Accounting courses in chandigarh
What is expenditure? The act of spending money, transferring property, goods and services is called expenditure. Types of expenses There are two types of expenses: 1. Capital Expenditure 2. Non-recurring expenditure, for the purpose of purchasing fixed assets or increasing their value, is called capital expenditure.
Examples 1. Expenditure incurred for the purchase or construction of land, buildings, machines, logistics, etc. is capital expenditure. Capital expenditure provides long-term benefits. 2. Revenue Expenditure 3. Income expenditure is the expenditure which is of recurring nature and its benefit is received only during an accounting period. All the expenses incurred are debited in the trading and profit-loss account. Income expenditure is helpful in maintaining current profitability.
What are the features of Trial Balance? The main features of Trial Balance are: ● In this, the balance of debit and credit formulations of account books are shown. ● It is prepared on a certain date. ● Its purpose is to find the arithmetical purity of the balances of accounts. ● It is usually made at the end of the year. ● This is a special type of list. ● The final accounts are prepared from the sediment.
What is Trial Balance? The meaning of the trials is with the check and Balance means the remainder. The account that is prepared in the laser to check whether it is correct or not is called Trial Balance. In other words The account that is prepared to check the remainder of the laser is called Trial Balance.
Sediment is a list of the balance of accounts opened in the account books at the end of the financial year or any other date, which is made for the purpose of investigating whether the debit value is actually the same as credit totals.
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