what are the closing entry of assets and liabilities ? like in opening we
Dr - assets
cr - liabilities and equity
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Closing entry of assets and liabilities
Replies (2)
Quick Summary
For depreciate assets charge depreciation.
transfer the depreciation to pl account.
Disclosure norms as per Schedule . There are two types of assets current and non current.
Disclosure norms and closing of books of accounts are as per norms.
transfer the depreciation to pl account.
Disclosure norms as per Schedule . There are two types of assets current and non current.
Disclosure norms and closing of books of accounts are as per norms.
No I am asking about closing entry for fixed assets
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