Accounts from I...

Cash in hand can be obtained by preparing

Net worth of an organization means the excess of its total assets over total:

If capital in the beginning is more than at the end then it will be

Commission received in advance is to be shown in statement of affairs on

Which method is used under single entry system to find out the profit or loss?

A statement of assets and liabilities prepared under the single entry system is called

A limited company cannot maintain its accounts under Single entry system because

From the following information are given of an accounting year:

1. Opening creditor Rs.10,000
2. Cash paid to creditors Rs.30,000
3. Return out ward Rs.2,000
4. Closing creditors Rs.24,000

Calculate credit purchase during the year.

The opening capital is ascertained by preparing

Profit is calculated by the formula