by nature. When goods are lost by fire it means we have to reduce our purchase in the books of accounts as our goods are no more remains with the business and goods are loss by fire which means we lost our goods. …
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Journal Entry of Capital Expenditure and Revenue Expenditure in Accounting Journal Entry of Capital Expenditure and Revenue Expenditure in Accounting Capital Expenditure Revenue Expenditure Expenditure incurred for acquiring assets, to increase earning the capacity of an existing asset that results in increasing its lifespan the expense incurred for maintaining the day-to-day operation activities of a …
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Journal Entry of Exchange of Fixed Assets in Accounting Fixed Assets are treated as Real Accounts in Accounting therefore When Fixed Assets are purchased they are debited and when fixed asset are sold they are credited in Accounting. Fixed Assets are also Assets in Accounting and as per Accounting law when Fixed assets added in …
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Journal Entry of Outstanding salary and Prepaid Salary In Accounting for more go to our blog Outstanding expense Journal Entry of Salary outstanding expense Salary paid for the month of Jan Rs 5,000 actual salary Rs 10,000 Journal Entry for the same will be. Salary A/c Dr. 10,000 To cash A/c …
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Journal entry of Advance received from Customer and advance paid to Supplier Advance received form Customer When Advance received from customers that is current liabilities as its our obligation for us to deliver goods and service in future. Before going further we have to understand what is Advance paid through the accounting rule of assets …
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