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Type: Posts; User: mazhar641

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  1. Feb 17, 2009, 11:04 AM

    Question: How do I make a journal entry for interest on notes receivable?

    by mazhar641
    Answers
    5
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    8,604

    Cash dr Interest Income Cr

    Cash dr
    Interest Income Cr
  2. Feb 17, 2009, 11:01 AM

    Question: What is the relation between Resurves & Surplus and Profit & Loss account?

    by mazhar641
    Answers
    1
    Views
    654

    Profit & Loss account shows you the profit or...

    Profit & Loss account shows you the profit or loss for the fiscal year only, Where as Reserve shows the accumulated profit or loss for the previous periods. Pofit or has has to be transferred to...
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