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What is liquidator final statement of account how it is prepared?
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Meaning of final account of a company?
Final accounts are the accounts prepared at the final stage to judge the financial position of the business.It consist of Trading and profit and loss account and Balance sheet.It provide necessary information to various interested groups- share holder, investors, creditors..It also known as financial statement.-------by, bhavinpv@gmail.com
How are the provisions for doubtful debts treated in the final accounts?
The debts are treated as expenses in the profit and loss account, being entered on the debit side of the income statement coloums.
What are the final statements of the business?
final statements are trading account,profit and loss account,balance sheet.
Under what circumstances would bills receivable account and bills payable account prepared while preparing final accounts from incomplete record?
There really is not any reasons as to why there would be an incomplete record. The only way would be from a computer error or just someone providing the incorrect information.
Is trial balance prepared before preparation of final accounts?
yes
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 is Liquidator Account?
The liquidator's final account shows the succession's net assets or deficit.
What is liquidators final account?
The liquidator's final account shows the succession's net assets or deficit.
Why final accounts prepared?
The final account is prepared at the end of each year. It is the combination of the income statement and the balance sheet. The final accounting shows a business where is stands financially and can be compared to past years to see if business and profits are up or down.
Meaning of final account of a company?
Final accounts are the accounts prepared at the final stage to judge the financial position of the business.It consist of Trading and profit and loss account and Balance sheet.It provide necessary information to various interested groups- share holder, investors, creditors..It also known as financial statement.-------by, bhavinpv@gmail.com
Where the drawing posted in final account?
Drawings are deducted from Equity Account (Capital) in financial statement
What is the difference between final account and financial statement?
Financial Statement: Financial statement is a instrument used to present a companies financial position. Financial statement complies with balance sheet, cash flow and funds flow statements. Final accounts is the final stage of preparation of financial statement
Is bank statement an asset or owner's equity?
A bank statement is neither an asset or owner's equity account. It is a source document for the determination of the correct cash in bank balance account of an entity, and after the final determination thereof, the cash in bank balance will be an asset account. The bank statement is secured from the bank where the entiity maintains an account and said statement is being reconciled with the book balances of the company for the said final determination of correct cash in bank balance prior to month end, quarterly closing and annual closing of a company.
Income and expenditure account?
It is a financial statement and a part of the final accounts of a business.It is also known as the profit and loss statement/account and,,under the new IAS,is known as the statement of comprehensive income.It mainly serves to deduce the profit/(loss) for the year i-e the income minus all the expenses and costs.
Is wrong a final statement?
no
How are the provisions for doubtful debts treated in the final accounts?
The debts are treated as expenses in the profit and loss account, being entered on the debit side of the income statement coloums.
Do you believe that venzetti was telling the truth in his final statement Give reasons for your answer?
No. I do not believe that venzetti was telling the truth in his final statement.
