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Bank overdraft is shown in balance sheet same as bank account or any other cash account, it's a short term bank credit.
Prepaid Income is a balance sheet item. Income received in advance is treated as Liability of the firm. The same get transferred to Income Statement / Profit & Loss Account when income is earned. Followed by Accrual Accounting concept and Accounting Period Concept, such income received before they are actually earned are booked as a liability and get transferred to Income Statement as income upon actually earning them.
You debit the income summary (which has a credit balance due to a positive net income) for the same amount that is on the credit side to close it out, and you credit retained earnings for the same amount.
Capital is also the net asset. This value is the closing capital amount. Just below, there should be a the (Owner's) Equity section where you can find the opening capital value and at the end you can find the closing capital, which should be the same value as the new asset.
Yes income in balance sheet is the same amount which is calculated in income statement if there is any difference then it may be due to distribution of net income between retained earnings and dividend.
Accumulated depreciation which is not shown in income and expenditure account as expenditure and the same is included in the net profit and shown separately as depreciation reserved fund while adding it in the capital fund.
because whin using the composite depreciation or group depreciation method and want to sale an asets we make the cash is debt by the cash received and credit the assets by original cost and the diferrince debt accomulated depreciation , then the account of accomualted deprciation in the balance sheet will not the same as depriciation expene in the income statement
Accumulated depreciation which is not shown in income and expenditure account as expenditure and the same is included in the net profit and shown separately as depreciation reserved fund while adding it in the capital fund.
Income and expense for not for profit organisations is same as profit and loss account but they cannot use the name profit and loss account because not for profit organisations are not formed to earn profit.
The procedure to transfer ones checking account balance is the same at every bank. It is called a balance transfer. HSBC allows only 350,000 dollars to be transferred per day.
yes
Usually banks offer zero balance bank accounts to customers who have salary accounts with them. I have a zero balance account with DBS and since DBS and POSB are part of the same group, I guess they too will have a zero account balance bank account. You need to submit this bank account to your employer and if they GIRO your salary to this account automatically every month, it should be fine.