Final Accounts | Learn Accounting: Notes, Procedures, Problems and Solutions

Preparation of Final accounts with Adjustments | Financial Accounting

Preparation of Final accounts with Adjustments! The reporting information will not be accurate unless we take into consideration the adjustment entries. The treatment of various common adjustments such as closing stock, outstanding expenses, accrued incomes, prepaid expenses, incomes received in advance, bad debts, reserve for bad and doubtful debts, reserve for discount on debtors, reserve for discount on creditors, interest [...]

By Tanaya S|2018-08-01T10:47:23+00:00August 1, 2018|Final Accounts|Comments Off

Company Final Accounts: Problems and Solutions | Accounting

Here is a compilation of top seven accounting problems on company final accounts with its relevant solutions. Problem 1: The Alfa manufacturing Company Limited was registered with a nominal capital of Rs 6, 00,000 in Equity Shares of Rs 10 each. The following is the list of balances extracted from its books on 31st December, 2004: Prepare Trading and Profit [...]

By Nilima M|2017-02-06T20:58:59+00:00February 6, 2017|Final Accounts|Comments Off

Final Accounts of LIC (With Format) | Accounting

This article provides a format of final accounts of LIC. A life insurance company shall prepare the Revenue Account [Policyholders' Account], Profit and Loss Account [Shareholders' Account] and the Balance Sheet in Form A-RA, Form A- PL and Form A-BS, as prescribed in this Part, or as near thereto as the circumstances permit. Provided that an insurer shall prepare Revenue [...]

By Nilima M|2017-02-06T20:58:57+00:00February 6, 2017|Final Accounts|Comments Off

Archive | Final Accounts

Preparation of Final accounts with Adjustments | Financial Accounting

Company Final Accounts: Problems and Solutions | Accounting

Final Accounts of LIC (With Format) | Accounting