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Under which basis of accounting only cash transactions are recorded in the books?

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Cash Basis method
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Accounting on Cash Basis
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How to become a tutor in urbanpro? 

 

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Kiruthiga
Which statement is prepared to know the profitability of the business?
Profitability of a business entity can be estimated through trading p&l account. Where trading account states the gross profit and p&l account states the net profit earned by the entity.
Sumit
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8

How many types of GST in India 

Four types of GST in our India. 1.SGST 2.CGST 3.UGST 4.IGST
Subhash Chandra Thakur
difference b/w cash & cash eqivalant..
Cash is basically the money that is available with us in liquid form.And cash eqivalent are those items which can be converted into liquid form as and when required like fixed deposit ,they can be converted...
Madhav

What is the difference between Bad debts and bad & doubtful debts. What are the legal compliances for the provisions for doubtful debts and bad debts recovered after being written off. 

Both are pretty much same.. Bad debts amount to be transferred to P/L a/c (dr side) Baddebts recovered P/L credit side as income Provision on doubtful debts to be deducted from debtors in balance sheet..
Suneha Sharma
1 0
7

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