Basic query in accounting
This query is : Resolved
21 September 2013
Whether below statements are correct ?
All Revenue Expenditure are shown in Expenses ledger A/c & after adjustments (if any) Bal.fig is t/f to P&L A/c (Dr side).
All Revenue Receipts are shown in Income ledger A/c & after adjustments (if any) Bal.fig is t/f to P&L A/c (Cr side).
All Capital Expenditure & Capital Receipts are shown in Asset ledger A/c & that to also in Fixed Asset & Investment A/c & after adjustments (If any) then Bal.fig is Carry forward to Balance sheet.
I will be very much thankful to u.
All Revenue Expenditure are shown in Expenses ledger A/c & after adjustments (if any) Bal.fig is t/f to P&L A/c (Dr side).
All Revenue Receipts are shown in Income ledger A/c & after adjustments (if any) Bal.fig is t/f to P&L A/c (Cr side).
All Capital Expenditure & Capital Receipts are shown in Asset ledger A/c & that to also in Fixed Asset & Investment A/c & after adjustments (If any) then Bal.fig is Carry forward to Balance sheet.
I will be very much thankful to u.
21 September 2013
Go to the following link, it will help you:
https://gntmasterminds.com/as10.pdf
https://www.mca.gov.in/Ministry/notification/pdf/AS_2.pdf
https://gntmasterminds.com/as10.pdf
https://www.mca.gov.in/Ministry/notification/pdf/AS_2.pdf
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