Basic Question

For preparation of b/s we should not mention Dr nd cr bcz it is statement not an a/c .only for accounts we write Dr and cr ...

anusha athikamsetty

CA Inter

★ 65

25-Aug-21 19:07

Ok but lib.... Is cr balance , Asset is ........ Dr balance How?? This you can prove me mam pls

Thread Starter

Balachandar S

CA Inter

★ 59K+

25-Aug-21 19:36

For example, if we purchase a machinery what will be the entry? Machinery a/c dr To bank/creditor a/c. The amount we pay for purchase of machinery is expense right? As you know we write machinery in assets side of B/S. So from this we can say that debit all expenses, is your query clarified?

phanindra raj

CA Final

★ 9K+

25-Aug-21 20:05

Ok sir If means we purchase something like asset That we need to pay some money ,so as per golden rules debit all exp thats y asset is DR Balance am I right Can you tell me sir Example for lib...... Is cr balance. as per asset problem get sort out for me tq

Thread Starter

Balachandar S

CA Inter

★ 59K+

25-Aug-21 20:15

Usually cr Bal refers to an amount that a business owes to a customer for ex. Share holder's funds And coming to Dr Bal it is an amount that is owed to u by a vendor

anusha athikamsetty

CA Inter

★ 65

25-Aug-21 20:15

Sorry mam I donot know what is shareholder also

Thread Starter

Balachandar S

CA Inter

★ 59K+

25-Aug-21 20:19

Shareholder means an owner of shares in a company

anusha athikamsetty

CA Inter

★ 65

25-Aug-21 20:21

Which means .for ex I am purchase 1000 shares in reliance industries then I am owner of relience co.... Am I right mam

Thread Starter

Balachandar S

CA Inter

★ 59K+

25-Aug-21 20:22

Exactly then u become shareholder of reliance

anusha athikamsetty

CA Inter

★ 65

25-Aug-21 20:26

Tq so muchhhhhh mam ð???ð???

Thread Starter

Balachandar S

CA Inter

★ 59K+

25-Aug-21 20:29

Mam if any sudden decisions taken in ©ompany Before they will ask me ..... Bec... I am a owner also Am I right mam

Thread Starter

Balachandar S

CA Inter

★ 59K+

26-Aug-21 10:18

All these questions are covered in foundation and ca inter syllabus - pls go through and you will understand

Sriram Somayajula

Admin

26-Aug-21 20:01