Adjusting entries are those entries that passed to rectify an error or wrong entry already made some accounting soft wares have disabled edit function in the accounts, so the only way to undo the mistake is to pass a correction entry or adjusting ...... More »
A continental liability may or may not be liability to the company. It is mandatory to show in Balance Sheet. Ex:- Ex gratia payable to Workers. Sometimes company has to pay, sometimes may not pay. ...... More »
Yes, you can take tax on freight outward. Because you are paid freight inclusive of service, tax so you can full credit availed on any expenditure where you paying service tax amount. ...... More »
