JOURNAL ENTRY
Professional fees of Rs.100000/- is paid to a consultant Thakur & Co. Please pass the necessary Journal Entry for both situation.
Situation A: If Thakur & Co. having not GST registration
Situation B: If Thakur &...
JOURNAL ENTRY
ABC Ltd received a legal advice from Thakur & Co. (Advocate
Firm) and legal fees of Rs.100000/- is paid to a Thakur & Co.
Please pass the necessary
Journal Entry in the books of ABC Ltd.
1st
Journal Entry
Legal...
KEY WORDS OF ACCOUNTING
1. Business
Any legal action that is done in order to earn income or profit is called business. It includes the production of goods and services, purchase and sale of goods and services, banking, insurance,...
Double-Entry System
What is the Double-Entry System?
The double-entry system of accounting or bookkeeping means that for every business transaction, amounts must be recorded in a minimum of two accounts. The double-entry system also requires that for all transactions, the amounts...
Key Terms of Budget
Guide to understand Budget 2021(For Apr 2021 to March 2022)The budget is also known as the annual financial statement, which is presented by the government to highlight its expenditure and receipts.* Revenue expenditure (Income...
Basic Information about Companies
COMPANIES
SECTION 2(20)
As per Section 2(20) of Companies Act, 2013 A company means a company incorporated under this act and any previous Company law.
Features of company
T – Transferability of shares
O – Ownership is different from...
Happy Holi!! ❤️🧡💛💚💜
On the auspicious day of Holi, May the Almighty bless us all with good health, wealth, peace, joy, happiness and above all, togetherness.
A very Happy Holi to everyone.🔴🟢
Online PF Withdrawal Process
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Each and every employee received UAN No. from their
employer i.e. Universal Account Number.
UAN No. is having 12 digit no.
Initially we will have...
Tools and Techniques of Financial Statement Analysis
Financial statement analysis is the process of analyzing a company's financial statements for decision-making purposes. External stakeholders use it to understand the overall health of an organization as well as to evaluate financial performance...
Income Tax Saving (Deductions on Section 80C , 80D and others)
Deductions Available under Chapter VI of income tax
Chapter VI A of Income Tax Act contains various sub-sections of section 80 that allows an assessee to claim deductions from the gross total income on account of various...
