Find the best tutors and institutes for BBA Tuition

Find Best BBA Tuition

Please select a Category.

Please select a Locality.

No matching category found.

No matching Locality found.

Outside India?

Search for topics

How to Prepare Final Accounts (Step by step procedure) for BBA/ Bcom/ BBM students

Madhura Sagar G.
09/04/2020 0 0

Dear Students,

Final Accounts question is a very scoring question in the accountancy Paper and is also a compulsory question for most of the boards.

So here is the list of simple steps  to be follwed while solving a final Accounts sum:

1. Read the list of Trial Balance items and adjustments carefully

2. Record all the debit items given in the Trial Balance on either expenses side of Trading-P&L Account or Asset Side of Balancesheet

3. Record all the credit items given in the Trial Balance on either Income side of Trading-P&L Account or Liabilities Side of Balancesheet

4. Remember to post all the trial balance items only once, but all the adjustments items twice (one debit effect and one credit effect)

5. Balance your trading-P&L a/c first and determine profit/loss

6. Add this profit obtained with the Capital, on the liabilities side of the balance sheet

7. Take the total of the balance sheet.

Remember every debit has a corresponding credit.

0 Dislike
Follow 3

Please Enter a comment


Other Lessons for You

Computation of Salary income
Basic Salary (+) DA (+) Bonus (+) Taxable portion of allowances (+) Advance Salary (+) Fees (+) Commission (+) Taxable value of perquisities (+) Wages (+) Profit in lieu of salary (+) Taxable...

Anand Eriwal | 27 Mar

0 0

Price Earnings Ratio
Formula for Price Earnings Ratio

Industrial Relations
Absence of Industrial Relations(IR) leads to –Industrial Conflicts and Disputes –Continuation of unfair practices –Difficulty in maintaining and retaining Labor –Difficulty...

M Grace .. | 23/10/2020

0 0

What is Accountancy?
We all know this subject very well from our childhood. Remember those days of childhood when we share toffee and chocolates with your brother, sister and friends; we use to either...

Abhishek Pansari | 01/09/2020

1 0


Looking for BBA Tuition Classes?

Find best tutors for BBA Tuition Classes by posting a requirement.

  • Post a learning requirement
  • Get customized responses
  • Compare and select the best

Looking for BBA Tuition Classes?

Find best BBA Tuition Classes in your locality on UrbanPro

Post your learning requirement

UrbanPro.com is India's largest network of most trusted tutors and institutes. Over 55 lakh students rely on UrbanPro.com, to fulfill their learning requirements across 1,000+ categories. Using UrbanPro.com, parents, and students can compare multiple Tutors and Institutes and choose the one that best suits their requirements. More than 7.5 lakh verified Tutors and Institutes are helping millions of students every day and growing their tutoring business on UrbanPro.com. Whether you are looking for a tutor to learn mathematics, a German language trainer to brush up your German language skills or an institute to upgrade your IT skills, we have got the best selection of Tutors and Training Institutes for you. Read more