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Much the same! Shares = each of the equal parts into which the ownership of a company or corporation is divided. Shares are usually in the form of transferable certificates of stock. Ex. The ownership of this railroad is divided into several million shares. With borrowed money, they bought 59,100 shares... then agreed to resell the block (Newsweek). (Abbr:) sh. Stock = 3a. The capital of a company or corporation, divided into portions or shares of uniform amount which are represented by transferable certificates. The holder of one of these is considered a part owner, rather than a creditor, of the company. b. the shares or portions of one such company or corporation. The profits of a company are divided among the owners of stock. Ex. Father owns some stock in that railroad. |
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Recording Depreciation will be an adjusting entry. The entry is: Debit Depreciation Expense for the amount and Credit Accumulated Depreciation for the amount. Closing entries are made to close out temporary accounts (Income Statement accounts) to permanent accounts (Balance Sheet accounts). You close out your revenues and expenses to your Income summary account, then close out your Income Summary account to Retained Earnings. The journal entry for depreciation expense will be: Credit Depreciation Expense for the amount in the account and Debit Income Summary Account for the amount. |
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No, the terms don't apply in accounting like that. That's just a plain old English definition, not accounting. You don't "provide provisions" to a company - they aren't the Army. In my mind, the terms could be used interchangibly. However, I didn't answer this cause when I googled it I discovered (as I suspected) that different places use these terms in different ways. |
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If I purchased a machinery of Rs. 50,000 and Received a free printer of Rs. 3000 .
If I purchased a machinery of Rs. 50,000 and Received a free printer of Rs. 3000 . What its Accounting entry? ( Both are assets but we have paid cash for machinery, can anyone explain this entry
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The entry will be: Debit Machinery 47,000 Debit Office Equipment 3,000 Credit Cash 50,000 The reason being the printer is an asset which will be used in the business and has a fair value at the time of acquisition. The traders usually resort to offering such bargain options to boost their sales. Instead of giving trade discounts they offer some other goods that are not selling as fast as they want. |
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Hi bheemaiah The Bombay Stock Exchange Sensitive Index (Sensex) See: Bloomberg.com: Personal Finance |
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