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What is the procedure of finalisation of accounts?
Check all the ledger account post the Jv in the respective accounts come out with final balance of the ledger account then start putting figures in trial balance & then prepare trading, profit & loss account & balance sheet for the respective year.
What journal entries do you make for your construction loan?
My account balance in Construction LOC is $154833.00; what is the journal entry to record the $154833 in Construction in Progress Account? roger_randolph@yahoo.com
What are the final statements of the business?
final statements are trading account,profit and loss account,balance sheet.
Give you the format on how to prepare manufacturing account?
yes
Numerical of accounts related to final accounts?
First of all we journalise the entries and post into the ledgers and again prepare the trial balance after that trading and profit & loss a/c balance sheet. Again we will have to analyse the all aspects for decision makin The final accounts are: Manufacturing Account Trading Account Profit And Loss Account Profit and Loss Appropriation Account and Balance Sheet. The process of finalisation is something like this: Prepare a Trial Balance See whether it agrees or not If it does not agree then investigate the ledgers That process means that see whether Purchase ledger tallies with cash book purchase entries etc. After that you are ready to finalise the accounts but provide for taxes prepare provision for doubtful debts prepare gross block of fixed assets and depreciation prepare net block of fixed assets prepare gross and net block of inventory and value inventory at cost or market value whichever is less for this purpose the market value of the inventory need to be ascertained prepare bank reconciliation statement and tally all bank balances with bank accounts prepare gross and net block of furniture and fixtures provide for wages and salaries etc if they are payable after finalization period
How do you prepare final account in tally?
bill wise detail (on account)
How do non profit making organizations prepare their final account?
By preparing Receipts & Payments Account, Income and Expenditure Account and a Balance sheet.
What are the duties of the final accounts department in an organisation?
The finance department of a company is responsible for preparing final accounts. The prepare the Balance Sheets and the profit and loss account.
What is the procedure of finalisation of accounts?
Check all the ledger account post the Jv in the respective accounts come out with final balance of the ledger account then start putting figures in trial balance & then prepare trading, profit & loss account & balance sheet for the respective year.
What journal entries do you make for your construction loan?
My account balance in Construction LOC is $154833.00; what is the journal entry to record the $154833 in Construction in Progress Account? roger_randolph@yahoo.com
How do you prepare a interim valuation on construction?
To prepare an interim valuation on construction, gather progress reports, site visits, and updated cost information. Calculate the value of work completed based on quantities measured on site against the schedule of rates or agreed pricing. Take into account variations, additions, omissions, and any relevant contractual terms to determine the interim valuation amount.
What is liquidators final account?
The liquidator's final account shows the succession's net assets or deficit.
What is the explanation for the liquidator's final statement of accounts?
The liquidator's final statement of account is the account of winding up.
What are the final statements of the business?
final statements are trading account,profit and loss account,balance sheet.
How would you describe the construction tender process?
i want to know how to prepare tender
Give you the format on how to prepare manufacturing account?
yes
What is billings on construction in process?
It's a contra-asset account to construction in process. It's used to record periodic billings on a construction project.
