corporate accounting
This query is : Resolved
27 December 2010
hi friends, i want issue of shares, allotment , first and final call journal entries with explanation(golden rules) .. explain those journal entries (why its debited and credited) plzzzzzzzzzzzzzzzzzz.
28 December 2010
Think like this:
A credit increases the liability and debit decreases the liability.
A debit increases the cash.
All money received by a COMPANY is always its liability, whether it is held as application, allotment, first call or second call. All you do is increase one type of liability and decrease another.
If your query is not resolved, revert.
A credit increases the liability and debit decreases the liability.
A debit increases the cash.
All money received by a COMPANY is always its liability, whether it is held as application, allotment, first call or second call. All you do is increase one type of liability and decrease another.
If your query is not resolved, revert.
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