Balance sheet assets

MR. RONAK DARJI , CORRECT YOUR INCOME TAX ACT,1961

AGREED WITH KIRAN JI

Agreed With Ca Kiran..........

Balance sheet means balance on that Specific date.... means closing balance...

Balance sheet is "as on" a date. So no need of dividing it by twelve for a monthly balance sheet.

Dividing by twelve comes only for profit & Loss account, that too for recurring expenses that have periodical spread.

The balances which are carried forward to next accounting period are taken/shown in Balance sheet. The accounting period may be a month or a quarter or even a year. Then to prepare B/s you can consider closing balances of Assets at the end of every period(month)after considering depreciation alternatively you consider the original cost of assets on assets side and create provision for depreciation and show in liabilities side . The accounting entry will be: Depreciation a/c Dr......{charged to p&l} To Provision for Dep. a/c{Accumulated Balance shown in B/S.}

I Agree with CA Kiran Sir

Agree with CA Kiran

Totally agree with CA Kiran Sutrave

I want to know list of all journal entry (provision and adjsustment ) which is consider for making quaterly and final balance sheet.

Thanks