TALLY TRAINING IN CHANDIGARH
Where sales tax is shown in balance sheet. Sales Tax is liability for the business therefore it will be shown in the liability side of the balance sheet but before putting sales tax in liability we have to see where sales tax is shown in the trial balance sheet.
What are personal accounts ? Those account which are related to individual ,person or firm are term as personal account.
.
Example : ram ,Shyam,reliance,bank,capital ,drawing.
What is trial balance : Answer :Trial Balance is a list of closing balances of ledger accounts on a certain date and is the first step towards the preparation of financial statements.
What are Liabilities ? It refers to the amount which the firm owes to outsiders (expecting the amount owes to proprietor) Example : creditors,bank overdraft .loan from bank,outstanding expenses ,income earned in advance
CONTACT US TALLY TRAINING IN CHANDIGARH SCO 23-24-25, Sector 34A Chandigarh, IN 160022
(+91) 9988741983 counselor.cbitss@gmail.com
‘
THANK YOU