bank reconciliation statement

Bank reconciliation statement In modern times, bank transactions are increased and cash transactions are decreased due to increase in volume of business, safety, and compliance of law. Bank is a financial institute established as per RBI norms doing following functions. Discount promissory notes, B/E etc Allows the facility of Bank overdraft Collects dividend and interest […]


best summary notes Depreciation Meaning  it is allocation of capital expenditure during useful life of an asset. Depreciable asset: Held for use and having useful life exceeds one year and having limited life only. Land has unlimited life hence it is a non depreciable asset. Causes/reasons for deprecation Normal wear tear(use) Efflux of time Change […]

joint venture summary notes

joint venture summary notes and practical questions Each  co – venture keeps records of own transactions only Under this method following two accounts are prepared separately, there is no double entry. Memorandum joint venture account Joint venture with other co-venture account Memorandum joint venture account is a similar profit and loss account, in this account […]

partnership accounts

Fixed and fluctuating capital Permanent addition or deduction of capital will be recorded in fixed capital. While interest on capital, interest on drawing, drawings, profit or loss for the year, remuneration of partners – regular nature transactions will be recorded in fluctuating capital account, Interest on capital: If it is mentioned in deed then only […]