Double entry bookkeeping:
Two types of discount:
trade discount(buying in large quantities), cash discount(prompt payment)
,Premises plural is premises
Why is loan interest accrued not added to loan?
// credit sales is not included in revenue its trade receivable
// purchase returns decreases trade payable
Balance sheet format
Assets ordered in order of increasing liquidity
bilities are typically listed in order of shortest term to longest term
,
, Business documents-->books of prime entry-->Double entry in ledger-->trial balance→ financial
statements
Shiromi bought office equipment on credit.why this transaction increased
Shiromi’s current assets.(shiromi trades office equipments)
Non current assets:
Two types of discount:
trade discount(buying in large quantities), cash discount(prompt payment)
,Premises plural is premises
Why is loan interest accrued not added to loan?
// credit sales is not included in revenue its trade receivable
// purchase returns decreases trade payable
Balance sheet format
Assets ordered in order of increasing liquidity
bilities are typically listed in order of shortest term to longest term
,
, Business documents-->books of prime entry-->Double entry in ledger-->trial balance→ financial
statements
Shiromi bought office equipment on credit.why this transaction increased
Shiromi’s current assets.(shiromi trades office equipments)
Non current assets:
