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A credit INCREASES the balance of a liabilities account, and a debit DECREASES it. In this WAY, the loan transaction would credit the long-term debt account, increasing it by the exact same amount as the debit increased the cash on HAND account.

From the following transactions write JOURNAL entries in the book of pranjal (1) introduced rs 10,000 cash and commenced business. (2) goods of rs 5000 purchased on cash. (3) goods of rs 8000 purchased on CREDIT from rajan. (4) goods of rs 2000 given for DONATION.

In FINANCIAL accounting, "reserve" always has a credit BALANCE and can refer to a PART of shareholders' equity, a liability for estimated claims, or contra-asset for uncollectible accounts. A reserve can APPEAR in any part of shareholders' equity except for contributed or basic share CAPITAL.

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External users are people OUTSIDE the business entity (organization) who use accounting information. EXAMPLES of external users are suppliers, banks, customers, INVESTORS, potential investors, and TAX authorities.

Creditors for sports MATERIALS, 18,000, 41,000 ... INCOME & Expenditure A/c for the year ENDED 31ST MARCH 2019 ... Creditors for Sports Material, 41,000, Stock of Sports Material, 38,000 ...

Capital reduction is the process of DECREASING a company's shareholder equity through SHARE cancellations and share REPURCHASES, also known as share buybacks. The reduction of capital is done by COMPANIES for numerous reasons, including increasing shareholder value and PRODUCING a more efficient capital structure.

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tion:6.2 K. N/a. Debit BALANCE of an Income and Expenditure Account is DEFICIT because it is the EXCESS of expenditure over income.

Which of the following are TRUE about the characteristics of a bond ( select all that apply) 1) lending to a CORPORATE or government 2) payments can be monthly, quarterly, semi- ANNUAL or annual basis 3) all BONDS mature at 10 years 4) income

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I'm assuming you're wanting journal Entries so—bank dr 75k to CAPITAL 75kfurniture dr 5k to cash 5kpurchases dr 20k to bank 20kpurchases dr 16k to creditor's ac 16kdebtor's ac dr 12k to sales ac 12k rent ac dr 1K to cash ac 1k(hope my answer was helpful to you, if so please mark my answer the Brainliest, you'll EARN some points too. I'll be very GRATEFUL!)

Discount % = 5/30 * 100 = 16.665%EXPLANATION:HOPE it HELPS PLEASE mark as brainliest

Journal Voucher is a document of every financial transaction, having the necessary information such as the identification number of the voucher, date, description of the business transaction, amount of transaction, applicable taxes, a reference to other evidence, the signature of the marker and the signature of the authorized PERSON, used according the transaction in the books of organization.Explaination:Every transaction requires every sort of physical backup, which forms a base for it. The physical backup is nothing but the documentary evidence known as a journal voucher.It contains the information with the actual invoice as evidence.The third-party give the actual invoice. Voucher is taken as the base for recording the financial transaction into the books of accounts of the organisation.Auditors generally scrutinize the voucher as a part of their audit producers.Journal vouchers (also known as JVs) are used for transactions that do not to relate any transaction or material, cash, bank and other DAYS today business transactions. It means JVs are used for a transaction such as DEPRECIATION, transfer entries, adjusting entries, provisions, accural entries, purchase and sale of fixed ASSETS on credit, write of BALANCES no more required,etc.These vouchers are easily traceable in any accounting system. Since these transactions are out of routine transactions, auditors vouch over these at priority.

mark as me brain list please Explanation:When MARKET price cannot be ascertained, certain percentage of profit margin is added to the cost of processing in ORDER to arrive at the TRANSFER price. CONSEQUENTLY, each process account reveals a profit and this profit is known as 'inter process profit'.

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l transactionFor example, purchase of merchandise from a SUPPLIER, payment of cash to a CREDITOR, payment of salary to a worker, etc. Usually, most of the TRANSACTIONS made by a business during an ACCOUNTING period are EXTERNAL transactions.

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The STATEMENT is TRUE and CORRECT

only on the ASSET MENTIONED in the ADJUSTMENT

Octroi A/c Dr To CASH/BANK A/cExplanation:Octroi being an EXPENSE will be DEBITED when occured. while cash or bank will be CREDITED.

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tion:In cell biology, mitosis is a PART of the cell CYCLE in which replicated chromosomes are separated into two new nuclei. Cell division gives rise to genetically identical cells in which the total NUMBER of chromosomes is maintained. Therefore, mitosis is also KNOWN as EQUATIONAL division

Explanation:There will be TWO different entries1.   FURNITURE A/c Dr        To Bank A/c (Being bought furniture and paid by CHEQUE)2.  Stationery       To Cash/Bank A/c(Being stationery PURCHASED)

Under NET ASSET VALUE method value of shares are depends on (a) Net asset available to equity SHAREHOLDERS.

Co-operative sociatist rulesExplanation:PLEASE MARK me as a BRANLIST