Capital Accounts: Fixed vs Fluctuating – Complete guide
1. Introduction In a partnership firm, the capital contributed by partners is recorded in their Capital Accounts. The treatment of […]
Accounting Basics
Accounting Basics
Learn the fundamentals of accounting including journal entries, ledger accounts, and financial statements
Accounting Basics
Partnership — A Complete Guide with Worked Sums
1. Introduction to Partnership As a sole proprietor’s business grows, the need for more capital, additional skills, and shared responsibility
Equilibrium in Accounting: The Complete Balance Sheet Compendium
The Balance Sheet is one of the most important financial statements in accounting. It shows the financial position of a
TRADING & PROFIT AND LOSS ACCOUNT
1. Introduction Every business exists to earn profit. But how do we measure that profit? The answer lies in two
Accounting Basics
How to Prepare a Trial Balance: Step-by-Step Guide with 10 Solved Examples
What is a Trial Balance? After recording all business transactions in the Journal and posting them into Ledger Accounts, the
Depreciation SLM vs WDV | Full Guide for Class 11 & 12
1. What is Depreciation? When you buy an asset like machinery, furniture, or a vehicle — it does not stay
Accounting Basics
How to Prepare Ledger Accounts with Solved Problems
If the Journal is a diary where you write everything as it happens, the Ledger is a set of folders.
Accounting Basics
Journal Entry and Sums Explained with Examples | Accounting Basics
What is Journal Entry Every time a business spends or earns money, someone has to write it down precisely, consistently,