Accounts

Project
For
Accounting

Presented by:Rishikesh Reedoy
Form 4A
Balance Sheet
* A ratio sheet is a financial statement which shows the financial cast of a business at a particular date.
* It consists of assets, liabilities, capital.
* It is not an account rather a statement.
* It is prepared not for a period but rather for a particular date.
debit entry & Credit Notes
Debit
`Debit` is a Latin term. In Latin debit mean to receive a benefit. It is always shown by the right hand side.
Credit
In the opposite hand the word `credit` is also a latin term but it means to give a benefit. It is normaly shown by the left hand side.
Trading Account
As its name indicates the craft account is an account which records all transaction relating to trade that is the acquire of goods and services.The objective of this account is to calculate gross profit or gross loss.The main elements of a trading account admit:
Purchases
Purchases returns
Sales
Return inwards
Opening inventory
Closing inventory
Expenses relating to purchases
Carriage on purchases
Freights
importation duties
Non current assets
The non current assets are:
Intangible e.g. goodwill
Tangibles e.g. motor car, lay out and Machinery etc.





Current assets
Closing inventory
foxiness receivables (debtors)
Cash at savings bank
Cash in hand

Liabilities sides
Capital section
Current liabilities:
Trade payables (creditors)
Bank overdraft

Non current liabilities
(long term liabilities)
Loan from bank
Mortgage on premises

Working capital
Working capital is a financial metric unit which represents operating liquidity available to a business, organization, or early(a) entity, including governmental entity. Along with fixed assets such as comprise and equipment, working capital is considered a part of operating capital. net working capital is calculated as current assets deduction current liabilities.

Capital owned
it is the amount and other resources employed in the business which belong...If you want to get a full essay, aver it on our website: Ordercustompaper.com



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