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It includes every relationship which established among the people.

Final accounts balance sheet. Interest on Bank overdraft Rs. It is the last stage of final accounts. The Balance Sheet is primarily prepared to know the financial position of the business.

None Add to my workbooks 0 Download file pdf Embed in my website or blog Add to Google Classroom. The is why the heading of the balance sheet is given as under. Final accounts can be calculated as follows.

In this chapter we shall look at both. 3000 and Interest on bank loan Rs. The balance sheet is prepared at the end or accounting period.

The vertical format however is more common nowadays and is used as the standard format in this book. Balance sheet Final accounts can be presented in a vertical format or a horizontal format. The net assets attributable to the plant and included in the balance sheet 31st March 2012 are Rs 300000.

Popularly the Trading and Profit Loss Account and the Balance Sheet are together called the final accounts. These include Trading account Profit and loss account and Balance sheet. Therefore it is called the balance sheet.

When preparing final accounts it. The trading and profit loss account is prepared to show the financial results of a business may be in the form of profit or loss during an accounting period or year. Balance Sheet as at 31st December 2005 If accounting year ends on 31 Dec.

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