Insolvency Accounts Meaning
by In accounting, insolvency is the state of being unable to pay the debts, by a …
Tag: Spreadsheet for Business
Deficiency Account
When any company becomes bankrupt, at that time, deficiency account is prepared. This account shows …
Default in Payment and Partial Return of Goods
Default is failure to meet the legal obligations (or conditions) of a loan, for example …
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 …
Branch Accounts & Accounting
In order to increase the volume of profit, it is the primary aim of all …
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 …