WebDec 13, 2024 · Steps to prepare Trial balance. The following are the steps to prepare Trial Balance. Step 1. Cast/ Balance all the ledger accounts in the books. Step 2. List all the Debit balances on the debit side and sum them up. Step 3. List all the Credit balances on the credit side and sum them up. Ideally, the Trial Balance should Tally at Step 3. WebAssets are classified as Current Assets and Fixed Assets. In the given situation, below are termed as Fixed Assets: Office Furniture & Equipment. Freehold Land & Building. Plant & Machinery. Below is termed as Current Assets: Stock of …
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WebPerformed legal services for a client and received $2,000 cash. Debit cash. Credit service revenue. Purchased a building with a market value $150,000 and land with a market value of $30,000. The business paid $40,000 cash and signed a note payable to the bank for the remaining account. Debit building $150,000. WebNov 7, 2024 · Find an answer to your question Find odd one!Building, Machinery, funiture, bills payable ... Answer: Hey mate..... Explanation: it's Bills payable. Advertisement Advertisement nuthana32 nuthana32 Answer: bills payable. Mark me as brientst. Advertisement Advertisement New questions in Accountancy. Jayant, Vijyant and … captain attack on titan
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WebBy Bills Payable A/c By Outstanding Expenses A/c By Bank Loan, Overdraft, Cash Credit A/c By Bank/ Cash A/c (Assets realized): Land and Building Plant and Machinery Furniture Stock Debtors Bad Debts … WebCash in Hand ₹ 2,800; Sundry Debtors ₹ 4,800; Stock ₹ 6,800; Bills Receivable ₹ 1,600; Sundry Creditors ₹ 500 and owing for Rent ₹ 150. Furniture and Fixtures to be depreciated by 10%. Ascertain the profit or loss made by A during 2024–19. WebThe decrease in Furniture, Patents written off, Increase in Bills Payable, RDD written off . Maharashtra State Board HSC Commerce: Marketing and Salesmanship 12th Board … captain d\u0027s tulsa ok