Default in Payment and Partial Return of Goods
by Default is failure to meet the legal obligations (or conditions) of a loan, for example …
Tag: Event Management
Installment Accounts
The installment method is an approach to revenue recognition in which the business owner defers …
Circumstances of Insolvency, Procedure of Declaring Insolvency
The Insolvency and Bankruptcy Code 2016 recently completed its second anniversary successfully. In these two …
Preparation of Statement of Affairs
Correct final accounts of a business can be prepared in the records are maintained under …
Insurance Claim for Loss of Stock and Loss of Profit
Though fire is common and is known to all, the legal meaning of fire is …
Recoupment of Short working, Sub-lease
Fixed: If the lessor or landlord agrees to compensate the losses which were incurred in …
Accounting records for Royalty in the Books of Lessee
The following are the accounting entries passed in the books of lessee: When the Royalty …
Accounting records for Royalty in the Books of Landlord
The Lessor is entitled to receive Royalty from the Lessee. Here royalty would be an …
Interest Suspense Account
(a) Interest Suspense Method: From the standpoint of conservatism, interest on doubtful loans should be …
Important Differences between Hire Purchase and Installment Purchase System
Hire Purchase system is a system in which the goods are delivered to the purchaser …