Consignment: Parties: Consignor and consigneeOwnership of a goods: In consignment, there is no transfer of ownership in the goods from consignor ...

Consignment: Nature of Relationship: The relationship between the consignor and consignee is that of principal and agents.Ownership and Risk of ...

Straight Line Method : Amount of Depreciation: Equal amount of depreciation is charged every YearCalculation of depreciation: Depreciation is ...

The main methods of recording the Joint Venture Transactions are: Method one Separate Set of Book Under this method, separate, books are kept ...

Meaning of Incomplete Records (or Single Entry System). Incomplete accounting records are those accounting records which, at present, are not complete ...

Conversion of Receipts and Payment Account into Income and Expenditure Account. When it is desired to convert a receipts and payments account into an ...

Receipts and Payments Account:  Nature of Account: It is a real account.Basic Structure: It is basically a summarized cash ...

Accrued Income as well as outstanding income are earned by the business and not yet received but in case of accrued’ income, the income has not become due on ...

Meaning and types or Subsidiary Books. The sub-division of the journal into various books recording transactions of similar nature are called ...

A Journal is a book of original record where every transaction is recorded. It is the book in which transactions are recorded first under the double-entry ...