The latest release of TallyPrime brings a fresh breeze of simplicity... Let’s understand the power of the connected GST feature... The uncertainty of unclaimed ITC can create unnecessary stress and... In the dynamic world of business, managing operations... ...
A company trading in metals wants to prepare a trial balance from the below ledger balances- Cash $32,800, account receivable $100,000, inventory $39,800, accounts payable $49,000, long-term liability $99,500, equity shares $10,000, the dividend paid $1,000, revenue $27,500, cost ...
Summary of Accounts: It depicts the summary of personal and real accounts that are open. This means it consists of those accounts which are not yet closed by transferring the same to trading and profit and loss account. Equality of both sides: The totals of the assets and liabilities side o...