Balance sheet & profit loss accounting
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 August 2015
How to identify the Accounts to be posted in Balance Sheet & Profit Loss. As Real & Personal Accounts are in the Balance Sheet, while Nominal Expenses are shown in Profit & Loss Statement. For Eg.: Pre Paid Expenses as the name suggest is the expenses but is show on the balance sheet under current assets. So how to identify the particular Accounts and post them accordingly?. Please guide me on the same.
06 August 2015
Nominal accounts - P&L
Personal & real = Balance sheet
Capital ,Loans, Outstanding , receivables etc all are representative personal accounts = balance sheet.
Personal & real = Balance sheet
Capital ,Loans, Outstanding , receivables etc all are representative personal accounts = balance sheet.
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