Fixed assets and Current assets
Fixed Assets: Those asses whish are owned and used by the firm for generating cash Assets are of two types i.e. tangible fixed assets and intangible fixed assets. Tangible Fixed assets have their physical existence and intangible assets do not have their Physical existence. Furniture, land and building, plant andContinue Reading
Define balance sheet and write any two importance of it.
Balance sheet is the summarized statement of the company, which shows the assets as the resources possessed by the company in one hand and capital and liabilities on the other hand at the given date. It is prepared from the balances of assets and liabilities Extracted from the trial balanceContinue Reading
Write two advantages of trial balance.
Trial balance is the statement of debit and credit balances of ledgers which is prepared At any date for checking arithmetical accuracy of books of account. It has the following Advantages: a. It helps to check arithmetical accuracy of books of account. b. It facilitates for preparation of income statementContinue Reading
Write the meaning of debenture.
Debenture is a certificate issued by a company acknowledging a debt by it to the investor As per the term of issue. It is an evidence of debt due from the company with or without Charge on the assets of the company. The holders of debentures are known as debentureContinue Reading
Write in brief the meaning of convertible debentures.
On the basis of conversion, debenture may be classified into two types i.e. convertible Debenture and non-convertible debentures. Those debentures which are issued with the Option of converting them into equity shares, preference shares or new debentures at the Will of the debenture holder after a certain period are calledContinue Reading